Entropy Technologies LP Acquires New Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Entropy Technologies LP purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,298 shares of the company's stock, valued at approximately $341,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. boosted its position in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. lifted its stake in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after buying an additional 1,014 shares during the last quarter. Covestor Ltd boosted its holdings in shares of Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company's stock valued at $85,000 after acquiring an additional 2,646 shares during the period. nVerses Capital LLC grew its position in shares of Alkami Technology by 16.1% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock worth $114,000 after acquiring an additional 500 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new position in shares of Alkami Technology in the 3rd quarter valued at $155,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. JMP Securities increased their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a research note on Tuesday, October 29th. Barclays increased their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price target on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. JPMorgan Chase & Co. increased their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Finally, Needham & Company LLC boosted their target price on Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.

Alkami Technology Stock Performance

NASDAQ ALKT traded up $0.11 on Monday, hitting $32.90. 633,101 shares of the company's stock were exchanged, compared to its average volume of 505,193. The firm has a market cap of $3.31 billion, a price-to-earnings ratio of -70.00 and a beta of 0.47. The firm's 50-day moving average price is $36.34 and its two-hundred day moving average price is $35.10. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Insider Activity at Alkami Technology

In other news, CFO W Bryan Hill sold 110,250 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $38.62, for a total value of $4,257,855.00. Following the completion of the transaction, the chief financial officer now owns 471,403 shares in the company, valued at $18,205,583.86. This trade represents a 18.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the business's stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the sale, the director now directly owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. This represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 3,536,639 shares of company stock worth $139,955,172 over the last three months. 38.00% of the stock is currently owned by corporate insiders.

Alkami Technology Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.