Fifth Third Wealth Advisors LLC Makes New Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Fifth Third Wealth Advisors LLC acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 35,360 shares of the company's stock, valued at approximately $1,115,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company's stock worth $114,264,000 after acquiring an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company's stock worth $44,719,000 after purchasing an additional 181,194 shares in the last quarter. Driehaus Capital Management LLC boosted its holdings in shares of Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company's stock valued at $31,080,000 after acquiring an additional 392,483 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company's stock valued at $30,002,000 after buying an additional 120,468 shares in the last quarter. Finally, Millennium Management LLC raised its position in Alkami Technology by 124.1% in the second quarter. Millennium Management LLC now owns 514,677 shares of the company's stock worth $14,658,000 after acquiring an additional 284,977 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Down 0.2 %

NASDAQ ALKT traded down $0.06 during trading on Wednesday, reaching $37.75. 800,206 shares of the company's stock were exchanged, compared to its average volume of 503,920. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $41.36. The company's fifty day simple moving average is $34.71 and its 200-day simple moving average is $31.41. The firm has a market capitalization of $3.79 billion, a PE ratio of -80.32 and a beta of 0.43.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several research reports. JMP Securities raised their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group upped their price target on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Barclays raised their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. Needham & Company LLC boosted their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Lake Street Capital increased their price target on Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Alkami Technology has a consensus rating of "Moderate Buy" and a consensus target price of $37.44.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $16,314,595.60. The trade was a 12.44 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen Bohanon sold 35,893 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the completion of the transaction, the insider now owns 403,786 shares in the company, valued at $13,567,209.60. This represents a 8.16 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 3,212,491 shares of company stock worth $119,085,041. 25.90% of the stock is owned by company insiders.

About Alkami Technology

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.