First International Bank & Trust Has $1.62 Million Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

First International Bank & Trust reduced its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 40.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,117 shares of the company's stock after selling 30,000 shares during the quarter. Alkami Technology accounts for 0.5% of First International Bank & Trust's holdings, making the stock its 21st biggest position. First International Bank & Trust's holdings in Alkami Technology were worth $1,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Park Place Capital Corp purchased a new position in Alkami Technology in the 3rd quarter worth about $28,000. Advisors Asset Management Inc. boosted its holdings in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after buying an additional 631 shares during the period. Blue Trust Inc. increased its position in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock worth $38,000 after acquiring an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology during the second quarter valued at approximately $40,000. Finally, Covestor Ltd lifted its position in shares of Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company's stock valued at $85,000 after acquiring an additional 2,646 shares in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Down 4.9 %

NASDAQ:ALKT traded down $1.77 during mid-day trading on Friday, reaching $34.15. The stock had a trading volume of 736,727 shares, compared to its average volume of 558,805. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The stock has a market cap of $3.43 billion, a P/E ratio of -72.66 and a beta of 0.48. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The business's 50 day moving average is $38.21 and its 200 day moving average is $34.38.

Analyst Ratings Changes

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

Insider Activity at Alkami Technology

In related news, Director Atlantic L.P. General sold 2,500,000 shares of the firm's stock in a transaction on Friday, November 8th. The shares were sold at an average price of $37.50, for a total value of $93,750,000.00. Following the transaction, the director now directly owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. This trade represents a 16.07 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the business's stock in a transaction on 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 transaction, the director now directly owns 9,680,049 shares of the company's stock, 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. In the last 90 days, insiders sold 6,417,380 shares of company stock valued at $248,273,935. Insiders own 38.00% of the company's stock.

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.