Franklin Resources Inc. Has $61.36 Million Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Franklin Resources Inc. boosted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 4.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,804,825 shares of the company's stock after buying an additional 75,469 shares during the period. Franklin Resources Inc. owned approximately 1.80% of Alkami Technology worth $61,364,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its stake in shares of Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock valued at $38,865,000 after acquiring an additional 173,394 shares during the last quarter. Bullseye Asset Management LLC raised its holdings in Alkami Technology by 6.2% in the third quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company's stock worth $2,707,000 after purchasing an additional 5,000 shares during the period. Barclays PLC boosted its position in shares of Alkami Technology by 108.2% during the third quarter. Barclays PLC now owns 95,391 shares of the company's stock worth $3,009,000 after purchasing an additional 49,580 shares in the last quarter. Castleark Management LLC acquired a new position in shares of Alkami Technology in the 3rd quarter valued at $6,050,000. Finally, State Street Corp increased its position in shares of Alkami Technology by 5.1% in the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company's stock valued at $34,328,000 after buying an additional 52,699 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. JMP Securities boosted their target price on Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a research note on Tuesday, October 29th. Needham & Company LLC increased their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Barclays lifted their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Craig Hallum increased their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $40.88.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 55,046 shares of Alkami Technology stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the completion of the sale, the chief financial officer now owns 471,403 shares of the company's stock, valued at approximately $14,703,059.57. The trade was a 10.46 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the firm's stock in a transaction that occurred 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 sale, the director now owns 9,680,049 shares of the company's stock, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,372,426 shares of company stock worth $246,013,820 over the last 90 days. Company insiders own 38.00% of the company's stock.

Alkami Technology Stock Down 1.5 %

NASDAQ:ALKT traded down $0.61 on Tuesday, hitting $39.10. 560,571 shares of the company's stock were exchanged, compared to its average volume of 541,684. 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 firm has a 50-day moving average price of $37.68 and a 200-day moving average price of $33.00. The company has a market cap of $3.93 billion, a P/E ratio of -82.72 and a beta of 0.46. Alkami Technology, Inc. has a 52 week low of $22.62 and a 52 week high of $42.29.

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.