JPMorgan Chase & Co. Boosts Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

JPMorgan Chase & Co. raised its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 474.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 379,542 shares of the company's stock after buying an additional 313,478 shares during the quarter. JPMorgan Chase & Co. owned about 0.38% of Alkami Technology worth $11,971,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Driehaus Capital Management LLC lifted its position in Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company's stock valued at $31,080,000 after purchasing an additional 392,483 shares during the period. Millennium Management LLC increased its position in Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company's stock valued at $14,658,000 after acquiring an additional 284,977 shares during the last quarter. Castleark Management LLC bought a new position in Alkami Technology in the third quarter valued at about $6,050,000. Loomis Sayles & Co. L P purchased a new stake in shares of Alkami Technology during the 3rd quarter valued at about $6,032,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Alkami Technology by 13.0% in the 2nd 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 during the period. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Trading Down 1.9 %

NASDAQ ALKT opened at $33.49 on Monday. The company has a 50 day moving average price of $38.21 and a 200 day moving average price of $34.49. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. The firm has a market cap of $3.37 billion, a PE ratio of -71.26 and a beta of 0.48.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several analyst reports. Craig Hallum upped their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Barclays boosted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, December 9th. JMP Securities boosted 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. Finally, The Goldman Sachs Group boosted their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Insider Transactions at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the transaction, the director now owns 9,680,049 shares in the company, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 13,055,049 shares in the company, valued at $489,564,337.50. This represents a 16.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,417,380 shares of company stock valued at $248,273,935 in the last quarter. 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.