Lee Financial Co acquired a new position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 62,508 shares of the company's stock, valued at approximately $2,293,000. Lee Financial Co owned approximately 0.06% of Alkami Technology at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in Alkami Technology by 474.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock worth $11,971,000 after buying an additional 313,478 shares during the period. Oppenheimer Asset Management Inc. bought a new position in Alkami Technology in the 3rd quarter worth $1,860,000. FMR LLC boosted its holdings in Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company's stock worth $48,059,000 after buying an additional 141,319 shares during the period. Geode Capital Management LLC boosted its holdings in Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock worth $38,865,000 after buying an additional 173,394 shares during the period. Finally, Fifth Third Wealth Advisors LLC bought a new position in Alkami Technology in the 3rd quarter worth $1,115,000. Institutional investors own 54.97% of the company's stock.
Analysts Set New Price Targets
ALKT has been the subject of several research reports. Craig Hallum increased their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a 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. Needham & Company LLC increased their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Barclays increased their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $43.00.
Read Our Latest Research Report on Alkami Technology
Insider Buying and Selling
In other news, 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 shares were 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 trade represents a 23.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 43,336 shares of the firm's stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $38.50, for a total transaction of $1,668,436.00. Following the transaction, the insider now directly owns 248,585 shares in the company, valued at approximately $9,570,522.50. This trade represents a 14.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,536,639 shares of company stock valued at $139,955,172 in the last ninety days. 25.90% of the stock is owned by company insiders.
Alkami Technology Trading Down 4.2 %
Alkami Technology stock traded down $1.41 during midday trading on Wednesday, reaching $31.96. The stock had a trading volume of 724,702 shares, compared to its average volume of 535,922. 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 $3.21 billion, a price-to-earnings ratio of -68.00 and a beta of 0.47. The company has a fifty day moving average of $36.09 and a 200 day moving average of $35.09.
About Alkami Technology
(
Free Report)
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.
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