Loomis Sayles & Co. L P Acquires Shares of 191,259 Alkami Technology, Inc. (NASDAQ:ALKT)

Loomis Sayles & Co. L P purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 191,259 shares of the company's stock, valued at approximately $6,032,000. Loomis Sayles & Co. L P owned about 0.19% of Alkami Technology at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ALKT. Algert Global LLC increased its position in Alkami Technology by 102.6% in the third quarter. Algert Global LLC now owns 202,947 shares of the company's stock worth $6,401,000 after purchasing an additional 102,799 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Alkami Technology by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company's stock valued at $16,854,000 after acquiring an additional 120,845 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of Alkami Technology in the 3rd quarter worth $387,000. Advisors Asset Management Inc. grew its stake in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock worth $37,000 after purchasing an additional 631 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. increased its holdings in Alkami Technology by 108.8% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company's stock valued at $1,719,000 after purchasing an additional 28,395 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Stock Performance

NASDAQ ALKT traded down $0.41 during trading on Thursday, reaching $39.28. 786,138 shares of the company's stock were exchanged, compared to its average volume of 522,935. 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 business has a 50 day moving average price of $35.69 and a 200-day moving average price of $31.88. The stock has a market capitalization of $3.95 billion, a P/E ratio of -83.57 and a beta of 0.43. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $42.29.

Analysts Set New Price Targets

A number of analysts have recently commented on ALKT shares. Lake Street Capital upped their price target on Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. 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. Craig Hallum boosted their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. The Goldman Sachs Group upped their price target 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. Finally, Barclays increased their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $37.44.

Insider Transactions at Alkami Technology

In related news, CEO Alex Shootman sold 37,758 shares of the company's stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This represents a 3.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Bohanon sold 15,605 shares of the firm's stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total transaction of $492,961.95. Following the sale, the insider now owns 388,181 shares of the company's stock, valued at $12,262,637.79. This trade represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 6,360,428 shares of company stock worth $244,916,568. 25.90% of the stock is owned by company insiders.

Alkami Technology Company 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.