Massachusetts Financial Services Co. MA Sells 256,067 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Massachusetts Financial Services Co. MA lessened its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 16.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,314,112 shares of the company's stock after selling 256,067 shares during the period. Massachusetts Financial Services Co. MA owned approximately 1.31% of Alkami Technology worth $41,447,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ALKT. nVerses Capital LLC boosted its position in shares of Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock worth $114,000 after buying an additional 500 shares during the period. Advisors Asset Management Inc. boosted its holdings in Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after purchasing an additional 631 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company's stock valued at $193,000 after purchasing an additional 691 shares during the last quarter. Park Place Capital Corp purchased a new position in Alkami Technology in the third quarter valued at about $28,000. Finally, Blue Trust Inc. boosted its holdings in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after purchasing an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 110,250 shares of Alkami Technology stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $38.62, for a total value of $4,257,855.00. Following the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at approximately $18,205,583.86. The trade was a 18.95 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Stephen Bohanon sold 35,893 shares of Alkami Technology stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the completion of the transaction, the insider now owns 403,786 shares in the company, valued at $13,567,209.60. The trade was a 8.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 3,366,077 shares of company stock worth $125,011,332. Company insiders own 25.90% of the company's stock.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT traded up $1.40 on Monday, reaching $42.09. The company had a trading volume of 1,078,382 shares, compared to its average volume of 511,055. 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 50-day moving average price of $35.10 and a 200 day moving average price of $31.62. Alkami Technology, Inc. has a twelve month low of $21.19 and a twelve month high of $42.11.

Analyst Ratings Changes

Several brokerages have issued reports on ALKT. The Goldman Sachs Group upped their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. 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 report on Tuesday, October 29th. Lake Street Capital increased their price objective on Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Barclays increased their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Finally, Craig Hallum increased their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Three equities research 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $37.44.

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.