Olympiad Research LP Takes $429,000 Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Olympiad Research LP acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 13,590 shares of the company's stock, valued at approximately $429,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Trust Point Inc. purchased a new position in Alkami Technology in the third quarter worth $1,029,000. Lisanti Capital Growth LLC acquired a new stake in shares of Alkami Technology in the 1st quarter worth approximately $3,316,000. Driehaus Capital Management LLC increased its stake in Alkami Technology by 56.2% in the 2nd 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 in the last quarter. Millennium Management LLC boosted 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 worth $14,658,000 after purchasing an additional 284,977 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in Alkami Technology by 24.0% in the second quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company's stock valued at $6,024,000 after purchasing an additional 40,949 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on ALKT shares. The Goldman Sachs Group raised their target price 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. Barclays upped their target price 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. JMP Securities lifted their price target on shares of 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 raised their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a research report on Thursday, August 1st. Finally, Craig Hallum boosted their price target on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $37.44.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 69,511 shares of the firm's stock in a transaction dated Tuesday, August 27th. The stock was sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $16,314,595.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Alkami Technology news, major shareholder George B. Kaiser sold 1,666,666 shares of the stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the transaction, the insider now owns 8,419,784 shares of the company's stock, valued at $262,444,667.28. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 69,511 shares of the business's stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the completion of the sale, the chief financial officer now owns 489,340 shares of the company's stock, valued at $16,314,595.60. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,565,083 shares of company stock valued at $111,323,268 in the last quarter. Company insiders own 38.00% of the company's stock.

Alkami Technology Stock Down 5.3 %

Alkami Technology stock traded down $2.10 during midday trading on Thursday, hitting $37.76. 4,260,021 shares of the company were exchanged, compared to its average volume of 479,820. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a fifty-two week low of $20.38 and a fifty-two week high of $41.36. The company's fifty day moving average price is $33.47 and its 200-day moving average price is $30.53. The company has a market cap of $3.79 billion, a PE ratio of -80.26 and a beta of 0.43.

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.