Oppenheimer Asset Management Inc. Takes Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Oppenheimer Asset Management Inc. purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 58,966 shares of the company's stock, valued at approximately $1,860,000. Oppenheimer Asset Management Inc. owned 0.06% of Alkami Technology as of its most recent SEC filing.

Several other large investors have also made changes to their positions in ALKT. Swiss National Bank boosted its position in shares of Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company's stock worth $2,081,000 after buying an additional 1,100 shares during the period. Blair William & Co. IL boosted its stake in shares of Alkami Technology by 51.1% during the first quarter. Blair William & Co. IL now owns 16,155 shares of the company's stock valued at $397,000 after purchasing an additional 5,460 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company's stock valued at $114,264,000 after acquiring an additional 88,390 shares during the last quarter. Acadian Asset Management LLC bought a new position in shares of Alkami Technology during the 1st quarter worth about $140,000. Finally, MQS Management LLC bought a new stake in Alkami Technology during the 1st quarter worth approximately $237,000. Institutional investors own 54.97% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALKT. Lake Street Capital increased their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a report on Thursday, August 1st. Barclays boosted 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. The Goldman Sachs Group increased their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Craig Hallum increased their price target on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC boosted their price objective on Alkami Technology from $43.00 to $54.00 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 issued a buy rating to the company. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of "Moderate Buy" and a consensus target price of $37.44.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 375,000 shares of the company's stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.50, for a total value of $14,062,500.00. Following the completion of the transaction, the director now owns 12,680,049 shares in the company, valued at $475,501,837.50. This represents a 2.87 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alex Shootman sold 37,758 shares of Alkami Technology stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares of the company's stock, valued at approximately $31,422,158.25. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,112,491 shares of company stock valued at $115,454,041. Corporate insiders own 38.00% of the company's stock.

Alkami Technology Trading Down 2.6 %

Shares of ALKT stock traded down $0.97 during midday trading on Friday, reaching $35.93. 671,269 shares of the company traded hands, compared to its average volume of 1,102,623. 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 firm's 50 day simple moving average is $34.22 and its two-hundred day simple moving average is $31.18. Alkami Technology, Inc. has a 1-year low of $21.19 and a 1-year high of $41.36.

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.