27,755 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by Principal Financial Group Inc.

Principal Financial Group Inc. bought a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 27,755 shares of the company's stock, valued at approximately $875,000.

Several other institutional investors have also recently bought and sold shares of the business. nVerses Capital LLC grew its holdings in shares of Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company's stock valued at $114,000 after purchasing an additional 500 shares during the last quarter. 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 buying an additional 631 shares during the last quarter. Harbor Capital Advisors Inc. increased its holdings in shares of Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company's stock worth $193,000 after buying an additional 691 shares in the last quarter. Park Place Capital Corp bought a new position in shares of Alkami Technology in the 3rd quarter valued at $28,000. Finally, Blue Trust Inc. boosted its holdings in shares of Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after acquiring an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Trading Up 1.7 %

ALKT traded up $0.63 during trading on Friday, reaching $37.53. 280,601 shares of the stock traded hands, compared to its average volume of 312,250. The stock's 50-day moving average is $38.46 and its 200 day moving average is $34.15. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $3.77 billion, a PE ratio of -79.85 and a beta of 0.46.

Insider Activity at Alkami Technology

In other news, Director Atlantic L.P. General sold 2,500,000 shares of the company's stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the transaction, the director now owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. This represents a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the transaction, the director now directly owns 12,680,049 shares in the company, valued at $475,501,837.50. This trade represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,417,380 shares of company stock worth $248,273,935 in the last 90 days. Corporate insiders own 38.00% of the company's stock.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several research reports. JMP Securities increased their target price on Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group raised 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. Craig Hallum boosted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. Needham & Company LLC raised their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. Two 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, Alkami Technology currently has an average rating of "Moderate Buy" and a consensus target price of $40.88.

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.