Riverbridge Partners LLC Sells 137,019 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Riverbridge Partners LLC lowered its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 6.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,890,192 shares of the company's stock after selling 137,019 shares during the period. Riverbridge Partners LLC owned 1.88% of Alkami Technology worth $69,332,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. nVerses Capital LLC boosted its stake 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 worth $114,000 after acquiring an additional 500 shares during the period. Harbor Capital Advisors Inc. boosted its position in Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock worth $247,000 after purchasing an additional 615 shares during the period. Advisors Asset Management Inc. boosted its position in 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. Park Place Capital Corp acquired a new position in shares of Alkami Technology in the third quarter valued at $28,000. Finally, Blue Trust Inc. raised its position in shares of 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 period. Institutional investors and hedge funds own 54.97% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. Craig Hallum upped their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Needham & Company LLC increased their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. 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 research report on Tuesday, October 29th. Finally, JPMorgan Chase & Co. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $43.00.

Alkami Technology Price Performance

ALKT stock traded up $0.04 during midday trading on Thursday, reaching $35.34. The company had a trading volume of 188,866 shares, compared to its average volume of 527,503. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of -75.17 and a beta of 0.48. 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 1-year low of $22.65 and a 1-year high of $42.29. The stock has a 50 day moving average price of $37.77 and a 200-day moving average price of $34.76.

Insider Activity

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Atlantic L.P. General sold 2,500,000 shares of the business's stock in a transaction on Friday, November 8th. The stock was sold at an average price of $37.50, for a total value of $93,750,000.00. Following the transaction, the director now directly owns 13,055,049 shares of the company's stock, valued at $489,564,337.50. This trade represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,517,380 shares of company stock worth $251,616,935. 38.00% of the stock is currently owned by corporate insiders.

About Alkami Technology

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.