Royce & Associates LP Sells 166,308 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Royce & Associates LP lowered its position in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 51.4% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 157,102 shares of the company's stock after selling 166,308 shares during the quarter. Royce & Associates LP owned 0.16% of Alkami Technology worth $4,955,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Park Place Capital Corp bought a new stake in Alkami Technology in the third quarter valued at approximately $28,000. Blue Trust Inc. boosted its stake in shares of Alkami Technology by 507.0% in the 3rd 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. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology during the second quarter worth $40,000. Covestor Ltd raised its stake in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company's stock worth $85,000 after buying an additional 2,646 shares during the last quarter. Finally, Perkins Coie Trust Co acquired a new position in shares of Alkami Technology in the 2nd quarter valued at about $85,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ALKT. JMP Securities upped their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a report on Tuesday, October 29th. The Goldman Sachs Group increased their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. Barclays boosted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a report on Thursday, October 31st. Lake Street Capital lifted their price target on Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a research note on Thursday, August 1st. Finally, Craig Hallum boosted 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 investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $37.44.

Alkami Technology Stock Performance

Alkami Technology stock traded up $1.32 during mid-day trading on Tuesday, reaching $37.81. 702,085 shares of the company's stock were exchanged, compared to its average volume of 502,597. The firm has a market capitalization of $3.80 billion, a PE ratio of -80.45 and a beta of 0.43. 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 business's fifty day simple moving average is $34.54 and its 200 day simple moving average is $31.37. Alkami Technology, Inc. has a one year low of $21.19 and a one year high of $41.36.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 5,239 shares of the business's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total value of $199,186.78. Following the transaction, the insider now directly owns 248,585 shares in the company, valued at $9,451,201.70. The trade was a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the firm'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 transaction of $14,062,500.00. Following the sale, the director now owns 12,680,049 shares of the company's stock, valued at approximately $475,501,837.50. The trade was a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,112,491 shares of company stock worth $115,454,041 in the last ninety days. Company insiders own 25.90% of the company's stock.

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.