Victory Capital Management Inc. acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 31,042 shares of the company's stock, valued at approximately $979,000.
Other large investors have also recently bought and sold shares of the company. Park Place Capital Corp purchased a new stake in Alkami Technology during the third quarter worth $28,000. Blue Trust Inc. grew its stake in 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 acquiring an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in Alkami Technology during the 2nd quarter valued at about $40,000. Perkins Coie Trust Co acquired a new position in Alkami Technology during the second quarter worth about $85,000. Finally, Covestor Ltd raised its position 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 acquiring an additional 2,646 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.
Alkami Technology Trading Down 1.0 %
Shares of ALKT stock traded down $0.41 during mid-day trading on Thursday, reaching $39.28. The company's stock had a trading volume of 786,138 shares, compared to its average volume of 522,935. 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 firm has a market capitalization of $3.95 billion, a PE ratio of -83.57 and a beta of 0.43. The company's 50 day simple moving average is $35.52 and its 200-day simple moving average is $31.83. Alkami Technology, Inc. has a 12-month low of $21.19 and a 12-month high of $42.29.
Insider Buying and Selling at Alkami Technology
In other news, insider Stephen Bohanon sold 15,605 shares of the business's stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the transaction, the insider now directly owns 388,181 shares of the company's stock, valued at approximately $12,262,637.79. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of the firm's stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the sale, the chief executive officer now directly owns 1,056,207 shares of the company's stock, valued at approximately $31,422,158.25. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,360,428 shares of company stock valued at $244,916,568 over the last three months. 25.90% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research firms recently commented on ALKT. Barclays lifted their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st. Lake Street Capital boosted their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a research report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. JMP Securities raised their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a report on Tuesday, October 29th. Finally, Craig Hallum increased their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $37.44.
Check Out Our Latest Stock Analysis on ALKT
About Alkami Technology
(
Free Report)
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.
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