US Bancorp DE Buys Shares of 8,202 Alkami Technology, Inc. (NASDAQ:ALKT)

US Bancorp DE purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,202 shares of the company’s stock, valued at approximately $259,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Driehaus Capital Management LLC raised its stake in Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the last quarter. Millennium Management LLC raised its position in shares of Alkami Technology by 124.1% in the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after purchasing an additional 284,977 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in Alkami Technology in the 1st quarter worth about $5,569,000. Massachusetts Financial Services Co. MA boosted its stake in Alkami Technology by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after purchasing an additional 181,194 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its position in Alkami Technology by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after purchasing an additional 120,468 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ALKT shares. Craig Hallum increased their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays lifted their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC upped their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Lake Street Capital increased their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, JMP Securities boosted their target price 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Trading Up 0.5 %

Alkami Technology stock opened at $37.79 on Thursday. The business has a 50-day simple moving average of $33.85 and a two-hundred day simple moving average of $30.96. Alkami Technology, Inc. has a 52-week low of $21.19 and a 52-week high of $41.36. 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 company has a market cap of $3.80 billion, a P/E ratio of -80.40 and a beta of 0.43.

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 69,511 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the transaction, the chief financial officer now directly owns 489,340 shares in the company, valued at approximately $16,314,595.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CFO W Bryan Hill sold 69,511 shares of the company’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $33.34, for a total value of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $16,314,595.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Stephen Bohanon sold 35,893 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80. Following the completion of the transaction, the insider now directly owns 403,786 shares in the company, valued at approximately $13,567,209.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,112,491 shares of company stock worth $115,454,041. 38.00% of the stock is owned by company insiders.

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.