Alkami Technology, Inc. (NASDAQ:ALKT) Shares Bought by Rhumbline Advisers

Rhumbline Advisers increased its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 17.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,430 shares of the company’s stock after acquiring an additional 13,078 shares during the quarter. Rhumbline Advisers owned approximately 0.09% of Alkami Technology worth $2,321,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Alliancebernstein L.P. boosted its stake in Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock worth $99,305,000 after buying an additional 2,661,027 shares during the last quarter. Whale Rock Capital Management LLC acquired a new position in shares of Alkami Technology in the 4th quarter valued at $78,878,000. Champlain Investment Partners LLC acquired a new position in shares of Alkami Technology in the 4th quarter valued at $57,772,000. Invesco Ltd. boosted its holdings in shares of Alkami Technology by 353.1% in the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after purchasing an additional 1,134,746 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock valued at $52,649,000 after acquiring an additional 1,055,828 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on ALKT shares. The Goldman Sachs Group reduced their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a research report on Thursday, March 13th. Lake Street Capital dropped their target price on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Needham & Company LLC lowered their price target on Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Finally, Barclays cut their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $39.88.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 shares of Alkami Technology stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total transaction of $203,341.20. Following the completion of the sale, the insider now owns 238,172 shares of the company’s stock, valued at approximately $6,754,557.92. The trade was a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph P. Payne bought 8,200 shares of the stock in a transaction on Thursday, May 15th. The shares were acquired at an average cost of $30.46 per share, with a total value of $249,772.00. Following the acquisition, the director now directly owns 21,128 shares in the company, valued at approximately $643,558.88. This trade represents a 63.43% increase in their position. The disclosure for this purchase can be found here. Insiders sold a total of 27,690 shares of company stock worth $785,288 over the last three months. 18.10% of the stock is currently owned by company insiders.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $27.19 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a market cap of $2.80 billion, a PE ratio of -57.85 and a beta of 0.58. The business has a fifty day moving average of $27.85 and a 200-day moving average of $31.11. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29.

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.