Oppenheimer Asset Management Inc. Purchases 1,166 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Oppenheimer Asset Management Inc. boosted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 2.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 58,487 shares of the company’s stock after purchasing an additional 1,166 shares during the period. Oppenheimer Asset Management Inc. owned about 0.06% of Alkami Technology worth $1,535,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. Harbor Capital Advisors Inc. increased its holdings in Alkami Technology by 101.1% during the 1st quarter. Harbor Capital Advisors Inc. now owns 13,529 shares of the company’s stock worth $355,000 after purchasing an additional 6,802 shares in the last quarter. Perkins Coie Trust Co increased its holdings in Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares in the last quarter. NBC Securities Inc. increased its holdings in Alkami Technology by 114,550.0% during the 1st quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock worth $60,000 after purchasing an additional 2,291 shares in the last quarter. Rhumbline Advisers increased its holdings in Alkami Technology by 17.4% during the 1st quarter. Rhumbline Advisers now owns 88,430 shares of the company’s stock worth $2,321,000 after purchasing an additional 13,078 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in Alkami Technology by 1,386.9% during the 1st quarter. GAMMA Investing LLC now owns 10,973 shares of the company’s stock worth $288,000 after purchasing an additional 10,235 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Activity at Alkami Technology

In other news, Director Joseph P. Payne bought 8,200 shares of the business’s stock in a transaction that occurred on Thursday, May 15th. The stock was acquired at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the purchase, the director now owns 21,128 shares of the company’s stock, valued at approximately $643,558.88. This trade represents a 63.43% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Douglas A. Linebarger sold 7,170 shares of the firm’s stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $203,341.20. Following the sale, the insider now owns 238,172 shares of the company’s stock, valued at $6,754,557.92. This trade represents a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,690 shares of company stock worth $785,288. Insiders own 18.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALKT. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Needham & Company LLC reduced their price objective on shares of Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research note on Thursday, May 1st. Barclays reduced their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. JMP Securities restated a “market outperform” rating and set a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Finally, JPMorgan Chase & Co. assumed coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They set an “overweight” rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

Alkami Technology Trading Down 1.3%

Shares of NASDAQ:ALKT opened at $29.72 on Friday. Alkami Technology, Inc. has a 52-week low of $21.70 and a 52-week high of $42.29. The company has a market capitalization of $3.06 billion, a P/E ratio of -78.21 and a beta of 0.58. The company has a 50-day simple moving average of $28.61 and a 200 day simple moving average of $30.60. The company has a debt-to-equity ratio of 1.23, a quick ratio of 2.75 and a current ratio of 2.75.

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.