Teacher Retirement System of Texas Acquires New Shares in Alkami Technology, Inc. (NASDAQ:ALKT)

Teacher Retirement System of Texas purchased a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the first quarter, according to the company in its most recent filing with the SEC. The firm purchased 9,448 shares of the company’s stock, valued at approximately $248,000.

Several other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in Alkami Technology by 5,747.1% during the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after purchasing an additional 2,661,027 shares during the last quarter. Whale Rock Capital Management LLC bought a new position in shares of Alkami Technology in the 4th quarter worth approximately $78,878,000. Champlain Investment Partners LLC purchased a new position in shares of Alkami Technology in the fourth quarter worth approximately $57,772,000. Invesco Ltd. grew its position in Alkami Technology by 353.1% during the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after buying an additional 1,134,746 shares during the period. Finally, JPMorgan Chase & Co. grew its holdings in Alkami Technology by 278.2% during the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock valued at $52,649,000 after purchasing an additional 1,055,828 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alkami Technology

In other news, Director Joseph P. Payne purchased 8,200 shares of the firm’s stock in a transaction on Thursday, May 15th. The stock was purchased at an average cost of $30.46 per share, with a total value of $249,772.00. Following the purchase, the director owned 21,128 shares in the company, valued at $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 available through this hyperlink. Also, CFO W Bryan Hill sold 20,365 shares of the business’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $577,551.40. Following the sale, the chief financial officer directly owned 430,255 shares in the company, valued at $12,202,031.80. This trade represents a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 27,690 shares of company stock worth $785,288 in the last 90 days. 18.10% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of research analyst reports. Needham & Company LLC decreased their target price on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They issued an “overweight” rating and a $40.00 price target for the company. JMP Securities reiterated a “market outperform” rating and issued a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Lake Street Capital decreased their price objective on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research report on Thursday, May 1st. Finally, Barclays reduced their target price on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $39.25.

Alkami Technology Stock Down 0.4%

Shares of NASDAQ ALKT opened at $27.81 on Friday. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.75 and a quick ratio of 2.75. The business has a 50-day moving average of $29.36 and a two-hundred day moving average of $29.56. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -73.18 and a beta of 0.59. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year 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.