Northern Trust Corp Grows Stock Holdings in Alkami Technology, Inc. $ALKT

Northern Trust Corp raised its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 14.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 744,271 shares of the company’s stock after buying an additional 92,165 shares during the period. Northern Trust Corp owned about 0.72% of Alkami Technology worth $19,537,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of ALKT. Perkins Coie Trust Co raised its holdings in shares of Alkami Technology by 62.5% in the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock valued at $34,000 after purchasing an additional 500 shares in the last quarter. Versant Capital Management Inc bought a new stake in shares of Alkami Technology in the 1st quarter valued at about $36,000. Amalgamated Bank raised its holdings in shares of Alkami Technology by 50.8% in the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock valued at $55,000 after purchasing an additional 704 shares in the last quarter. Summit Securities Group LLC bought a new stake in shares of Alkami Technology in the 1st quarter valued at about $59,000. Finally, NBC Securities Inc. raised its holdings in shares of Alkami Technology by 114,550.0% in the 1st quarter. NBC Securities Inc. now owns 2,293 shares of the company’s stock valued at $60,000 after purchasing an additional 2,291 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, 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. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $39.25.

Insider Activity

In related news, Director Atlantic Genpar (Bermu General purchased 650,000 shares of the firm’s stock in a transaction on Monday, August 11th. The stock was acquired at an average price of $20.70 per share, with a total value of $13,455,000.00. Following the completion of the acquisition, the director owned 11,287,274 shares in the company, valued at approximately $233,646,571.80. This represents a 6.11% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have acquired a total of 1,396,162 shares of company stock valued at $29,692,440 over the last three months. Company insiders own 18.10% of the company’s stock.

Alkami Technology Trading Down 0.4%

NASDAQ:ALKT opened at $25.60 on Tuesday. Alkami Technology, Inc. has a 52 week low of $19.94 and a 52 week high of $42.29. The firm has a 50 day moving average of $26.16 and a 200 day moving average of $27.13. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of -67.37 and a beta of 0.58.

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.