Rhumbline Advisers Grows Holdings in Alkami Technology, Inc. $ALKT

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

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Perkins Coie Trust Co increased its holdings in Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock valued at $34,000 after buying an additional 500 shares in the last quarter. Covestor Ltd grew its position in shares of Alkami Technology by 18.8% in the first quarter. Covestor Ltd now owns 3,252 shares of the company’s stock valued at $85,000 after purchasing an additional 514 shares during the period. Amundi grew its position in shares of Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after purchasing an additional 548 shares during the period. Advisors Asset Management Inc. grew its position in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after purchasing an additional 594 shares during the period. Finally, Amalgamated Bank grew its position in shares of Alkami Technology by 50.8% in the first quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock valued at $55,000 after purchasing an additional 704 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

ALKT opened at $25.88 on Thursday. The firm has a market capitalization of $2.69 billion, a PE ratio of -68.11 and a beta of 0.58. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29. The firm’s 50-day moving average price is $25.01 and its 200 day moving average price is $26.71. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17.

Insider Buying and Selling

In other Alkami Technology news, CAO Prerna Sachdeva sold 2,967 shares of Alkami Technology stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total transaction of $73,462.92. Following the transaction, the chief accounting officer directly owned 66,061 shares of the company’s stock, valued at $1,635,670.36. The trade was a 4.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Atlantic Genpar (Bermu General bought 650,000 shares of Alkami Technology stock in a transaction on Monday, August 11th. The shares were purchased at an average cost of $20.70 per share, for a total transaction of $13,455,000.00. Following the completion of the purchase, the director directly owned 11,287,274 shares of the company’s stock, valued at $233,646,571.80. This trade represents a 6.11% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 1,396,162 shares of company stock worth $29,692,440. 18.10% of the stock is owned by insiders.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. initiated coverage on shares of Alkami Technology in a research report on Wednesday, June 18th. They issued an “overweight” rating and a $40.00 target price on the stock. Six investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average target price of $39.25.

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.