Envestnet Asset Management Inc. Raises Position in Alkami Technology, Inc. $ALKT

Envestnet Asset Management Inc. increased its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 195.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 404,110 shares of the company’s stock after buying an additional 267,174 shares during the quarter. Envestnet Asset Management Inc. owned 0.39% of Alkami Technology worth $10,038,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Chicago Capital LLC purchased a new stake in shares of Alkami Technology during the third quarter worth about $33,665,000. Westfield Capital Management Co. LP purchased a new stake in Alkami Technology during the 2nd quarter worth approximately $35,884,000. Bamco Inc. NY increased its stake in Alkami Technology by 80.6% during the 2nd quarter. Bamco Inc. NY now owns 1,330,484 shares of the company’s stock valued at $40,101,000 after purchasing an additional 593,659 shares in the last quarter. Algebris UK Ltd. purchased a new position in shares of Alkami Technology in the third quarter worth $12,728,000. Finally, Champlain Investment Partners LLC raised its holdings in shares of Alkami Technology by 18.6% in the second quarter. Champlain Investment Partners LLC now owns 3,064,695 shares of the company’s stock worth $92,370,000 after buying an additional 481,642 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, insider Douglas A. Linebarger sold 8,179 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider directly owned 221,751 shares of the company’s stock, valued at approximately $4,510,415.34. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 18.10% of the stock is currently owned by corporate insiders.

Alkami Technology Trading Up 3.2%

Shares of NASDAQ:ALKT opened at $16.80 on Thursday. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08. Alkami Technology, Inc. has a 12-month low of $15.73 and a 12-month high of $33.53. The business has a 50 day moving average of $20.77 and a two-hundred day moving average of $22.17. The company has a market capitalization of $1.76 billion, a PE ratio of -39.07 and a beta of 0.53.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Zacks Research downgraded Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC reduced their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, October 31st. The Goldman Sachs Group decreased their target price on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Barclays cut their price target on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.29.

Alkami Technology Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.