Covestor Ltd Purchases 2,646 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Covestor Ltd boosted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 6,300.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,688 shares of the company’s stock after buying an additional 2,646 shares during the quarter. Covestor Ltd’s holdings in Alkami Technology were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Park Place Capital Corp purchased a new stake in shares of Alkami Technology in the 3rd quarter valued at $28,000. Blue Trust Inc. lifted its stake in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in Alkami Technology in the second quarter worth $40,000. Perkins Coie Trust Co purchased a new stake in Alkami Technology during the second quarter valued at about $85,000. Finally, nVerses Capital LLC bought a new position in shares of Alkami Technology during the second quarter valued at about $88,000. 54.97% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ALKT. Lake Street Capital boosted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Craig Hallum boosted their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays raised their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. The Goldman Sachs Group upped their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, JMP Securities raised their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.44.

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 69,511 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at $16,314,595.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 69,511 shares of the stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $33.34, for a total value of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at approximately $16,314,595.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 3,112,491 shares of company stock worth $115,454,041 over the last 90 days. 38.00% of the stock is owned by company insiders.

Alkami Technology Stock Up 0.5 %

Shares of Alkami Technology stock opened at $37.79 on Thursday. The company’s fifty day simple moving average is $33.85 and its two-hundred day simple moving average is $30.96. Alkami Technology, Inc. has a 12-month low of $21.19 and a 12-month high of $41.36. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.80 billion, a P/E ratio of -80.40 and a beta of 0.43.

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.