Connor Clark & Lunn Investment Management Ltd. Purchases 28,395 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Connor Clark & Lunn Investment Management Ltd. lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 108.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 54,494 shares of the company’s stock after acquiring an additional 28,395 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned 0.05% of Alkami Technology worth $1,719,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Park Place Capital Corp bought a new stake in Alkami Technology in the third quarter worth about $28,000. Blue Trust Inc. raised its holdings in shares of 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 buying an additional 1,014 shares during the period. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology during the 2nd quarter worth approximately $40,000. Perkins Coie Trust Co purchased a new position in Alkami Technology during the 2nd quarter valued at $85,000. Finally, Covestor Ltd boosted its holdings in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after acquiring an additional 2,646 shares during the period. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Trading Up 3.8 %

ALKT opened at $42.22 on Tuesday. Alkami Technology, Inc. has a 12 month low of $21.19 and a 12 month high of $42.29. The stock has a fifty day moving average price of $35.34 and a 200-day moving average price of $31.73. The firm has a market cap of $4.24 billion, a price-to-earnings ratio of -89.83 and a beta of 0.43. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 110,250 shares of the stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $38.62, for a total transaction of $4,257,855.00. Following the completion of the sale, the chief financial officer now owns 471,403 shares in the company, valued at approximately $18,205,583.86. This represents a 18.95 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction 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 transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This trade represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,296,566 shares of company stock worth $122,693,836. 25.90% of the stock is owned by corporate insiders.

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.