Intech Investment Management LLC Makes New $387,000 Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Intech Investment Management LLC purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the third quarter, Holdings Channel.com reports. The fund purchased 12,269 shares of the company’s stock, valued at approximately $387,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Driehaus Capital Management LLC increased its stake in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after buying an additional 392,483 shares during the period. Millennium Management LLC increased its stake in Alkami Technology by 124.1% in the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after purchasing an additional 284,977 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock valued at $44,719,000 after acquiring an additional 181,194 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Alkami Technology by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after acquiring an additional 120,468 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Alkami Technology in the second quarter valued at approximately $2,668,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALKT shares. The Goldman Sachs Group increased their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays raised their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum raised their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities raised their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Finally, Needham & Company LLC lifted their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $37.44.

Insider Activity at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the sale, the director now owns 9,680,049 shares of the company’s stock, valued at $384,781,947.75. This represents a 23.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction dated Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The trade was a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,360,428 shares of company stock worth $244,916,568 in the last three months. 25.90% of the stock is owned by company insiders.

Alkami Technology Trading Up 0.9 %

Alkami Technology stock opened at $38.42 on Wednesday. The company has a 50-day simple moving average of $36.13 and a 200-day simple moving average of $32.20. Alkami Technology, Inc. has a one year low of $21.19 and a one year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

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.