Alkami Technology, Inc. (NASDAQ:ALKT) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors boosted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 70.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,482 shares of the company’s stock after purchasing an additional 11,813 shares during the quarter. Captrust Financial Advisors’ holdings in Alkami Technology were worth $898,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Icon Wealth Advisors LLC acquired a new position in Alkami Technology in the third quarter valued at approximately $155,000. Walleye Capital LLC acquired a new position in Alkami Technology in the third quarter valued at approximately $365,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alkami Technology by 46.6% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,447 shares of the company’s stock valued at $298,000 after purchasing an additional 3,004 shares in the last quarter. Quantbot Technologies LP boosted its holdings in Alkami Technology by 20.6% in the third quarter. Quantbot Technologies LP now owns 8,915 shares of the company’s stock valued at $281,000 after purchasing an additional 1,524 shares in the last quarter. Finally, FMR LLC lifted its stake in Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after buying an additional 141,319 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Price Performance

Alkami Technology stock opened at $38.16 on Tuesday. Alkami Technology, Inc. has a 12 month low of $22.33 and a 12 month high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The business has a 50 day simple moving average of $36.95 and a 200-day simple moving average of $32.60. The stock has a market capitalization of $3.84 billion, a PE ratio of -81.19 and a beta of 0.46.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALKT. Barclays boosted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday. 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 note on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, JMP Securities boosted their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average price target of $40.88.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 55,046 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.19, for a total value of $1,716,884.74. Following the completion of the transaction, the chief financial officer now owns 471,403 shares in the company, valued at approximately $14,703,059.57. This represents a 10.46 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 5,239 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total value of $199,186.78. Following the completion of the transaction, the insider now owns 248,585 shares of the company’s stock, valued at $9,451,201.70. The trade was a 2.06 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 6,322,426 shares of company stock worth $244,011,320. 25.90% of the stock is owned by corporate insiders.

About Alkami Technology

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.