State Street Corp Has $34.33 Million Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

State Street Corp increased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 5.1% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,088,408 shares of the company’s stock after acquiring an additional 52,699 shares during the period. State Street Corp’s holdings in Alkami Technology were worth $34,328,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALKT. Stifel Financial Corp acquired a new position in shares of Alkami Technology in the 3rd quarter valued at about $223,000. HighTower Advisors LLC purchased a new position in Alkami Technology during the third quarter valued at approximately $647,000. PDT Partners LLC increased its stake in Alkami Technology by 4.5% in the 3rd quarter. PDT Partners LLC now owns 45,042 shares of the company’s stock valued at $1,421,000 after buying an additional 1,947 shares during the period. Verition Fund Management LLC lifted its position in Alkami Technology by 23.3% in the 3rd quarter. Verition Fund Management LLC now owns 40,165 shares of the company’s stock worth $1,267,000 after buying an additional 7,602 shares in the last quarter. Finally, Captrust Financial Advisors lifted its position in Alkami Technology by 70.9% in the 3rd quarter. Captrust Financial Advisors now owns 28,482 shares of the company’s stock worth $898,000 after buying an additional 11,813 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the stock. JMP Securities upped their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Needham & Company LLC upped their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Barclays increased their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, Craig Hallum lifted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.88.

Insider Buying and Selling

In related news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the completion of the transaction, the director now owns 9,680,049 shares of the company’s stock, valued at approximately $384,781,947.75. The trade was a 23.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $37.50, for a total value of $93,750,000.00. Following the sale, the director now owns 13,055,049 shares of the company’s stock, valued at approximately $489,564,337.50. The trade was a 16.07 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,472,426 shares of company stock valued at $249,990,820. Company insiders own 25.90% of the company’s stock.

Alkami Technology Trading Up 1.2 %

Shares of ALKT stock opened at $39.12 on Friday. Alkami Technology, Inc. has a 12 month low of $22.62 and a 12 month high of $42.29. The company has a market cap of $3.93 billion, a PE ratio of -83.23 and a beta of 0.46. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The business’s 50 day moving average is $38.12 and its two-hundred day moving average is $33.23.

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.