Barclays PLC Boosts Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Barclays PLC raised its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 108.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 95,391 shares of the company’s stock after buying an additional 49,580 shares during the period. Barclays PLC’s holdings in Alkami Technology were worth $3,009,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Trust Point Inc. purchased a new position in Alkami Technology during the 3rd quarter valued at $1,029,000. Oppenheimer Asset Management Inc. purchased a new stake in shares of Alkami Technology during the third quarter valued at $1,860,000. FMR LLC grew its holdings in shares of Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after purchasing an additional 141,319 shares during the last quarter. Fifth Third Wealth Advisors LLC purchased a new position in Alkami Technology in the 3rd quarter worth about $1,115,000. Finally, Principal Financial Group Inc. bought a new stake in Alkami Technology during the 3rd quarter valued at about $875,000. Institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Barclays raised 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. Craig Hallum upped their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC raised their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $40.88.

Insider Buying and Selling at Alkami Technology

In related news, Director Atlantic L.P. General sold 2,500,000 shares of the business’s stock in a transaction on Friday, November 8th. The stock was sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the transaction, the director now directly owns 13,055,049 shares in the company, valued at $489,564,337.50. The trade was a 16.07 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00. Following the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at $17,116,642.93. This represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,417,380 shares of company stock worth $248,273,935 over the last three months. Corporate insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

ALKT stock opened at $38.93 on Tuesday. The firm has a 50-day simple moving average of $38.12 and a two-hundred day simple moving average of $33.32. 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, Inc. has a one year low of $22.62 and a one year high of $42.29. The firm has a market cap of $3.91 billion, a price-to-earnings ratio of -82.83 and a beta of 0.46.

Alkami Technology 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.