Victory Capital Management Inc. Makes New $979,000 Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Victory Capital Management Inc. purchased a new position in Alkami Technology, Inc. (NASDAQ:ALKT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 31,042 shares of the company’s stock, valued at approximately $979,000.

Several other hedge funds have also made changes to their positions in the stock. GSA Capital Partners LLP bought a new stake in shares of Alkami Technology in the 3rd quarter worth approximately $203,000. Covestor Ltd lifted its holdings in shares of Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares during the last quarter. Principal Financial Group Inc. bought a new stake in shares of Alkami Technology in the 3rd quarter worth approximately $875,000. Olympiad Research LP bought a new stake in shares of Alkami Technology in the 3rd quarter worth approximately $429,000. Finally, Arlington Capital Management Inc. lifted its holdings in shares of Alkami Technology by 3.5% in the 3rd quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company’s stock worth $2,239,000 after purchasing an additional 2,417 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

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

Alkami Technology Stock Down 1.0 %

Shares of ALKT stock opened at $39.28 on Thursday. Alkami Technology, Inc. has a 1 year low of $21.19 and a 1 year high of $42.29. The stock has a market cap of $3.95 billion, a PE ratio of -83.57 and a beta of 0.43. The business’s fifty day moving average is $35.52 and its 200-day moving average is $31.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Insider Activity

In other news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction on 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. This trade represents a 3.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 17,937 shares of the firm’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $566,629.83. Following the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $14,891,620.77. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,360,428 shares of company stock worth $244,916,568. 25.90% of the stock is owned by company 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.