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

Intech Investment Management LLC bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the 3rd quarter, according to its most recent disclosure with the SEC. The firm bought 12,269 shares of the company’s stock, valued at approximately $387,000.

Other large investors also recently bought and sold shares of the company. Driehaus Capital Management LLC raised its holdings in Alkami Technology by 56.2% in 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 last quarter. Millennium Management LLC grew its position in Alkami Technology by 124.1% during the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after buying an additional 284,977 shares during the period. Massachusetts Financial Services Co. MA grew its position in Alkami Technology by 13.0% during 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 buying an additional 181,194 shares during the period. Dimensional Fund Advisors LP grew its position in Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after buying an additional 120,468 shares during the period. Finally, SG Americas Securities LLC purchased a new position in Alkami Technology during the second quarter valued at approximately $2,668,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CFO W Bryan Hill sold 99,755 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the sale, the chief financial officer now owns 371,648 shares of the company’s stock, valued at approximately $15,568,334.72. The trade was a 21.16 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction on 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 sale, the director now directly owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. This trade represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,360,428 shares of company stock worth $244,916,568 in the last three months. Corporate insiders own 25.90% of the company’s stock.

Alkami Technology Stock Up 0.9 %

NASDAQ:ALKT opened at $38.42 on Wednesday. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week 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. The company’s 50-day simple moving average is $36.13 and its 200-day simple moving average is $32.20.

Wall Street Analysts Forecast Growth

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

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.