Barclays PLC Acquires 49,580 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Barclays PLC boosted its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 108.2% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 95,391 shares of the company’s stock after acquiring an additional 49,580 shares during the period. Barclays PLC owned 0.09% of Alkami Technology worth $3,009,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of ALKT. Castleark Management LLC bought a new position in shares of Alkami Technology in the third quarter worth $6,050,000. State Street Corp boosted its stake in shares of Alkami Technology by 5.1% in the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company’s stock valued at $34,328,000 after purchasing an additional 52,699 shares in the last quarter. Stifel Financial Corp bought a new stake in Alkami Technology in the 3rd quarter worth $223,000. HighTower Advisors LLC bought a new stake in Alkami Technology during the third quarter worth about $647,000. Finally, PDT Partners LLC lifted its holdings in shares of Alkami Technology by 4.5% during the third quarter. PDT Partners LLC now owns 45,042 shares of the company’s stock valued at $1,421,000 after purchasing an additional 1,947 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $38.93 on Tuesday. Alkami Technology, Inc. has a 52 week low of $22.62 and a 52 week high of $42.29. 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 company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -82.83 and a beta of 0.46. The stock’s 50-day simple moving average is $38.12 and its 200-day simple moving average is $33.32.

Insider Activity

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 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 in the company, valued at approximately $489,564,337.50. The trade was a 16.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the transaction, the director now owns 9,680,049 shares of the company’s stock, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,417,380 shares of company stock worth $248,273,935 over the last quarter. Insiders own 38.00% of the company’s stock.

Analyst Ratings Changes

ALKT has been the subject of several recent analyst reports. JPMorgan Chase & Co. lifted their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. JMP Securities boosted their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. The Goldman Sachs Group increased 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 lifted 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 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 report 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. Based on data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $40.88.

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.