JPMorgan Chase & Co. Has $11.97 Million Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

JPMorgan Chase & Co. lifted its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 474.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 379,542 shares of the company’s stock after purchasing an additional 313,478 shares during the period. JPMorgan Chase & Co. owned 0.38% of Alkami Technology worth $11,971,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. nVerses Capital LLC lifted its position in shares of Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after acquiring an additional 500 shares during the period. Advisors Asset Management Inc. lifted its position in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the period. Harbor Capital Advisors Inc. lifted its position in Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after purchasing an additional 691 shares during the period. Park Place Capital Corp bought a new position in Alkami Technology in the 3rd quarter valued at about $28,000. Finally, Blue Trust Inc. lifted its holdings in shares of Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the period. Institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ALKT. Barclays lifted their price objective 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. JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group raised their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JMP Securities increased their price objective 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. Finally, Needham & Company LLC upped their price target 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. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the completion of the transaction, the chief financial officer now owns 471,403 shares of the company’s stock, valued at $17,116,642.93. This trade represents a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 50,000 shares of the company’s stock in a transaction on Thursday, December 12th. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the sale, the insider now directly owns 191,668 shares in the company, valued at $7,676,303.40. This trade represents a 20.69 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,417,380 shares of company stock worth $248,273,935. Insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $34.15 on Monday. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -72.66 and a beta of 0.48. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a twelve month low of $22.65 and a twelve month high of $42.29. The company’s fifty day moving average is $38.21 and its 200 day moving average is $34.49.

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.