Blue Trust Inc. Buys 1,974 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Blue Trust Inc. lifted its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 162.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,188 shares of the company’s stock after acquiring an additional 1,974 shares during the quarter. Blue Trust Inc.’s holdings in Alkami Technology were worth $117,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. JPMorgan Chase & Co. grew its stake in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares during the last quarter. Trust Point Inc. purchased a new stake in shares of Alkami Technology during the 3rd quarter valued at $1,029,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Alkami Technology in the 3rd quarter worth $1,860,000. FMR LLC grew its stake in Alkami Technology by 10.2% during the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after buying an additional 141,319 shares during the last quarter. Finally, Geode Capital Management LLC increased its position in Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after buying an additional 173,394 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $35.93 on Friday. The stock has a market capitalization of $3.61 billion, a PE ratio of -76.45 and a beta of 0.47. Alkami Technology, Inc. has a 52 week low of $22.65 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 stock’s 50-day moving average price is $37.09 and its 200-day moving average price is $35.05.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total value of $199,186.78. Following the sale, the insider now owns 248,585 shares in the company, valued at $9,451,201.70. This trade represents a 2.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 4,016,878 shares of company stock valued at $157,847,859. Company insiders own 25.90% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKT has been the topic of several research reports. JPMorgan Chase & Co. upped their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. JMP Securities lifted 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. Craig Hallum increased their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC increased their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.