Principal Financial Group Inc. Makes New Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Principal Financial Group Inc. purchased a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 27,755 shares of the company’s stock, valued at approximately $875,000.

A number of other institutional investors also recently modified their holdings of ALKT. Park Place Capital Corp bought a new stake in Alkami Technology in the 3rd quarter valued at approximately $28,000. Blue Trust Inc. lifted its position in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in Alkami Technology during the second quarter worth $40,000. Perkins Coie Trust Co bought a new position in Alkami Technology in the second quarter valued at $85,000. Finally, nVerses Capital LLC acquired a new stake in Alkami Technology in the 2nd quarter valued at $88,000. 54.97% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alkami Technology

In other news, insider Douglas A. Linebarger sold 43,336 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $38.50, for a total transaction of $1,668,436.00. Following the transaction, the insider now owns 248,585 shares in the company, valued at approximately $9,570,522.50. This trade represents a 14.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,366,077 shares of company stock valued at $125,011,332 in the last three months. 38.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on ALKT. Needham & Company LLC increased their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Lake Street Capital raised their price target on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Craig Hallum upped their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays increased their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, JMP Securities boosted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $40.69 on Friday. The stock has a market cap of $4.09 billion, a PE ratio of -86.57 and a beta of 0.43. 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 firm has a 50-day moving average of $35.10 and a 200-day moving average of $31.59. Alkami Technology, Inc. has a 52-week low of $21.19 and a 52-week high of $41.36.

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.