20,448 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Purchased by HighTower Advisors LLC

HighTower Advisors LLC bought a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the 3rd quarter, according to its most recent disclosure with the SEC. The fund bought 20,448 shares of the company’s stock, valued at approximately $647,000.

Several other institutional investors also recently bought and sold shares of the company. Trust Point Inc. purchased a new position in shares of Alkami Technology in the third quarter valued at approximately $1,029,000. Oppenheimer Asset Management Inc. purchased a new position in Alkami Technology in the 3rd quarter valued at approximately $1,860,000. FMR LLC grew its stake in shares of Alkami Technology by 10.2% in the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after acquiring an additional 141,319 shares in the last quarter. Fifth Third Wealth Advisors LLC purchased a new stake in shares of Alkami Technology during the third quarter worth $1,115,000. Finally, Principal Financial Group Inc. purchased a new stake in shares of Alkami Technology during the third quarter worth $875,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on the company. Needham & Company LLC boosted their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. JMP Securities raised their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Craig Hallum boosted their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Barclays raised their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $40.88.

Alkami Technology Stock Up 1.9 %

ALKT stock opened at $38.67 on Friday. The stock has a market cap of $3.89 billion, a P/E ratio of -82.28 and a beta of 0.46. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a twelve month low of $22.62 and a twelve month high of $42.29. The company’s 50 day moving average is $38.02 and its two-hundred day moving average is $33.16.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the completion of the sale, the insider now directly owns 191,668 shares of the company’s stock, valued at approximately $7,676,303.40. This represents a 20.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 99,755 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $41.89, for a total transaction of $4,178,736.95. Following the transaction, the chief financial officer now owns 371,648 shares in the company, valued at approximately $15,568,334.72. This trade represents a 21.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 6,472,426 shares of company stock valued at $249,990,820 in the last ninety days. Insiders own 25.90% of the company’s stock.

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.