Alkami Technology, Inc. (NASDAQ:ALKT) Shares Bought by Geode Capital Management LLC

Geode Capital Management LLC raised its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 16.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,231,987 shares of the company’s stock after purchasing an additional 173,394 shares during the quarter. Geode Capital Management LLC owned 1.23% of Alkami Technology worth $38,865,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Park Place Capital Corp purchased a new position in Alkami Technology in the third quarter valued at approximately $28,000. Advisors Asset Management Inc. raised its stake in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after acquiring an additional 631 shares during the period. Blue Trust Inc. raised its stake in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Alkami Technology during the 2nd quarter valued at $40,000. Finally, Covestor Ltd boosted its position in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $36.31, for a total value 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 approximately $17,116,642.93. This represents a 17.50 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the sale, the director now owns 12,680,049 shares in the company, valued at approximately $475,501,837.50. This represents a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,417,380 shares of company stock worth $248,273,935. Company insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $39.63 on Wednesday. The company has a market cap of $3.98 billion, a P/E ratio of -84.32 and a beta of 0.46. The business has a 50 day moving average of $38.22 and a two-hundred day moving average of $33.41. 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 52 week low of $22.62 and a 52 week high of $42.29.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ALKT. Needham & Company LLC boosted their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities boosted their price target 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. JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays boosted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Two 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.com, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus price target of $40.88.

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.