SG Americas Securities LLC Lowers Position in Alkami Technology, Inc. (NASDAQ:ALKT)

SG Americas Securities LLC cut its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 77.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,289 shares of the company’s stock after selling 14,546 shares during the period. SG Americas Securities LLC’s holdings in Alkami Technology were worth $157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of ALKT. nVerses Capital LLC grew its stake in Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after purchasing an additional 500 shares in the last quarter. Trust Point Inc. bought a new position in shares of Alkami Technology during the 3rd quarter worth approximately $1,029,000. 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 valued at $38,000 after purchasing an additional 1,014 shares during the last quarter. Taylor Frigon Capital Management LLC purchased a new stake in Alkami Technology in the third quarter valued at about $2,579,000. Finally, US Bancorp DE acquired a new stake in Alkami Technology in the 3rd quarter worth approximately $259,000. 54.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the company. The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC raised their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. boosted their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Barclays upped their price target 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, Craig Hallum lifted their target price 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $35.20 on Monday. 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 $22.65 and a 52 week high of $42.29. The stock’s fifty day moving average is $37.01 and its two-hundred day moving average is $35.08. The company has a market capitalization of $3.54 billion, a P/E ratio of -74.89 and a beta of 0.47.

Insider Transactions at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Douglas A. Linebarger sold 50,000 shares of the business’s stock in a transaction 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 sale, the insider now owns 191,668 shares in the company, valued at approximately $7,676,303.40. The trade was a 20.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,016,878 shares of company stock worth $157,847,859. Corporate insiders own 38.00% 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.