Royce & Associates LP Lowers Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Royce & Associates LP lessened its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 51.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 157,102 shares of the company’s stock after selling 166,308 shares during the quarter. Royce & Associates LP owned approximately 0.16% of Alkami Technology worth $4,955,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of ALKT. Park Place Capital Corp purchased a new stake in Alkami Technology during the third quarter worth about $28,000. Blue Trust Inc. increased its stake in Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new stake in Alkami Technology during the 2nd quarter worth approximately $40,000. Perkins Coie Trust Co purchased a new position in Alkami Technology in the 2nd quarter valued at approximately $85,000. Finally, Covestor Ltd grew its stake in shares of Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Price Performance

Shares of ALKT opened at $36.49 on Tuesday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a 1-year low of $21.19 and a 1-year high of $41.36. The stock has a market cap of $3.67 billion, a PE ratio of -77.64 and a beta of 0.43. The firm has a fifty day moving average price of $34.36 and a 200 day moving average price of $31.29.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ALKT. Craig Hallum increased their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC upped their target price 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. Barclays lifted 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 note on Thursday, October 31st. Finally, Lake Street Capital increased their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and an average target price of $37.44.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total value of $199,186.78. Following the transaction, the insider now directly owns 248,585 shares of the company’s stock, valued at $9,451,201.70. The trade was a 2.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the stock in a transaction on Tuesday, November 12th. The stock was 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 of the company’s stock, valued at approximately $475,501,837.50. This represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,112,491 shares of company stock worth $115,454,041. Corporate insiders own 38.00% of the company’s stock.

Alkami Technology Company Profile

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.