Alkami Technology, Inc. $ALKT Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. boosted its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 195.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 404,110 shares of the company’s stock after purchasing an additional 267,174 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Alkami Technology were worth $10,038,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in ALKT. CWM LLC raised its stake in shares of Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after buying an additional 601 shares during the period. EverSource Wealth Advisors LLC raised its position in Alkami Technology by 398.3% during the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after acquiring an additional 916 shares during the period. First Horizon Corp purchased a new position in Alkami Technology during the third quarter valued at $30,000. Assetmark Inc. acquired a new stake in shares of Alkami Technology in the second quarter valued at about $44,000. Finally, AlphaQuest LLC increased its stake in shares of Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after purchasing an additional 544 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 8,179 shares of the company’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $166,360.86. Following the completion of the sale, the insider owned 221,751 shares of the company’s stock, valued at approximately $4,510,415.34. This represents a 3.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 18.10% of the company’s stock.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $16.80 on Thursday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. The stock’s fifty day moving average is $20.77 and its two-hundred day moving average is $22.17. The firm has a market capitalization of $1.76 billion, a P/E ratio of -39.07 and a beta of 0.53. Alkami Technology, Inc. has a fifty-two week low of $15.73 and a fifty-two week high of $33.53.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALKT. Zacks Research cut Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. The Goldman Sachs Group lowered their price target on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research note on Friday, October 31st. JPMorgan Chase & Co. reduced their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday. Barclays lowered their target price on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. Finally, Needham & Company LLC reduced their target price on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $32.29.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.