Diversified Trust Co Purchases New Shares in Alkami Technology, Inc. (NASDAQ:ALKT)

Diversified Trust Co acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,216 shares of the company’s stock, valued at approximately $595,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its position in shares of Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock worth $11,971,000 after purchasing an additional 313,478 shares during the last quarter. Principal Financial Group Inc. acquired a new position in shares of Alkami Technology during the third quarter valued at approximately $875,000. Franklin Resources Inc. lifted its position in shares of Alkami Technology by 4.4% in the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after acquiring an additional 75,469 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after acquiring an additional 173,394 shares during the last quarter. Finally, Bullseye Asset Management LLC increased its position in shares of Alkami Technology by 6.2% during the third quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock worth $2,707,000 after purchasing an additional 5,000 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Price Performance

ALKT stock opened at $34.15 on Friday. Alkami Technology, Inc. has a 52-week low of $22.65 and a 52-week high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.43 billion, a price-to-earnings ratio of -72.66 and a beta of 0.48. The business has a fifty day moving average of $38.21 and a two-hundred day moving average of $34.38.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ALKT shares. JMP Securities lifted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Craig Hallum upped their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC raised 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 boosted their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction that occurred 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 completion of the sale, the insider now owns 248,585 shares in the company, valued at approximately $9,451,201.70. This trade represents a 2.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO W Bryan Hill sold 100,000 shares of the company’s 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 transaction, the chief financial officer now owns 471,403 shares in the company, valued at $17,116,642.93. This trade represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,417,380 shares of company stock valued at $248,273,935. 38.00% of the stock is currently owned by insiders.

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.