Victory Capital Management Inc. Invests $979,000 in Alkami Technology, Inc. (NASDAQ:ALKT)

Victory Capital Management Inc. bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the 3rd quarter, HoldingsChannel reports. The fund bought 31,042 shares of the company’s stock, valued at approximately $979,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after buying an additional 88,390 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after buying an additional 181,194 shares during the period. Driehaus Capital Management LLC boosted its position in shares of Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after buying an additional 392,483 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Alkami Technology by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock worth $30,002,000 after buying an additional 120,468 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Alkami Technology by 124.1% in the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after buying an additional 284,977 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Price Performance

NASDAQ ALKT opened at $39.28 on Thursday. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $42.29. The stock’s 50-day moving average is $35.52 and its two-hundred day moving average is $31.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a market cap of $3.95 billion, a P/E ratio of -83.57 and a beta of 0.43.

Analyst Ratings Changes

A number of research firms recently issued reports on ALKT. Lake Street Capital lifted their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report 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 report on Friday, November 1st. JMP Securities lifted their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Finally, Craig Hallum lifted their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Insider Transactions at Alkami Technology

In other news, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the transaction, the insider now directly owns 388,181 shares in the company, valued at approximately $12,262,637.79. The trade was a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the transaction, the director now owns 9,680,049 shares in the company, valued at $384,781,947.75. The trade was a 23.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,360,428 shares of company stock worth $244,916,568. Company insiders own 25.90% 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.