9,019 Shares in Alkami Technology, Inc. (NASDAQ:ALKT) Bought by MQS Management LLC

MQS Management LLC bought a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,019 shares of the company’s stock, valued at approximately $284,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALKT. Victory Capital Management Inc. bought a new stake in shares of Alkami Technology in the 3rd quarter valued at about $979,000. GSA Capital Partners LLP acquired a new position in Alkami Technology during the third quarter valued at approximately $203,000. Covestor Ltd increased its stake in Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after purchasing an additional 2,646 shares in the last quarter. Principal Financial Group Inc. acquired a new stake in Alkami Technology in the third quarter worth $875,000. Finally, Olympiad Research LP bought a new position in shares of Alkami Technology during the third quarter worth $429,000. Institutional investors own 54.97% of the company’s stock.

Insider Transactions at Alkami Technology

In related news, insider Stephen Bohanon sold 35,893 shares of the firm’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $33.60, for a total value of $1,206,004.80. Following the completion of the transaction, the insider now directly owns 403,786 shares of the company’s stock, valued at approximately $13,567,209.60. This trade represents a 8.16 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 5,239 shares of the company’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total transaction of $199,186.78. Following the sale, the insider now directly owns 248,585 shares in the company, valued at $9,451,201.70. This trade represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,112,491 shares of company stock worth $115,454,041 in the last three months. Insiders own 38.00% of the company’s stock.

Alkami Technology Stock Down 2.4 %

Alkami Technology stock opened at $36.90 on Friday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1-year low of $21.19 and a 1-year high of $41.36. The company has a fifty day simple moving average of $33.98 and a 200 day simple moving average of $31.00. The company has a market cap of $3.71 billion, a P/E ratio of -80.40 and a beta of 0.43.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. JMP Securities upped their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Barclays lifted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum increased their target price on Alkami Technology from $38.00 to $45.00 and gave the stock 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 report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $37.44.

Alkami Technology 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.