Lee Financial Co Acquires New Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Lee Financial Co bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 62,508 shares of the company’s stock, valued at approximately $2,293,000. Lee Financial Co owned 0.06% of Alkami Technology as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its holdings in shares of Alkami Technology by 474.5% during the third 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. Oppenheimer Asset Management Inc. acquired a new stake in Alkami Technology in the 3rd quarter worth about $1,860,000. FMR LLC grew its holdings in Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after buying an additional 141,319 shares during the period. Geode Capital Management LLC grew its holdings in Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after buying an additional 173,394 shares during the period. Finally, Fifth Third Wealth Advisors LLC acquired a new position in shares of Alkami Technology during the 3rd quarter valued at about $1,115,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Trading Up 0.3 %

NASDAQ:ALKT opened at $32.90 on Friday. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The business’s 50-day moving average is $36.44 and its two-hundred day moving average is $35.09. 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 capitalization of $3.31 billion, a PE ratio of -70.00 and a beta of 0.47.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 43,336 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $38.50, for a total transaction of $1,668,436.00. Following the completion of the sale, the insider now directly owns 248,585 shares of the company’s stock, valued at approximately $9,570,522.50. This trade represents a 14.85 % 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 dated Monday, November 18th. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the completion of the transaction, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $17,116,642.93. The trade was 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 have sold 3,636,639 shares of company stock worth $143,586,172. 38.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Craig Hallum lifted their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Barclays lifted their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC upped their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.