KLP Kapitalforvaltning AS Purchases 4,300 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

KLP Kapitalforvaltning AS grew its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 39.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,200 shares of the company’s stock after buying an additional 4,300 shares during the period. KLP Kapitalforvaltning AS’s holdings in Alkami Technology were worth $399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Alliancebernstein L.P. boosted its stake in Alkami Technology by 5,747.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock worth $99,305,000 after acquiring an additional 2,661,027 shares in the last quarter. Whale Rock Capital Management LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth approximately $78,878,000. Champlain Investment Partners LLC purchased a new stake in shares of Alkami Technology in the 4th quarter worth approximately $57,772,000. Invesco Ltd. increased its position in Alkami Technology by 353.1% during the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after buying an additional 1,134,746 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its stake in shares of Alkami Technology by 278.2% in the fourth quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock worth $52,649,000 after acquiring an additional 1,055,828 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Trading Down 1.7%

NASDAQ:ALKT opened at $26.16 on Thursday. The company has a market cap of $2.70 billion, a PE ratio of -68.84 and a beta of 0.59. The company has a current ratio of 2.75, a quick ratio of 2.75 and a debt-to-equity ratio of 1.23. The company has a 50 day simple moving average of $28.86 and a two-hundred day simple moving average of $29.14. Alkami Technology, Inc. has a 12 month low of $21.70 and a 12 month high of $42.29.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 20,365 shares of the company’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $577,551.40. Following the completion of the sale, the chief financial officer owned 430,255 shares in the company, valued at approximately $12,202,031.80. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph P. Payne purchased 8,200 shares of the business’s stock in a transaction on Thursday, May 15th. The shares were purchased at an average price of $30.46 per share, with a total value of $249,772.00. Following the completion of the purchase, the director owned 21,128 shares in the company, valued at approximately $643,558.88. This trade represents a 63.43% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have sold a total of 27,690 shares of company stock worth $785,288 in the last ninety days. Insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ALKT shares. Needham & Company LLC lowered their price target on Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They issued an “overweight” rating and a $40.00 target price for the company. JMP Securities reiterated a “market outperform” rating and set a $46.00 price target on shares of Alkami Technology in a report on Thursday, May 1st. Barclays decreased their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a report on Monday, April 14th. Finally, Lake Street Capital cut their target price on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

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.