Royce & Associates LP Lowers Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Royce & Associates LP lowered its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 51.4% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 157,102 shares of the company’s stock after selling 166,308 shares during the quarter. Royce & Associates LP’s holdings in Alkami Technology were worth $4,955,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in ALKT. Trust Point Inc. purchased a new position in Alkami Technology during the third quarter worth about $1,029,000. Oppenheimer Asset Management Inc. acquired a new position in Alkami Technology during the 3rd quarter worth approximately $1,860,000. Driehaus Capital Management LLC lifted its holdings in shares of Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the period. Millennium Management LLC boosted its stake 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 valued at $14,658,000 after buying an additional 284,977 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its holdings in Alkami Technology by 24.0% during the second quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock worth $6,024,000 after acquiring an additional 40,949 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on ALKT. The Goldman Sachs Group raised their target price on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC boosted their price objective 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. Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Lake Street Capital lifted their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Craig Hallum upped their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Stock Performance

Alkami Technology stock opened at $36.49 on Tuesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $41.36. The stock has a fifty day moving average of $34.36 and a two-hundred day moving average of $31.29. The company has a market capitalization of $3.67 billion, a price-to-earnings ratio of -77.64 and a beta of 0.43.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 5,239 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total transaction of $199,186.78. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Atlantic L.P. General sold 2,500,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $37.50, for a total value of $93,750,000.00. Following the completion of the transaction, the director now owns 13,055,049 shares of the company’s stock, valued at $489,564,337.50. This trade represents a 16.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,112,491 shares of company stock valued at $115,454,041 over the last quarter. Insiders own 38.00% of the company’s stock.

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.