Oppenheimer Asset Management Inc. acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 58,966 shares of the company's stock, valued at approximately $1,860,000. Oppenheimer Asset Management Inc. owned 0.06% of Alkami Technology at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of the stock. Trust Point Inc. bought a new position in Alkami Technology in the 3rd quarter valued at about $1,029,000. Driehaus Capital Management LLC increased its stake in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company's stock worth $31,080,000 after purchasing an additional 392,483 shares during the period. Millennium Management LLC lifted its holdings in Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company's stock worth $14,658,000 after purchasing an additional 284,977 shares during the last quarter. Hodges Capital Management Inc. boosted its stake in Alkami Technology by 24.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company's stock valued at $6,024,000 after purchasing an additional 40,949 shares during the period. Finally, Bank of New York Mellon Corp boosted its stake in Alkami Technology by 45.8% in the 2nd quarter. Bank of New York Mellon Corp now owns 173,294 shares of the company's stock valued at $4,935,000 after purchasing an additional 54,453 shares during the period. Institutional investors and hedge funds own 54.97% of the company's stock.
ALKT has been the topic of several recent research reports. The Goldman Sachs Group increased their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Needham & Company LLC raised their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. JMP Securities boosted their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a report on Tuesday, October 29th. Barclays raised their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a report on Thursday, October 31st. Finally, Craig Hallum boosted their price target on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $37.44.
Read Our Latest Report on ALKT
Shares of Alkami Technology stock opened at $35.93 on Friday. The company has a 50 day moving average of $34.22 and a 200-day moving average of $31.18. The company has a market cap of $3.61 billion, a PE ratio of -76.45 and a beta of 0.43. 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.
In other news, CEO Alex Shootman sold 37,758 shares of the business's stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the transaction, the chief executive officer now owns 1,056,207 shares of the company's stock, valued at approximately $31,422,158.25. The trade was a 3.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 55,046 shares of the company's stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $31.19, for a total value of $1,716,884.74. Following the sale, the chief financial officer now owns 471,403 shares of the company's stock, valued at approximately $14,703,059.57. This represents a 10.46 % 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 over the last three months. Corporate insiders own 38.00% of the company's stock.
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.
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