MQS Management LLC Buys New Position in Alkami Technology, Inc. (NASDAQ:ALKT)

MQS Management LLC purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 9,019 shares of the company’s stock, valued at approximately $284,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Park Place Capital Corp acquired a new stake in Alkami Technology during the third quarter worth about $28,000. Blue Trust Inc. boosted its stake in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Alkami Technology during the second quarter worth $40,000. Perkins Coie Trust Co bought a new stake in Alkami Technology in the 2nd quarter valued at $85,000. Finally, Covestor Ltd raised its stake in shares of Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after buying an additional 2,646 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ALKT. Barclays lifted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC upped their price objective on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Lake Street Capital raised their target price on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities boosted their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Trading Down 2.4 %

ALKT opened at $36.90 on Friday. Alkami Technology, Inc. has a 1-year low of $21.19 and a 1-year high of $41.36. The stock has a market capitalization of $3.71 billion, a PE ratio of -80.40 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. The firm has a 50-day moving average price of $33.98 and a two-hundred day moving average price of $31.00.

Insider Activity at Alkami Technology

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the transaction, the chief executive officer now directly owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This trade represents a 3.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 stock was sold at an average price of $37.50, for a total value of $93,750,000.00. Following the sale, the director now owns 13,055,049 shares of the company’s stock, valued at approximately $489,564,337.50. The trade was a 16.07 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,112,491 shares of company stock valued at $115,454,041 over the last quarter. Corporate insiders own 38.00% of the company’s stock.

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.