Praesidium Investment Management Company LLC Takes $40.22 Million Position in Alkami Technology, Inc. $ALKT

Praesidium Investment Management Company LLC acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) in the first quarter, HoldingsChannel reports. The fund acquired 1,532,322 shares of the company’s stock, valued at approximately $40,223,000. Alkami Technology comprises 7.5% of Praesidium Investment Management Company LLC’s holdings, making the stock its 8th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Bosun Asset Management LLC boosted its holdings in shares of Alkami Technology by 1.4% during the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company’s stock worth $849,000 after buying an additional 313 shares during the period. Perkins Coie Trust Co boosted its holdings in shares of Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. Covestor Ltd boosted its holdings in shares of Alkami Technology by 18.8% during the 1st quarter. Covestor Ltd now owns 3,252 shares of the company’s stock worth $85,000 after buying an additional 514 shares during the period. Amalgamated Bank boosted its holdings in shares of Alkami Technology by 50.8% during the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock worth $55,000 after buying an additional 704 shares during the period. Finally, US Bancorp DE boosted its holdings in shares of Alkami Technology by 7.4% during the 1st quarter. US Bancorp DE now owns 12,229 shares of the company’s stock worth $321,000 after buying an additional 841 shares during the period. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $25.60 on Monday. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $2.66 billion, a P/E ratio of -67.37 and a beta of 0.58. Alkami Technology, Inc. has a 12-month low of $19.94 and a 12-month high of $42.29. The firm has a 50-day moving average price of $26.23 and a two-hundred day moving average price of $27.18.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. assumed coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They set an “overweight” rating and a $40.00 target price for the company. Six equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $39.25.

Insider Transactions at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 229,391 shares of the business’s stock in a transaction on Wednesday, August 13th. The stock was purchased at an average price of $22.44 per share, with a total value of $5,147,534.04. Following the acquisition, the director directly owned 12,033,436 shares of the company’s stock, valued at approximately $270,030,303.84. This trade represents a 1.94% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 1,396,162 shares of company stock valued at $29,692,440. Insiders own 18.10% 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.