Nicholas Company Inc. Invests $5.84 Million in Alkami Technology, Inc. $ALKT

Nicholas Company Inc. purchased a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the second quarter, HoldingsChannel reports. The firm purchased 193,750 shares of the company’s stock, valued at approximately $5,840,000.

Other hedge funds have also modified their holdings of the company. CWM LLC grew its holdings in shares of Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after purchasing an additional 601 shares during the period. Assetmark Inc. purchased a new position in shares of Alkami Technology during the 2nd quarter worth $44,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of Alkami Technology during the 2nd quarter worth $49,000. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 27.6% during the 2nd quarter. Blue Trust Inc. now owns 1,852 shares of the company’s stock worth $56,000 after purchasing an additional 401 shares during the period. Finally, Amalgamated Bank grew 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 purchasing an additional 704 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ALKT shares. JPMorgan Chase & Co. lowered their price target on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, October 8th. The Goldman Sachs Group restated a “neutral” rating and set a $26.00 target price on shares of Alkami Technology in a report on Friday. Barclays lowered their target price on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday. Finally, Citizens Jmp decreased their price objective on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday. Six analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General bought 229,391 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the purchase, the director directly owned 12,033,436 shares in the company, valued at $270,030,303.84. This trade represents a 1.94% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 20,366 shares of the business’s stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $504,262.16. Following the sale, the chief financial officer owned 409,889 shares of the company’s stock, valued at approximately $10,148,851.64. The trade was a 4.73% decrease in their position. The SEC filing for this sale provides additional information. Insiders acquired a total of 1,396,162 shares of company stock worth $29,692,440 over the last 90 days. 18.10% of the stock is owned by insiders.

Alkami Technology Price Performance

ALKT stock opened at $20.29 on Friday. The business has a 50 day moving average price of $24.39 and a 200 day moving average price of $26.30. The stock has a market cap of $2.11 billion, a price-to-earnings ratio of -47.19 and a beta of 0.57. Alkami Technology, Inc. has a fifty-two week low of $19.28 and a fifty-two week high of $42.29. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17.

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.