Wealth Enhancement Trust Services Inc. Makes New $1.07 Million Investment in Alkami Technology, Inc. $ALKT

Wealth Enhancement Trust Services Inc. acquired a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, HoldingsChannel reports. The fund acquired 46,310 shares of the company’s stock, valued at approximately $1,068,000.

A number of other hedge funds have also made changes to their positions in ALKT. Mutual of America Capital Management LLC acquired a new position in shares of Alkami Technology during the 3rd quarter valued at $1,831,000. JANA Partners Management LP acquired a new position in shares of Alkami Technology during the 3rd quarter valued at $47,008,000. Chicago Capital LLC acquired a new position in shares of Alkami Technology during the 3rd quarter valued at $33,665,000. Algebris UK Ltd. acquired a new position in shares of Alkami Technology during the 3rd quarter valued at $12,728,000. Finally, Westfield Capital Management Co. LP lifted its holdings in shares of Alkami Technology by 160.0% during the 3rd quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after acquiring an additional 1,904,474 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $17.83 on Monday. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01. The company’s fifty day simple moving average is $16.68 and its 200-day simple moving average is $19.93. The stock has a market cap of $1.91 billion, a P/E ratio of -38.76 and a beta of 0.57. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.66.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. reduced their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Citizens Jmp reduced their target price on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC reduced their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Barclays reduced their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $26.67.

Insiders Place Their Bets

In related news, Director Atlantic L.P. General purchased 900,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was acquired at an average price of $18.41 per share, for a total transaction of $16,569,000.00. Following the completion of the purchase, the director owned 14,879,451 shares in the company, valued at approximately $273,930,692.91. This represents a 6.44% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph P. Payne purchased 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average price of $18.23 per share, with a total value of $100,265.00. Following the purchase, the director owned 26,628 shares of the company’s stock, valued at approximately $485,428.44. The trade was a 26.03% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders have purchased 3,351,515 shares of company stock valued at $59,829,413 and have sold 13,739 shares valued at $232,189. 17.10% of the stock is currently owned by corporate insiders.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.