Taylor Frigon Capital Management LLC Has $2.85 Million Holdings in Alkami Technology, Inc. $ALKT

Taylor Frigon Capital Management LLC raised its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 32.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 94,479 shares of the company’s stock after purchasing an additional 23,390 shares during the quarter. Alkami Technology comprises approximately 1.5% of Taylor Frigon Capital Management LLC’s investment portfolio, making the stock its 9th biggest holding. Taylor Frigon Capital Management LLC owned 0.09% of Alkami Technology worth $2,848,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Congress Asset Management Co. bought a new position in Alkami Technology in the 2nd quarter worth approximately $5,484,000. Riverbridge Partners LLC boosted its position in Alkami Technology by 24.4% during the 2nd quarter. Riverbridge Partners LLC now owns 2,098,790 shares of the company’s stock worth $63,258,000 after acquiring an additional 412,299 shares during the period. Harbour Capital Advisors LLC bought a new position in shares of Alkami Technology in the second quarter worth $364,000. Diversified Trust Co increased its holdings in shares of Alkami Technology by 27.0% during the second quarter. Diversified Trust Co now owns 34,017 shares of the company’s stock valued at $1,025,000 after purchasing an additional 7,226 shares during the period. Finally, Moody National Bank Trust Division bought a new stake in shares of Alkami Technology during the second quarter valued at about $217,000. Institutional investors own 54.97% of the company’s stock.

Insider Activity

In related news, CFO W Bryan Hill sold 20,366 shares of the stock in a transaction 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 completion of the transaction, the chief financial officer owned 409,889 shares in the company, valued at $10,148,851.64. This trade represents a 4.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Prerna Sachdeva sold 2,967 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the sale, the chief accounting officer owned 66,061 shares in the company, valued at approximately $1,635,670.36. The trade was a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders purchased a total of 1,396,162 shares of company stock valued at $29,692,440 over the last three months. Insiders own 18.10% of the company’s stock.

Alkami Technology Price Performance

NASDAQ ALKT opened at $25.68 on Monday. Alkami Technology, Inc. has a 1 year low of $19.94 and a 1 year high of $42.29. The business’s fifty day moving average is $24.61 and its two-hundred day moving average is $26.65. The stock has a market capitalization of $2.67 billion, a P/E ratio of -67.58 and a beta of 0.58. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. initiated coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They set an “overweight” rating and a $40.00 target price on the stock. Six research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $39.25.

About Alkami Technology

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.