GW&K Investment Management LLC boosted its stake in Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) by 27.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,168,864 shares of the company’s stock after acquiring an additional 253,705 shares during the period. GW&K Investment Management LLC’s holdings in Alkami Technology were worth $26,965,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. General Atlantic L.P. lifted its position in Alkami Technology by 24.3% in the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares during the last quarter. Vanguard Group Inc. lifted its position in Alkami Technology by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock valued at $194,121,000 after acquiring an additional 456,275 shares during the last quarter. Westfield Capital Management Co. LP lifted its position in Alkami Technology by 33.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after acquiring an additional 1,023,297 shares during the last quarter. ArrowMark Colorado Holdings LLC lifted its position in Alkami Technology by 56.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after acquiring an additional 1,394,617 shares during the last quarter. Finally, Alliancebernstein L.P. lifted its position in Alkami Technology by 13.3% in the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after acquiring an additional 430,632 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.
Alkami Technology Stock Down 2.0%
ALKT opened at $15.01 on Thursday. The business has a 50 day moving average price of $16.71 and a two-hundred day moving average price of $18.61. The company has a quick ratio of 2.30, a current ratio of 2.30 and a debt-to-equity ratio of 0.96. The company has a market cap of $1.61 billion, a PE ratio of -31.94 and a beta of 0.58. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.08.
Analyst Upgrades and Downgrades
A number of equities research analysts recently weighed in on the stock. Needham & Company LLC reduced their price target on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. lowered their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Citizens Jmp lowered their target price on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research report on Thursday, April 30th. Finally, Barclays lowered 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 research report on Thursday, February 26th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $22.80.
Read Our Latest Report on Alkami Technology
Insider Buying and Selling
In related news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of Alkami Technology stock in a transaction on Thursday, May 14th. The stock was purchased at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the purchase, the director directly owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. The trade was a 3.60% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders purchased 4,041,543 shares of company stock worth $67,594,674. 17.10% of the stock is owned by corporate insiders.
Alkami Technology 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.
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