Loomis Sayles & Co. L P Acquires New Shares in Alkami Technology, Inc. (NASDAQ:ALKT)

Loomis Sayles & Co. L P acquired a new stake in Alkami Technology, Inc. (NASDAQ:ALKT) during the 3rd quarter, Holdings Channel.com reports. The fund acquired 191,259 shares of the company’s stock, valued at approximately $6,032,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ALKT. Vanguard Group Inc. lifted its position in Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after acquiring an additional 88,390 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Alkami Technology by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after acquiring an additional 1,460 shares in the last quarter. Public Employees Retirement System of Ohio bought a new position in Alkami Technology in the 1st quarter valued at approximately $1,840,000. SG Americas Securities LLC bought a new position in Alkami Technology in the 2nd quarter valued at approximately $2,668,000. Finally, Perkins Coie Trust Co bought a new position in Alkami Technology in the 2nd quarter valued at approximately $85,000. 54.97% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This represents a 3.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 17,937 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $566,629.83. Following the completion of the sale, the chief financial officer now owns 471,403 shares of the company’s stock, valued at $14,891,620.77. The trade was a 3.67 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,360,428 shares of company stock valued at $244,916,568. Company insiders own 25.90% of the company’s stock.

Alkami Technology Stock Performance

ALKT opened at $39.28 on Thursday. The firm has a market cap of $3.95 billion, a P/E ratio of -83.57 and a beta of 0.43. Alkami Technology, Inc. has a 1-year low of $21.19 and a 1-year high of $42.29. The company has a 50 day simple moving average of $35.52 and a two-hundred day simple moving average of $31.83. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALKT. Lake Street Capital increased their price target on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Craig Hallum boosted their price target on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC increased their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, JMP Securities boosted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.44.

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.