Alkami Technology, Inc. (NASDAQ:ALKT) Stock Position Reduced by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company decreased its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 8.6% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 862,806 shares of the company’s stock after selling 81,690 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Alkami Technology were worth $27,213,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the stock. Park Place Capital Corp purchased a new stake in shares of Alkami Technology during the third quarter worth $28,000. Advisors Asset Management Inc. increased its position in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology during the 2nd quarter valued at about $40,000. Finally, Perkins Coie Trust Co bought a new stake in shares of Alkami Technology in the 2nd quarter valued at approximately $85,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on ALKT shares. Needham & Company LLC raised their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JMP Securities raised their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Craig Hallum upped their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays raised their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology presently has an average rating of “Moderate Buy” and an average target price of $37.44.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $39.47 on Friday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $35.84 and a 200 day moving average price of $31.93. The company has a market cap of $3.97 billion, a price-to-earnings ratio of -83.98 and a beta of 0.43. Alkami Technology, Inc. has a twelve month low of $21.19 and a twelve month high of $42.29.

Insider Activity

In related news, insider Douglas A. Linebarger sold 5,239 shares of the business’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total transaction of $199,186.78. Following the transaction, the insider now directly owns 248,585 shares in the company, valued at $9,451,201.70. The trade was a 2.06 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the transaction, the director now directly owns 9,680,049 shares of the company’s stock, valued at approximately $384,781,947.75. This trade represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,360,428 shares of company stock valued at $244,916,568. 38.00% of the stock is owned by company insiders.

Alkami Technology 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.