Riverbridge Partners LLC Sells 137,019 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Riverbridge Partners LLC trimmed its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 6.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,890,192 shares of the company’s stock after selling 137,019 shares during the quarter. Riverbridge Partners LLC owned 1.88% of Alkami Technology worth $69,332,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the stock. Park Place Capital Corp bought a new stake in Alkami Technology in the third quarter valued at $28,000. Advisors Asset Management Inc. boosted its stake in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 507.0% in 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 during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology during the 2nd quarter worth about $40,000. Finally, Covestor Ltd lifted its holdings in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after purchasing an additional 2,646 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Stock Down 1.3 %

Alkami Technology stock opened at $35.30 on Thursday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. The company has a fifty day simple moving average of $37.77 and a 200 day simple moving average of $34.76. The company has a market cap of $3.55 billion, a P/E ratio of -75.11 and a beta of 0.48.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. JMP Securities raised their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Barclays raised their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum boosted their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC raised their target price on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $43.00.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at $11,828,904.63. This trade represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Douglas A. Linebarger sold 5,239 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total transaction of $199,186.78. Following the completion of the sale, the insider now directly owns 248,585 shares in the company, valued at approximately $9,451,201.70. The trade was a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,517,380 shares of company stock worth $251,616,935 in the last three months. Insiders own 38.00% of the company’s stock.

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.