First International Bank & Trust Lowers Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

First International Bank & Trust lessened its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 40.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 44,117 shares of the company’s stock after selling 30,000 shares during the quarter. Alkami Technology accounts for approximately 0.5% of First International Bank & Trust’s portfolio, making the stock its 21st largest holding. First International Bank & Trust’s holdings in Alkami Technology were worth $1,618,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. nVerses Capital LLC grew its holdings in shares of Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the last quarter. Advisors Asset Management Inc. increased its holdings in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares during the period. Harbor Capital Advisors Inc. lifted its stake in shares of Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after acquiring an additional 691 shares during the last quarter. Park Place Capital Corp purchased a new stake in Alkami Technology during the 3rd quarter valued at about $28,000. Finally, Blue Trust Inc. grew its position in 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 acquiring an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $35.92 on Friday. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The firm has a market capitalization of $3.61 billion, a P/E ratio of -76.43 and a beta of 0.48. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The business has a fifty day simple moving average of $38.28 and a two-hundred day simple moving average of $34.32.

Insider Buying and Selling

In other news, Director Atlantic Genpar (Bermu General sold 375,000 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the sale, the director now owns 12,680,049 shares in the company, valued at $475,501,837.50. This represents a 2.87 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Atlantic L.P. General sold 2,500,000 shares of the business’s stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the completion of the transaction, the director now owns 13,055,049 shares of the company’s stock, valued at approximately $489,564,337.50. The trade was a 16.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 6,417,380 shares of company stock worth $248,273,935 in the last three months. 38.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays upped their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities upped their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Needham & Company LLC lifted their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology has an average rating of “Moderate Buy” and an average price target of $43.00.

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.