Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by Long Path Partners LP

Long Path Partners LP cut its position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 70.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 210,748 shares of the company’s stock after selling 491,741 shares during the period. Alkami Technology accounts for 2.2% of Long Path Partners LP’s holdings, making the stock its 9th biggest position. Long Path Partners LP owned about 0.21% of Alkami Technology worth $6,647,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALKT. nVerses Capital LLC increased its position in shares of Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after buying an additional 500 shares in the last quarter. Advisors Asset Management Inc. increased its holdings 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 acquiring an additional 631 shares in the last quarter. Harbor Capital Advisors Inc. increased its holdings in Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after acquiring an additional 691 shares in the last quarter. Park Place Capital Corp acquired a new position in Alkami Technology during the third quarter worth $28,000. Finally, Blue Trust Inc. lifted its holdings in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $40.69 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The stock’s fifty day moving average is $35.10 and its two-hundred day moving average is $31.59. The firm has a market capitalization of $4.09 billion, a P/E ratio of -86.57 and a beta of 0.43. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $41.36.

Analyst Ratings Changes

ALKT has been the subject of a number of research reports. Needham & Company LLC boosted their target price 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. 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. The Goldman Sachs Group raised their target price on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Lake Street Capital boosted their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Finally, JMP Securities increased their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Insider Activity

In other Alkami Technology news, insider Douglas A. Linebarger sold 5,239 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was 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 owns 248,585 shares of the company’s stock, valued at $9,451,201.70. This trade represents a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the completion of the sale, the chief financial officer now owns 489,340 shares in the company, valued at $16,314,595.60. This represents a 12.44 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,366,077 shares of company stock valued at $125,011,332. 38.00% of the stock is currently owned by 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.