Champlain Investment Partners LLC Buys 1,008,025 Shares of Alkami Technology, Inc. $ALKT

Champlain Investment Partners LLC raised its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 64.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,583,053 shares of the company’s stock after buying an additional 1,008,025 shares during the period. Champlain Investment Partners LLC owned 2.51% of Alkami Technology worth $67,805,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Caisse DE Depot ET Placement DU Quebec raised its holdings in Alkami Technology by 35.3% during the first quarter. Caisse DE Depot ET Placement DU Quebec now owns 220,000 shares of the company’s stock valued at $5,775,000 after buying an additional 57,358 shares in the last quarter. Corebridge Financial Inc. increased its stake in shares of Alkami Technology by 12.6% in the first quarter. Corebridge Financial Inc. now owns 29,714 shares of the company’s stock worth $780,000 after purchasing an additional 3,325 shares during the period. Long Path Partners LP increased its stake in shares of Alkami Technology by 304.4% in the first quarter. Long Path Partners LP now owns 685,532 shares of the company’s stock worth $17,995,000 after purchasing an additional 516,034 shares during the period. MetLife Investment Management LLC increased its stake in shares of Alkami Technology by 12.1% in the first quarter. MetLife Investment Management LLC now owns 35,628 shares of the company’s stock worth $935,000 after purchasing an additional 3,837 shares during the period. Finally, AlphaQuest LLC increased its stake in shares of Alkami Technology by 654.6% in the first quarter. AlphaQuest LLC now owns 8,384 shares of the company’s stock worth $220,000 after purchasing an additional 7,273 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Alkami Technology Stock Down 0.4%

ALKT stock opened at $24.78 on Wednesday. Alkami Technology, Inc. has a twelve month low of $19.94 and a twelve month high of $42.29. The company has a market cap of $2.58 billion, a PE ratio of -65.21 and a beta of 0.57. The business’s 50-day simple moving average is $26.40 and its 200 day simple moving average is $27.39. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17.

Analyst Ratings Changes

A number of research firms have recently commented on ALKT. Needham & Company LLC dropped their price objective on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. began coverage on Alkami Technology in a research note on Wednesday, June 18th. They issued an “overweight” rating and a $40.00 price objective on the stock. Lake Street Capital dropped their price objective on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, JMP Securities reiterated a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Six investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Alkami Technology has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 7,170 shares of Alkami Technology stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total transaction of $203,341.20. Following the sale, the insider directly owned 238,172 shares of the company’s stock, valued at approximately $6,754,557.92. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO W Bryan Hill sold 20,365 shares of Alkami Technology stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $577,551.40. Following the sale, the chief financial officer directly owned 430,255 shares in the company, valued at $12,202,031.80. The trade was a 4.52% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have purchased 1,396,162 shares of company stock valued at $29,692,440 and have sold 27,690 shares valued at $785,288. Company insiders own 18.10% of the company’s stock.

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.