Atria Investments Inc Buys New Position in Alkami Technology, Inc. $ALKT

Atria Investments Inc bought a new stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 11,055 shares of the company’s stock, valued at approximately $333,000.

A number of other institutional investors have also recently made changes to their positions in the stock. Blue Trust Inc. raised its position in shares of Alkami Technology by 27.6% during the 2nd quarter. Blue Trust Inc. now owns 1,852 shares of the company’s stock valued at $56,000 after buying an additional 401 shares in the last quarter. Covestor Ltd grew its position in Alkami Technology by 18.8% in the first quarter. Covestor Ltd now owns 3,252 shares of the company’s stock worth $85,000 after acquiring an additional 514 shares in the last quarter. Amundi increased its stake in Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares during the last quarter. Advisors Asset Management Inc. raised its position in Alkami Technology by 32.4% during the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after purchasing an additional 594 shares in the last quarter. Finally, CWM LLC raised its position in Alkami Technology by 176.2% during the second quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after purchasing an additional 601 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Insider Buying and Selling at Alkami Technology

In related news, CAO Prerna Sachdeva sold 2,967 shares of the business’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total transaction of $73,462.92. Following the transaction, the chief accounting officer owned 66,061 shares in the company, valued at $1,635,670.36. The trade was a 4.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO W Bryan Hill sold 20,366 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total transaction of $504,262.16. Following the completion of the sale, the chief financial officer owned 409,889 shares of the company’s stock, valued at $10,148,851.64. This trade represents a 4.73% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on ALKT. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, October 8th. The Goldman Sachs Group cut their target price on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Citizens Jmp reduced their price objective on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a research note on Friday, October 31st. Needham & Company LLC decreased their price target on Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research note on Friday, October 31st. Finally, JPMorgan Chase & Co. lowered their price objective on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $36.00.

Alkami Technology Price Performance

Shares of ALKT stock opened at $20.31 on Wednesday. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. Alkami Technology, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $42.29. The firm has a market cap of $2.13 billion, a P/E ratio of -47.23 and a beta of 0.55. The business’s 50 day moving average price is $23.61 and its 200-day moving average price is $26.02.

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.