DDD Partners LLC Makes New Investment in Alkami Technology, Inc. $ALKT

DDD Partners LLC acquired a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 76,212 shares of the company’s stock, valued at approximately $1,758,000.

A number of other hedge funds have also recently made changes to their positions in ALKT. First Horizon Corp bought a new position in shares of Alkami Technology in the third quarter worth about $30,000. EverSource Wealth Advisors LLC boosted its stake in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after acquiring an additional 916 shares during the period. AlphaQuest LLC boosted its stake in shares of Alkami Technology by 54.5% in the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after acquiring an additional 544 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after acquiring an additional 594 shares during the period. Finally, Farther Finance Advisors LLC boosted its stake in shares of Alkami Technology by 18,125.0% in the third quarter. Farther Finance Advisors LLC now owns 2,916 shares of the company’s stock worth $72,000 after acquiring an additional 2,900 shares during the period. Institutional investors own 54.97% of the company’s stock.

Insider Activity at Alkami Technology

In other news, Director Joseph P. Payne purchased 5,500 shares of the company’s stock in a transaction that occurred on Wednesday, March 11th. The stock was bought at an average cost of $18.23 per share, with a total value of $100,265.00. Following the completion of the purchase, the director owned 26,628 shares in the company, valued at approximately $485,428.44. This represents a 26.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Cassandra Hudson sold 6,869 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total transaction of $116,086.10. Following the transaction, the chief financial officer owned 286,757 shares of the company’s stock, valued at $4,846,193.30. This trade represents a 2.34% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders purchased 3,351,515 shares of company stock valued at $59,829,413 and sold 13,739 shares valued at $232,189. Corporate insiders own 18.10% of the company’s stock.

Alkami Technology Price Performance

Shares of Alkami Technology stock opened at $15.67 on Friday. The stock has a 50 day moving average of $16.88 and a 200 day moving average of $20.35. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.66. The firm has a market cap of $1.68 billion, a PE ratio of -34.07 and a beta of 0.57. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALKT. Barclays dropped their price objective on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Needham & Company LLC dropped their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Finally, Citizens Jmp dropped their target price on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Hold” and an average price target of $26.67.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.