Scalar Gauge Management LLC Has $2.01 Million Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Scalar Gauge Management LLC trimmed its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 46.3% in the third quarter, Holdings Channel reports. The firm owned 63,822 shares of the company’s stock after selling 55,000 shares during the quarter. Alkami Technology comprises approximately 1.1% of Scalar Gauge Management LLC’s investment portfolio, making the stock its 21st biggest position. Scalar Gauge Management LLC’s holdings in Alkami Technology were worth $2,013,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in ALKT. Park Place Capital Corp bought a new position in shares of Alkami Technology in the third quarter valued at $28,000. Advisors Asset Management Inc. lifted its stake in Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after acquiring an additional 631 shares during the last quarter. Blue Trust Inc. lifted its stake in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Alkami Technology in the 2nd quarter valued at about $40,000. Finally, Perkins Coie Trust Co acquired a new position in shares of Alkami Technology during the 2nd quarter worth about $85,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Trading Up 0.5 %

ALKT stock opened at $39.47 on Friday. Alkami Technology, Inc. has a 52 week low of $21.19 and a 52 week high of $42.29. The company has a market capitalization of $3.97 billion, a PE ratio of -83.98 and a beta of 0.43. The company’s 50-day simple moving average is $35.84 and its 200 day simple moving average is $31.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Wall Street Analysts Forecast Growth

ALKT has been the subject of a number of research analyst reports. Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum lifted their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities increased their price target 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. The Goldman Sachs Group raised their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC upped their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 99,755 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the transaction, the chief financial officer now owns 371,648 shares of the company’s stock, valued at $15,568,334.72. The trade was a 21.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the sale, the director now owns 9,680,049 shares in the company, valued at $384,781,947.75. The trade was a 23.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,360,428 shares of company stock valued at $244,916,568 in the last quarter. Company insiders own 38.00% of the company’s stock.

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.