Olympiad Research LP Reduces Stock Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Olympiad Research LP lessened its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 44.0% in the 4th quarter, HoldingsChannel reports. The firm owned 7,610 shares of the company’s stock after selling 5,980 shares during the quarter. Olympiad Research LP’s holdings in Alkami Technology were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ALKT. Advisors Asset Management Inc. grew its position in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. grew 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 worth $38,000 after acquiring an additional 1,014 shares during the period. Covestor Ltd raised its position in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after acquiring an additional 2,646 shares in the last quarter. Icon Wealth Advisors LLC acquired a new position in Alkami Technology in the third quarter valued at approximately $155,000. Finally, Harbor Capital Advisors Inc. boosted its position 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 purchasing an additional 691 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Stock Down 2.1 %

Shares of NASDAQ ALKT opened at $31.16 on Monday. Alkami Technology, Inc. has a 12-month low of $22.65 and a 12-month high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.13 billion, a PE ratio of -66.30 and a beta of 0.47. The company has a 50-day moving average of $35.76 and a 200 day moving average of $35.11.

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 50,000 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the sale, the insider now directly owns 191,668 shares of the company’s stock, valued at approximately $7,676,303.40. This trade represents a 20.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 17,807 shares of the company’s stock in a transaction dated Tuesday, December 3rd. The shares were sold at an average price of $38.37, for a total transaction of $683,254.59. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $13,576,879.17. The trade was a 4.79 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 283,298 shares of company stock worth $10,600,144 in the last 90 days. Insiders own 38.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALKT. Needham & Company LLC lifted their target price 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. Craig Hallum lifted their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Barclays increased their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.