Alkami Technology, Inc. (NASDAQ:ALKT) is General Atlantic L.P.’s 5th Largest Position

General Atlantic L.P. cut its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 9.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,520,318 shares of the company’s stock after selling 1,666,667 shares during the quarter. Alkami Technology comprises about 13.9% of General Atlantic L.P.’s holdings, making the stock its 5th biggest holding. General Atlantic L.P. owned about 0.15% of Alkami Technology worth $489,511,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ALKT. Vanguard Group Inc. lifted its position in shares of Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after purchasing an additional 88,390 shares during the period. Acadian Asset Management LLC bought a new position in Alkami Technology in the first quarter worth about $140,000. Price T Rowe Associates Inc. MD lifted its holdings in Alkami Technology by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after buying an additional 1,460 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of Alkami Technology during the 1st quarter worth approximately $1,840,000. Finally, Silvercrest Asset Management Group LLC grew its holdings in shares of Alkami Technology by 4.5% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 330,230 shares of the company’s stock worth $8,114,000 after acquiring an additional 14,316 shares during the period. 54.97% of the stock is currently owned by institutional investors.

Insider Transactions at Alkami Technology

In other news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at $31,422,158.25. The trade was a 3.45 % 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 375,000 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total value of $14,062,500.00. Following the transaction, the director now directly owns 12,680,049 shares in the company, valued at approximately $475,501,837.50. The trade was a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 3,366,077 shares of company stock worth $125,011,332. Corporate insiders own 38.00% of the company’s stock.

Analysts Set New Price Targets

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

Alkami Technology Stock Performance

Shares of ALKT stock opened at $40.69 on Friday. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -86.57 and a beta of 0.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a one year low of $21.19 and a one year high of $41.36. The company’s 50-day moving average is $35.10 and its 200 day moving average is $31.59.

About Alkami Technology

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.