Long Path Partners LP Sells 491,741 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Long Path Partners LP lessened its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 70.0% in the 3rd quarter, Holdings Channel reports. The firm owned 210,748 shares of the company’s stock after selling 491,741 shares during the period. Alkami Technology comprises about 2.2% of Long Path Partners LP’s portfolio, making the stock its 9th largest holding. Long Path Partners LP’s holdings in Alkami Technology were worth $6,647,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Algert Global LLC grew its position in Alkami Technology by 102.6% in the 3rd quarter. Algert Global LLC now owns 202,947 shares of the company’s stock valued at $6,401,000 after acquiring an additional 102,799 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Alkami Technology by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock valued at $16,854,000 after purchasing an additional 120,845 shares in the last quarter. Intech Investment Management LLC purchased a new stake in Alkami Technology during the 3rd quarter worth approximately $387,000. Advisors Asset Management Inc. lifted its holdings 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 buying an additional 631 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in Alkami Technology by 108.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock valued at $1,719,000 after buying an additional 28,395 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $40.69 on Friday. The stock’s 50-day moving average is $35.10 and its two-hundred day moving average is $31.59. 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 1 year low of $21.19 and a 1 year high of $41.36. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -86.57 and a beta of 0.43.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Barclays lifted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities raised their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Lake Street Capital increased their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Needham & Company LLC upped their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research 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. Based on data from MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and an average target price of $37.44.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 69,511 shares of the stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the completion of the sale, the chief financial officer now owns 489,340 shares in the company, valued at $16,314,595.60. This represents a 12.44 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the completion of the transaction, the insider now owns 388,181 shares in the company, valued at approximately $12,262,637.79. This represents a 3.86 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,366,077 shares of company stock valued at $125,011,332 in the last three months. 38.00% of the stock is currently owned by company insiders.

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.