First International Bank & Trust Reduces Position in Alkami Technology, Inc. (NASDAQ:ALKT)

First International Bank & Trust trimmed its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 40.5% in the 4th quarter, HoldingsChannel reports. The firm owned 44,117 shares of the company’s stock after selling 30,000 shares during the period. Alkami Technology makes up 0.5% of First International Bank & Trust’s portfolio, making the stock its 21st largest holding. First International Bank & Trust’s holdings in Alkami Technology were worth $1,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of ALKT. nVerses Capital LLC increased its position in Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after buying an additional 500 shares in the last quarter. Advisors Asset Management Inc. lifted its holdings in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares in the last quarter. Harbor Capital Advisors Inc. boosted its position in shares of Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after purchasing an additional 691 shares during the period. Park Place Capital Corp purchased a new position in shares of Alkami Technology during the 3rd quarter valued at $28,000. Finally, Blue Trust Inc. boosted its holdings in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 50,000 shares of the stock in a transaction that occurred on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the sale, the insider now directly owns 191,668 shares in the company, valued at approximately $7,676,303.40. This represents a 20.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $36.31, for a total value of $3,631,000.00. Following the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at $17,116,642.93. This represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,417,380 shares of company stock worth $248,273,935. 38.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Craig Hallum raised their price target on 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 price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Needham & Company LLC boosted their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays raised their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, JMP Securities boosted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Alkami Technology Stock Up 1.6 %

Shares of NASDAQ:ALKT opened at $35.92 on Friday. 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 company has a 50-day moving average price of $38.28 and a 200 day moving average price of $34.32. The company has a market cap of $3.61 billion, a price-to-earnings ratio of -76.43 and a beta of 0.48.

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.