Riverbridge Partners LLC Sells 137,019 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Riverbridge Partners LLC decreased its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 6.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 1,890,192 shares of the company’s stock after selling 137,019 shares during the period. Riverbridge Partners LLC’s holdings in Alkami Technology were worth $69,332,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. nVerses Capital LLC grew its position in shares of Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the last quarter. Harbor Capital Advisors Inc. increased its position in Alkami Technology by 10.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after buying an additional 615 shares during the period. Advisors Asset Management Inc. boosted its position in shares of 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 period. Park Place Capital Corp acquired a new position in shares of Alkami Technology in the third quarter valued at about $28,000. Finally, Blue Trust Inc. increased its position 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. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $35.30 on Thursday. The company’s 50 day moving average price is $37.77 and its two-hundred day moving average price is $34.76. The firm has a market capitalization of $3.55 billion, a P/E ratio of -75.11 and a beta of 0.48. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 99,755 shares of the stock in a transaction on 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 sale, the chief financial officer now directly owns 371,648 shares in the company, valued at $15,568,334.72. This represents a 21.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock in a transaction dated Tuesday, November 12th. The stock was 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 $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 three months, insiders sold 6,517,380 shares of company stock worth $251,616,935. 38.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALKT has been the subject of a number of analyst reports. JMP Securities lifted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on 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 raised their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Craig Hallum upped their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, 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 report on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.