Oppenheimer Asset Management Inc. Acquires New Holdings in Alkami Technology, Inc. (NASDAQ:ALKT)

Oppenheimer Asset Management Inc. bought a new position in shares of Alkami Technology, Inc. (NASDAQ:ALKT) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 58,966 shares of the company’s stock, valued at approximately $1,860,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trust Point Inc. acquired a new position in shares of Alkami Technology during the third quarter worth $1,029,000. Driehaus Capital Management LLC raised its position in Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after purchasing an additional 392,483 shares during the last quarter. Millennium Management LLC lifted its holdings in Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after buying an additional 284,977 shares during the period. Hodges Capital Management Inc. grew its position in shares of Alkami Technology by 24.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock valued at $6,024,000 after buying an additional 40,949 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Alkami Technology by 45.8% in the second quarter. Bank of New York Mellon Corp now owns 173,294 shares of the company’s stock valued at $4,935,000 after buying an additional 54,453 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ALKT shares. Craig Hallum lifted their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Lake Street Capital upped their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JMP Securities lifted their target price 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. Barclays upped their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Needham & Company LLC lifted 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 equities research 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.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Stock Performance

Shares of ALKT opened at $35.93 on Friday. Alkami Technology, Inc. has a one year low of $21.19 and a one year high of $41.36. The company has a market cap of $3.61 billion, a PE ratio of -76.45 and a beta of 0.43. The stock has a 50-day moving average of $34.22 and a 200-day moving average of $31.18. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 5,239 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total value of $199,186.78. Following the transaction, the insider now directly owns 248,585 shares in the company, valued at $9,451,201.70. This trade represents a 2.06 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Atlantic L.P. General sold 2,500,000 shares of the business’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the sale, the director now owns 13,055,049 shares of the company’s stock, valued at $489,564,337.50. This trade represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 3,112,491 shares of company stock valued at $115,454,041. Company insiders own 38.00% of the company’s stock.

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.