Alkami Technology (NASDAQ:ALKT) Given New $45.00 Price Target at JPMorgan Chase & Co.

Alkami Technology (NASDAQ:ALKT) had its price target upped by investment analysts at JPMorgan Chase & Co. from $42.00 to $45.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 15.74% from the company’s previous close.

ALKT has been the topic of several other reports. Craig Hallum upped their price target 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 Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. JMP Securities raised their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Needham & Company LLC upped their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and a consensus price target of $40.88.

Alkami Technology Trading Down 3.8 %

NASDAQ ALKT traded down $1.52 on Monday, hitting $38.88. 409,095 shares of the stock were exchanged, compared to its average volume of 535,098. The company’s 50-day moving average price is $36.82 and its two-hundred day moving average price is $32.52. 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 has a 52-week low of $22.33 and a 52-week high of $42.29. The company has a market capitalization of $3.91 billion, a price-to-earnings ratio of -82.72 and a beta of 0.46.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the transaction, the director now owns 9,680,049 shares in the company, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Atlantic L.P. General sold 2,500,000 shares of Alkami Technology stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. This represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,322,426 shares of company stock valued at $244,011,320. Insiders own 25.90% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. Driehaus Capital Management LLC lifted its position in shares of 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 shares of Alkami Technology by 124.1% during the second 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 last quarter. Castleark Management LLC bought a new stake in shares of Alkami Technology in the third quarter valued at approximately $6,050,000. Loomis Sayles & Co. L P acquired a new stake in shares of Alkami Technology in the third quarter worth $6,032,000. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after acquiring an additional 181,194 shares during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

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.