Olympiad Research LP Reduces Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Olympiad Research LP cut its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 44.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,610 shares of the company’s stock after selling 5,980 shares during the period. Olympiad Research LP’s holdings in Alkami Technology were worth $279,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of ALKT. Franklin Resources Inc. raised its holdings in Alkami Technology by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after buying an additional 75,469 shares during the period. FMR LLC increased its position in Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after acquiring an additional 141,319 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after acquiring an additional 173,394 shares during the period. State Street Corp lifted its holdings in shares of Alkami Technology by 5.1% in the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company’s stock worth $34,328,000 after acquiring an additional 52,699 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Alkami Technology by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock worth $16,854,000 after purchasing an additional 120,845 shares during the period. 54.97% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Craig Hallum raised their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Needham & Company LLC upped their price target 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 lifted their price objective 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. Finally, JMP Securities upped 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. Two investment 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 currently has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 17,807 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total transaction of $683,254.59. Following the sale, the chief financial officer now owns 353,841 shares of the company’s stock, valued at $13,576,879.17. This trade represents a 4.79 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Stephen Bohanon sold 15,491 shares of the business’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total transaction of $594,389.67. Following the completion of the transaction, the insider now owns 358,204 shares of the company’s stock, valued at $13,744,287.48. This represents a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 283,298 shares of company stock valued at $10,600,144. 38.00% of the stock is currently owned by corporate insiders.

Alkami Technology Trading Down 2.1 %

NASDAQ ALKT opened at $31.16 on Monday. Alkami Technology, Inc. has a one year low of $22.65 and a one year high of $42.29. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The company has a market capitalization of $3.13 billion, a price-to-earnings ratio of -66.30 and a beta of 0.47. The company’s 50-day simple moving average is $35.76 and its two-hundred day simple moving average is $35.11.

Alkami Technology Company 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.