New York Life Investment Management LLC Sells 4,475 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

New York Life Investment Management LLC trimmed its stake in Alkami Technology, Inc. (NASDAQ:ALKTFree Report) by 13.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,079 shares of the company’s stock after selling 4,475 shares during the quarter. New York Life Investment Management LLC’s holdings in Alkami Technology were worth $512,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Long Path Partners Fund LP bought a new position in shares of Alkami Technology in the first quarter valued at $25,297,000. Vanguard Group Inc. lifted its stake in shares of Alkami Technology by 24.4% in the third quarter. Vanguard Group Inc. now owns 3,552,542 shares of the company’s stock valued at $53,466,000 after buying an additional 697,148 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Alkami Technology by 37.8% in the second quarter. ArrowMark Colorado Holdings LLC now owns 1,832,809 shares of the company’s stock valued at $30,040,000 after buying an additional 503,071 shares in the last quarter. BlackRock Inc. lifted its stake in shares of Alkami Technology by 25.9% in the third quarter. BlackRock Inc. now owns 2,303,355 shares of the company’s stock valued at $34,665,000 after buying an additional 473,926 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Alkami Technology by 16.0% in the second quarter. Franklin Resources Inc. now owns 1,828,606 shares of the company’s stock valued at $29,971,000 after buying an additional 251,757 shares in the last quarter. 52.74% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $19.00 to $21.00 and gave the company an “overweight” rating in a research report on Thursday, November 2nd. Needham & Company LLC raised their price target on shares of Alkami Technology from $24.00 to $30.00 and gave the company a “buy” rating in a research report on Friday, January 5th. KeyCorp raised their price target on shares of Alkami Technology from $21.00 to $26.00 and gave the company an “overweight” rating in a research report on Monday, January 8th. William Blair reissued an “outperform” rating on shares of Alkami Technology in a research report on Thursday, November 2nd. Finally, The Goldman Sachs Group lowered shares of Alkami Technology from a “buy” rating to a “neutral” rating and raised their price target for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd. Three research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and an average target price of $24.50.

Read Our Latest Stock Analysis on Alkami Technology

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 30,000 shares of Alkami Technology stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $23.26, for a total value of $697,800.00. Following the completion of the transaction, the chief financial officer now owns 357,524 shares in the company, valued at $8,316,008.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CFO W Bryan Hill sold 30,000 shares of Alkami Technology stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $23.26, for a total value of $697,800.00. Following the completion of the transaction, the chief financial officer now owns 357,524 shares in the company, valued at $8,316,008.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Linebarger sold 100,000 shares of Alkami Technology stock in a transaction dated Tuesday, December 5th. The stock was sold at an average price of $22.64, for a total transaction of $2,264,000.00. Following the completion of the transaction, the insider now owns 202,381 shares of the company’s stock, valued at approximately $4,581,905.84. The disclosure for this sale can be found here. Insiders sold 130,900 shares of company stock worth $2,982,419 over the last quarter. Corporate insiders own 38.00% of the company’s stock.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $25.31 on Friday. The firm has a market cap of $2.41 billion, a price-to-earnings ratio of -43.64 and a beta of 0.41. The company has a debt-to-equity ratio of 0.29, a quick ratio of 4.73 and a current ratio of 4.73. Alkami Technology, Inc. has a 52 week low of $10.93 and a 52 week high of $26.38. The firm’s 50-day simple moving average is $24.05 and its two-hundred day simple moving average is $20.25.

Alkami Technology Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Alkami Technology (NASDAQ:ALKT)

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