Brown Advisory Inc. reduced its stake in Alkami Technology, Inc. (NASDAQ:ALKT – Free Report) by 33.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 289,941 shares of the company’s stock after selling 147,648 shares during the quarter. Brown Advisory Inc. owned about 0.31% of Alkami Technology worth $3,671,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Long Path Partners LP increased its position in Alkami Technology by 9.5% during the 1st quarter. Long Path Partners LP now owns 2,614,735 shares of the company’s stock worth $33,103,000 after buying an additional 227,158 shares during the period. MQS Management LLC raised its stake in Alkami Technology by 44.0% in the 1st quarter. MQS Management LLC now owns 16,830 shares of the company’s stock worth $213,000 after purchasing an additional 5,145 shares in the last quarter. Premier Fund Managers Ltd bought a new stake in Alkami Technology in the 1st quarter valued at about $663,000. Barclays PLC grew its position in shares of Alkami Technology by 88.4% during the 1st quarter. Barclays PLC now owns 18,344 shares of the company’s stock worth $232,000 after purchasing an additional 8,606 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Alkami Technology by 7.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 16,191 shares of the company’s stock worth $205,000 after purchasing an additional 1,142 shares during the period. 52.13% of the stock is currently owned by institutional investors and hedge funds.
Alkami Technology Price Performance
ALKT stock opened at $15.21 on Monday. Alkami Technology, Inc. has a 1 year low of $10.70 and a 1 year high of $17.72. The company has a debt-to-equity ratio of 0.29, a current ratio of 5.44 and a quick ratio of 5.44. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of -23.77 and a beta of 0.16. The company has a 50 day simple moving average of $16.08 and a 200 day simple moving average of $14.65.
Insiders Place Their Bets
Analyst Upgrades and Downgrades
A number of brokerages recently issued reports on ALKT. Needham & Company LLC increased their price target on Alkami Technology from $20.00 to $21.00 and gave the stock a “buy” rating in a research report on Thursday, August 3rd. Citigroup raised their price target on Alkami Technology from $19.00 to $20.00 and gave the stock a “buy” rating in a research report on Thursday. Barclays upped their price objective on shares of Alkami Technology from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. Lake Street Capital started coverage on shares of Alkami Technology in a report on Tuesday, June 27th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, The Goldman Sachs Group started coverage on shares of Alkami Technology in a report on Wednesday, July 12th. They set a “buy” rating and a $21.00 price target for the company. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $19.89.
Check Out Our Latest Stock Report on Alkami Technology
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.
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