Quest Partners LLC Has $204,000 Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Quest Partners LLC cut its holdings in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 69.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,456 shares of the company’s stock after selling 14,456 shares during the quarter. Quest Partners LLC’s holdings in Alkami Technology were worth $204,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of ALKT. Park Place Capital Corp acquired a new stake in Alkami Technology during the 3rd quarter worth about $28,000. Blue Trust Inc. boosted its position in Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new stake in Alkami Technology during the 2nd quarter worth about $40,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology during the 2nd quarter worth about $85,000. Finally, Covestor Ltd boosted its position in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares during the period. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Alkami Technology Stock Down 1.0 %

Shares of ALKT stock opened at $39.28 on Thursday. The stock’s 50 day simple moving average is $35.52 and its 200 day simple moving average is $31.83. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a twelve month low of $21.19 and a twelve month high of $42.29. The company has a market capitalization of $3.95 billion, a price-to-earnings ratio of -83.57 and a beta of 0.43.

Wall Street Analyst Weigh In

ALKT has been the subject of a number of research reports. JMP Securities raised their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Lake Street Capital lifted their price target on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Craig Hallum lifted their price target on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the transaction, the director now directly owns 9,680,049 shares of the company’s stock, valued at $384,781,947.75. The trade was a 23.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The trade was a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 6,360,428 shares of company stock valued at $244,916,568. Corporate insiders own 25.90% of the company’s stock.

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.