Massachusetts Financial Services Co. MA Has $41.45 Million Stock Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Massachusetts Financial Services Co. MA lessened its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 16.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,314,112 shares of the company’s stock after selling 256,067 shares during the quarter. Massachusetts Financial Services Co. MA owned 1.31% of Alkami Technology worth $41,447,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ALKT. Trust Point Inc. acquired a new position in Alkami Technology during the 3rd quarter worth approximately $1,029,000. Oppenheimer Asset Management Inc. acquired a new position in Alkami Technology during the third quarter worth $1,860,000. Fifth Third Wealth Advisors LLC bought a new position in Alkami Technology in the third quarter valued at $1,115,000. Driehaus Capital Management LLC increased its stake in Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the last quarter. Finally, Millennium Management LLC lifted its position in Alkami Technology by 124.1% during the 2nd 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 in the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Price Performance

Shares of NASDAQ ALKT opened at $40.69 on Monday. The business has a fifty day moving average price of $35.10 and a two-hundred day moving average price of $31.62. The stock has a market capitalization of $4.09 billion, a PE ratio of -86.57 and a beta of 0.43. 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, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $41.36.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALKT. Lake Street Capital raised their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC raised their price objective on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Craig Hallum lifted their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JMP Securities increased their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Finally, Barclays lifted their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and a consensus target price of $37.44.

Insider Activity at Alkami Technology

In related news, insider Douglas A. Linebarger sold 43,336 shares of Alkami Technology stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $38.50, for a total value of $1,668,436.00. Following the transaction, the insider now directly owns 248,585 shares of the company’s stock, valued at $9,570,522.50. This trade represents a 14.85 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 110,250 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $38.62, for a total value of $4,257,855.00. Following the sale, the chief financial officer now owns 471,403 shares of the company’s stock, valued at $18,205,583.86. The trade was a 18.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,366,077 shares of company stock valued at $125,011,332 over the last quarter. 38.00% of the stock is owned by corporate insiders.

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.