Sompo Asset Management Co. Ltd. Sells 1,970 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Sompo Asset Management Co. Ltd. trimmed its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 18.0% during the third quarter, HoldingsChannel.com reports. The fund owned 8,950 shares of the company’s stock after selling 1,970 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Alkami Technology were worth $282,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Trust Point Inc. acquired a new position in Alkami Technology in the third quarter valued at $1,029,000. Oppenheimer Asset Management Inc. bought a new stake in Alkami Technology in the third quarter valued at $1,860,000. Fifth Third Wealth Advisors LLC bought a new stake 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 second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after purchasing an additional 392,483 shares in the last quarter. Finally, Millennium Management LLC increased its stake in Alkami Technology by 124.1% in the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after purchasing an additional 284,977 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Trading Up 5.0 %

Shares of ALKT opened at $40.69 on Monday. Alkami Technology, Inc. has a twelve month low of $21.19 and a twelve month high of $41.36. The company has a market cap of $4.09 billion, a P/E ratio of -86.57 and a beta of 0.43. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company’s fifty day simple moving average is $35.10 and its 200-day simple moving average is $31.62.

Analyst Ratings Changes

A number of research firms recently weighed in on ALKT. Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC upped their target price 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. Lake Street Capital increased their price objective 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. The Goldman Sachs Group increased their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, JMP Securities increased their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.44.

Insiders Place Their Bets

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the completion of the transaction, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. This trade represents a 3.45 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the transaction, the chief financial officer now directly owns 489,340 shares of the company’s stock, valued at approximately $16,314,595.60. This trade represents a 12.44 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,366,077 shares of company stock worth $125,011,332 in the last three months. Corporate insiders own 38.00% of the company’s stock.

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.