Renaissance Group LLC Buys 130,319 Shares of Alkami Technology, Inc. $ALKT

Renaissance Group LLC lifted its position in Alkami Technology, Inc. (NASDAQ:ALKT) by 66.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 327,582 shares of the company’s stock after acquiring an additional 130,319 shares during the period. Renaissance Group LLC owned approximately 0.31% of Alkami Technology worth $8,137,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Alliancebernstein L.P. increased its stake in Alkami Technology by 13.4% in the second quarter. Alliancebernstein L.P. now owns 3,249,114 shares of the company’s stock valued at $97,928,000 after purchasing an additional 383,691 shares in the last quarter. Champlain Investment Partners LLC grew its holdings in shares of Alkami Technology by 18.6% in the 2nd quarter. Champlain Investment Partners LLC now owns 3,064,695 shares of the company’s stock valued at $92,370,000 after buying an additional 481,642 shares during the period. Riverbridge Partners LLC increased its position in shares of Alkami Technology by 7.2% in the 3rd quarter. Riverbridge Partners LLC now owns 2,250,685 shares of the company’s stock valued at $55,907,000 after buying an additional 151,895 shares in the last quarter. Ameriprise Financial Inc. raised its stake in Alkami Technology by 3.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,012,157 shares of the company’s stock worth $60,646,000 after buying an additional 60,094 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in Alkami Technology by 7.3% during the second quarter. Geode Capital Management LLC now owns 1,674,405 shares of the company’s stock worth $50,473,000 after acquiring an additional 113,524 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of the business’s stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the sale, the insider directly owned 221,751 shares of the company’s stock, valued at $4,510,415.34. The trade was a 3.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 18.10% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on ALKT shares. Citizens Jmp restated a “market outperform” rating and issued a $40.00 price target on shares of Alkami Technology in a report on Thursday, January 29th. Barclays decreased their price objective on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a research report on Friday, October 31st. Zacks Research downgraded shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a report on Tuesday, November 4th. Needham & Company LLC reduced their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. Finally, The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research report on Friday, October 31st. Six equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $36.00.

Alkami Technology Price Performance

NASDAQ ALKT opened at $17.43 on Friday. The firm’s 50 day moving average is $21.52 and its 200-day moving average is $22.73. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08. The company has a market capitalization of $1.83 billion, a PE ratio of -40.53 and a beta of 0.53. Alkami Technology, Inc. has a 12-month low of $16.23 and a 12-month high of $36.35.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.