JPMorgan Chase & Co. Has $27.67 Million Holdings in Alkami Technology, Inc. $ALKT

JPMorgan Chase & Co. decreased its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 14.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,113,807 shares of the company’s stock after selling 192,054 shares during the quarter. JPMorgan Chase & Co.’s holdings in Alkami Technology were worth $27,667,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of ALKT. Mutual of America Capital Management LLC bought a new position in shares of Alkami Technology during the third quarter worth approximately $1,831,000. JANA Partners Management LP bought a new stake in shares of Alkami Technology in the third quarter valued at approximately $47,008,000. Chicago Capital LLC bought a new stake in shares of Alkami Technology in the third quarter valued at approximately $33,665,000. Algebris UK Ltd. acquired a new stake in Alkami Technology during the third quarter worth approximately $12,728,000. Finally, Westfield Capital Management Co. LP grew its position in Alkami Technology by 160.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock worth $76,881,000 after buying an additional 1,904,474 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ALKT. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Citizens Jmp reduced their target price on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC decreased their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, February 26th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Finally, Barclays cut their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $26.67.

Insider Transactions at Alkami Technology

In related news, Director Atlantic Genpar (Bermu General purchased 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The shares were bought at an average cost of $18.33 per share, with a total value of $9,165,000.00. Following the acquisition, the director owned 15,379,451 shares of the company’s stock, valued at $281,905,336.83. This trade represents a 3.36% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Douglas A. Linebarger sold 5,518 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total transaction of $93,254.20. Following the transaction, the insider owned 216,233 shares of the company’s stock, valued at approximately $3,654,337.70. This represents a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have purchased 3,351,515 shares of company stock valued at $59,829,413 and have sold 13,739 shares valued at $232,189. 18.10% of the stock is owned by insiders.

Alkami Technology Price Performance

Shares of ALKT stock opened at $16.96 on Tuesday. Alkami Technology, Inc. has a twelve month low of $14.11 and a twelve month high of $31.66. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.01. The business has a fifty day simple moving average of $18.12 and a 200 day simple moving average of $21.14. The company has a market cap of $1.80 billion, a P/E ratio of -36.87 and a beta of 0.57.

Alkami Technology Profile

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.