Quantinno Capital Management LP Acquires 248,630 Shares of Alkami Technology, Inc. $ALKT

Quantinno Capital Management LP boosted its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 2,514.2% during the first quarter, Holdings Channel.com reports. The firm owned 258,519 shares of the company’s stock after acquiring an additional 248,630 shares during the quarter. Quantinno Capital Management LP’s holdings in Alkami Technology were worth $4,051,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Irenic Capital Management LP purchased a new stake in shares of Alkami Technology in the 4th quarter worth approximately $48,596,000. Nicholas Company Inc. boosted its stake in Alkami Technology by 11.2% in the 4th quarter. Nicholas Company Inc. now owns 312,297 shares of the company’s stock worth $7,205,000 after purchasing an additional 31,410 shares in the last quarter. Praesidium Investment Management Company LLC lifted its stake in shares of Alkami Technology by 13.4% in the fourth quarter. Praesidium Investment Management Company LLC now owns 2,287,096 shares of the company’s stock worth $52,763,000 after buying an additional 269,524 shares in the last quarter. Chicago Capital LLC grew its holdings in shares of Alkami Technology by 25.5% during the fourth quarter. Chicago Capital LLC now owns 1,701,532 shares of the company’s stock valued at $39,254,000 after buying an additional 346,245 shares during the last quarter. Finally, Algebris UK Ltd. increased its position in shares of Alkami Technology by 140.6% during the fourth quarter. Algebris UK Ltd. now owns 1,233,546 shares of the company’s stock valued at $28,471,000 after acquiring an additional 720,769 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ALKT. Citizens Jmp decreased their price target on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating for the company in a research note on Thursday, April 30th. Weiss Ratings restated a “sell (e+)” rating on shares of Alkami Technology in a research report on Friday, June 5th. Finally, JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating for the company in a research report on Monday, June 22nd. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Alkami Technology has an average rating of “Hold” and a consensus target price of $22.20.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 750,000 shares of the company’s stock in a transaction dated Tuesday, May 12th. The shares were acquired at an average price of $16.87 per share, for a total transaction of $12,652,500.00. Following the purchase, the director directly owned 18,195,994 shares of the company’s stock, valued at $306,966,418.78. The trade was a 4.30% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders have purchased 1,975,000 shares of company stock valued at $32,929,750 in the last 90 days. 17.10% of the stock is currently owned by company insiders.

Alkami Technology Trading Up 0.2%

Alkami Technology stock opened at $19.73 on Friday. The business has a 50-day simple moving average of $17.13 and a two-hundred day simple moving average of $17.21. The company has a market cap of $2.11 billion, a P/E ratio of -46.98 and a beta of 0.58. Alkami Technology, Inc. has a 52-week low of $13.98 and a 52-week high of $26.89. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.98.

Alkami Technology Company 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.