Penbrook Management LLC Cuts Position in Alkami Technology, Inc. (NASDAQ:ALKT)

Penbrook Management LLC lessened its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 11.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 44,435 shares of the company’s stock after selling 5,600 shares during the quarter. Alkami Technology comprises about 1.1% of Penbrook Management LLC’s portfolio, making the stock its 19th largest holding. Penbrook Management LLC’s holdings in Alkami Technology were worth $1,630,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALKT. Park Place Capital Corp purchased a new stake in shares of Alkami Technology during the third quarter valued at approximately $28,000. Advisors Asset Management Inc. grew its holdings in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Alkami Technology during the second quarter valued at approximately $40,000. Finally, Covestor Ltd grew its holdings in shares of Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after buying an additional 2,646 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Trading Up 0.9 %

Shares of Alkami Technology stock opened at $36.26 on Thursday. The company’s fifty day simple moving average is $37.64 and its 200-day simple moving average is $34.95. The stock has a market capitalization of $3.64 billion, a PE ratio of -77.15 and a beta of 0.48. Alkami Technology, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Insider Transactions at Alkami Technology

In related news, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total transaction of $199,186.78. Following the transaction, the insider now owns 248,585 shares in the company, valued at approximately $9,451,201.70. The trade was a 2.06 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Atlantic L.P. General sold 2,500,000 shares of Alkami Technology stock in a transaction on Friday, November 8th. The shares were sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the transaction, the director now owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. This trade represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,517,380 shares of company stock worth $251,616,935 in the last 90 days. 38.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ALKT shares. Needham & Company LLC increased their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. 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 report on Friday, November 1st. 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 report on Tuesday, October 29th. Barclays increased their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $43.00.

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.