Lee Financial Co Makes New $2.29 Million Investment in Alkami Technology, Inc. (NASDAQ:ALKT)

Lee Financial Co bought a new position in Alkami Technology, Inc. (NASDAQ:ALKT) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 62,508 shares of the company’s stock, valued at approximately $2,293,000.

A number of other institutional investors have also modified their holdings of ALKT. JPMorgan Chase & Co. grew its stake in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock worth $11,971,000 after purchasing an additional 313,478 shares in the last quarter. Oppenheimer Asset Management Inc. bought a new position in Alkami Technology during the 3rd quarter worth approximately $1,860,000. FMR LLC grew its position in shares of Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after acquiring an additional 141,319 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after acquiring an additional 173,394 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC acquired a new stake in shares of Alkami Technology during the 3rd quarter valued at approximately $1,115,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analysts Set New Price Targets

ALKT has been the subject of a number of research reports. The Goldman Sachs Group lifted their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Craig Hallum lifted their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Barclays boosted 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. Needham & Company LLC raised 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. Finally, JMP Securities upped their target price on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the sale, the insider now directly owns 191,668 shares in the company, valued at $7,676,303.40. The trade was a 20.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the completion of the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at $17,116,642.93. The trade was a 17.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,636,639 shares of company stock valued at $143,586,172 in the last three months. 38.00% of the stock is currently owned by corporate insiders.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $32.90 on Friday. The firm’s 50 day moving average is $36.44 and its two-hundred day moving average is $35.09. The firm has a market capitalization of $3.31 billion, a P/E ratio of -70.00 and a beta of 0.47. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29.

About Alkami Technology

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.