Alkami Technology, Inc. $ALKT Shares Sold by Royal Bank of Canada

Royal Bank of Canada cut its holdings in Alkami Technology, Inc. (NASDAQ:ALKT) by 20.1% in the first quarter, Holdings Channel reports. The institutional investor owned 841,626 shares of the company’s stock after selling 211,273 shares during the quarter. Royal Bank of Canada’s holdings in Alkami Technology were worth $13,190,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC lifted its position in shares of Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after buying an additional 916 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock worth $34,000 after acquiring an additional 692 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in Alkami Technology in the 4th quarter worth $37,000. Summit Securities Group LLC raised its position in Alkami Technology by 84.2% during the first quarter. Summit Securities Group LLC now owns 1,842 shares of the company’s stock worth $29,000 after acquiring an additional 842 shares during the period. Finally, CWM LLC raised its position in Alkami Technology by 97.6% during the fourth quarter. CWM LLC now owns 1,942 shares of the company’s stock worth $45,000 after acquiring an additional 959 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Up 0.2%

Shares of ALKT opened at $19.73 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. Alkami Technology, Inc. has a one year low of $13.98 and a one year high of $26.89. The stock has a market capitalization of $2.11 billion, a price-to-earnings ratio of -46.98 and a beta of 0.58. The stock has a 50 day moving average price of $17.13 and a 200 day moving average price of $17.21.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALKT shares. Citizens Jmp decreased their price objective on shares of Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a report on Thursday, April 30th. JPMorgan Chase & Co. reduced their price target 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. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company presently 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 bought 750,000 shares of the stock in a transaction on Tuesday, May 12th. The shares were bought at an average price of $16.87 per share, with a total value of $12,652,500.00. Following the purchase, the director directly owned 18,195,994 shares in the company, valued at $306,966,418.78. This trade represents a 4.30% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders acquired 1,975,000 shares of company stock valued at $32,929,750. Company insiders own 17.10% of the company’s stock.

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.