Scalar Gauge Management LLC Has $2.01 Million Stake in Alkami Technology, Inc. (NASDAQ:ALKT)

Scalar Gauge Management LLC reduced its stake in shares of Alkami Technology, Inc. (NASDAQ:ALKT) by 46.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 63,822 shares of the company’s stock after selling 55,000 shares during the quarter. Alkami Technology comprises about 1.1% of Scalar Gauge Management LLC’s portfolio, making the stock its 21st biggest position. Scalar Gauge Management LLC owned 0.06% of Alkami Technology worth $2,013,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently bought and sold shares of ALKT. Park Place Capital Corp acquired a new position in Alkami Technology during the 3rd quarter valued at about $28,000. Advisors Asset Management Inc. lifted its holdings in Alkami Technology by 117.9% in 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 period. Blue Trust Inc. boosted its stake in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in Alkami Technology during the 2nd quarter worth $40,000. Finally, Perkins Coie Trust Co bought a new stake in shares of Alkami Technology during the 2nd quarter valued at $85,000. Institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

ALKT has been the subject of a number of analyst reports. The Goldman Sachs Group lifted their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC boosted their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Craig Hallum increased their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. JMP Securities boosted their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Finally, Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.44.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 17,937 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total transaction of $566,629.83. Following the completion of the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at approximately $14,891,620.77. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of Alkami Technology stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,360,428 shares of company stock valued at $244,916,568 in the last 90 days. 38.00% of the stock is currently owned by company insiders.

Alkami Technology Trading Up 0.5 %

Shares of NASDAQ:ALKT opened at $39.47 on Friday. The firm has a market cap of $3.97 billion, a price-to-earnings ratio of -83.98 and a beta of 0.43. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 12 month low of $21.19 and a 12 month high of $42.29. The company’s fifty day simple moving average is $35.84 and its 200 day simple moving average is $31.93.

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.