Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill Sells 100,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction dated Monday, June 17th. The shares were sold at an average price of $25.72, for a total value of $2,572,000.00. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares of the company’s stock, valued at $12,585,824.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

W Bryan Hill also recently made the following trade(s):

• On Monday, May 20th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The shares were sold at an average price of $28.80, for a total value of $2,880,000.00.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $24.92 on Wednesday. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06. The business’s 50 day moving average is $26.02 and its two-hundred day moving average is $24.88. Alkami Technology, Inc. has a 12-month low of $14.93 and a 12-month high of $29.28. The stock has a market capitalization of $2.43 billion, a price-to-earnings ratio of -41.53 and a beta of 0.46.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, May 1st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. During the same quarter in the previous year, the firm posted ($0.16) EPS. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. Research analysts expect that Alkami Technology, Inc. will post -0.38 EPS for the current year.

Analyst Upgrades and Downgrades

ALKT has been the subject of several research reports. Craig Hallum boosted their target price on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a report on Monday, April 15th. Needham & Company LLC upped their price objective on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Barclays upped their price objective on Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research note on Thursday, February 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Alkami Technology in a research note on Thursday, February 29th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $26.90.

Hedge Funds Weigh In On Alkami Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Beaird Harris Wealth Management LLC grew its holdings in shares of Alkami Technology by 31.7% in the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares during the period. NBC Securities Inc. acquired a new stake in shares of Alkami Technology in the 4th quarter worth approximately $43,000. Quest Partners LLC acquired a new stake in shares of Alkami Technology in the 4th quarter worth approximately $113,000. Acadian Asset Management LLC acquired a new stake in shares of Alkami Technology in the 1st quarter worth approximately $140,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Alkami Technology by 253.0% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 7,597 shares of the company’s stock worth $182,000 after acquiring an additional 5,445 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.