Alkami Technology (NASDAQ:ALKT) Sets New 52-Week High at $30.34

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $30.34 and last traded at $30.34, with a volume of 88854 shares trading hands. The stock had previously closed at $29.06.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALKT shares. Craig Hallum raised their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Needham & Company LLC restated a “buy” rating and issued a $32.00 price target on shares of Alkami Technology in a report on Tuesday, June 25th. Finally, JMP Securities restated a “market outperform” rating and issued a $30.00 price target on shares of Alkami Technology in a report on Monday, April 15th. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.56.

Alkami Technology Stock Performance

The firm’s 50-day moving average price is $26.55 and its 200-day moving average price is $25.13. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92.

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

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the completion of the sale, the chief financial officer now directly owns 505,877 shares in the company, valued at approximately $14,569,257.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Stephen Bohanon sold 12,450 shares of Alkami Technology stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.66, for a total transaction of $356,817.00. Following the completion of the transaction, the insider now directly owns 449,552 shares of the company’s stock, valued at approximately $12,884,160.32. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $28.80, for a total transaction of $2,880,000.00. Following the transaction, the chief financial officer now directly owns 505,877 shares of the company’s stock, valued at $14,569,257.60. The disclosure for this sale can be found here. Insiders sold 1,848,472 shares of company stock worth $49,241,550 in the last three months. 25.90% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

Institutional investors and hedge funds have recently bought and sold shares of the company. NBC Securities Inc. bought a new stake in Alkami Technology during the 4th quarter valued at about $43,000. Beaird Harris Wealth Management LLC increased its stake in Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after purchasing an additional 500 shares in the last quarter. Quest Partners LLC bought a new stake in Alkami Technology during the 4th quarter valued at about $113,000. Acadian Asset Management LLC bought a new stake in Alkami Technology during the 1st quarter valued at about $140,000. Finally, Harvest Fund Management Co. Ltd grew its stake in shares of Alkami Technology by 253.0% in the fourth 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. 54.97% of the stock is currently owned by institutional investors.

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.