Alex Shootman Sells 37,758 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction 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 $31,422,158.25. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Alkami Technology Trading Up 0.6 %

NASDAQ ALKT opened at $29.62 on Friday. Alkami Technology, Inc. has a 12 month low of $16.49 and a 12 month high of $36.00. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. The stock has a 50 day moving average of $31.84 and a 200-day moving average of $27.73. The company has a market cap of $2.89 billion, a PE ratio of -49.37 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. The firm had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The company’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. On average, equities research analysts anticipate that Alkami Technology, Inc. will post -0.36 EPS for the current fiscal year.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently bought and sold shares of the business. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology in the second quarter valued at approximately $40,000. NBC Securities Inc. bought a new stake in Alkami Technology in the 4th quarter valued at $43,000. Perkins Coie Trust Co acquired a new stake in Alkami Technology during the 2nd quarter valued at $85,000. nVerses Capital LLC bought a new position in Alkami Technology during the second quarter worth $88,000. Finally, Quest Partners LLC acquired a new position in shares of Alkami Technology in the fourth quarter valued at $113,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on ALKT shares. Craig Hallum lifted their price target on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. JMP Securities lifted their target price on Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. Barclays upped their price target on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 1st. The Goldman Sachs Group raised their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Lake Street Capital boosted their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus price target of $33.89.

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.