Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells $93,750,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the completion of the sale, the director now owns 13,055,049 shares of the company’s stock, valued at approximately $489,564,337.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $37.87 on Friday. The stock has a market capitalization of $3.81 billion, a P/E ratio of -80.57 and a beta of 0.43. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1 year low of $20.38 and a 1 year high of $41.36. The firm has a 50 day moving average of $33.65 and a 200-day moving average of $30.72.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Lisanti Capital Growth LLC acquired a new position in Alkami Technology during the 1st quarter worth about $3,316,000. Swiss National Bank grew its stake in shares of Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after purchasing an additional 1,100 shares during the last quarter. Blair William & Co. IL increased its holdings in shares of Alkami Technology by 51.1% in the first quarter. Blair William & Co. IL now owns 16,155 shares of the company’s stock valued at $397,000 after purchasing an additional 5,460 shares in the last quarter. Vanguard Group Inc. raised its position in Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after purchasing an additional 88,390 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Alkami Technology during the 1st quarter worth $140,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

ALKT has been the subject of a number of recent research reports. The Goldman Sachs Group upped their target price on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Craig Hallum raised their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays lifted 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 report on Thursday, October 31st. JMP Securities increased their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Finally, Lake Street Capital lifted their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and an average price target of $37.44.

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.