Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells $2,002,500.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 50,000 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the transaction, the insider now owns 191,668 shares in the company, valued at $7,676,303.40. This represents a 20.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Alkami Technology Stock Down 0.8 %

ALKT opened at $39.61 on Monday. 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 $22.62 and a 1-year high of $42.29. The company has a market capitalization of $3.98 billion, a PE ratio of -84.28 and a beta of 0.46. The firm’s 50 day simple moving average is $37.54 and its two-hundred day simple moving average is $32.92.

Institutional Trading of Alkami Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Resources Inc. grew its stake in Alkami Technology by 4.4% during the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after acquiring an additional 75,469 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after buying an additional 173,394 shares in the last quarter. Bullseye Asset Management LLC grew its stake in shares of Alkami Technology by 6.2% in the 3rd quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock worth $2,707,000 after buying an additional 5,000 shares in the last quarter. Barclays PLC grew its stake in shares of Alkami Technology by 108.2% in the 3rd quarter. Barclays PLC now owns 95,391 shares of the company’s stock worth $3,009,000 after buying an additional 49,580 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in shares of Alkami Technology in the 3rd quarter worth $6,050,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of recent research reports. The Goldman Sachs Group upped their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. JMP Securities upped their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Craig Hallum upped 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 upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Needham & Company LLC upped their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $40.88.

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.