Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) Target Price at $40.88

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $40.88.

A number of analysts recently issued reports on the company. JPMorgan Chase & Co. increased their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Craig Hallum increased their price target 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. Needham & Company LLC boosted their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their target price 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. Finally, Barclays boosted their price target 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.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00. Following the completion of the sale, the chief financial officer now owns 471,403 shares of the company’s stock, valued at approximately $17,116,642.93. This represents a 17.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction on Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the completion of the transaction, the director now owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. The trade was a 23.66 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,417,380 shares of company stock valued at $248,273,935. Insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in ALKT. Park Place Capital Corp bought a new stake in shares of Alkami Technology in the 3rd quarter valued at about $28,000. Advisors Asset Management Inc. increased its stake in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. lifted its position in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Alkami Technology during the second quarter valued at approximately $40,000. Finally, Covestor Ltd grew its holdings in shares of Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Trading Up 0.7 %

NASDAQ:ALKT opened at $39.90 on Tuesday. Alkami Technology has a 1 year low of $22.62 and a 1 year high of $42.29. The stock’s fifty day moving average price is $38.55 and its two-hundred day moving average price is $33.58. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company has a market cap of $4.01 billion, a P/E ratio of -84.89 and a beta of 0.46.

Alkami Technology Company Profile

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.