Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Down 8.1% in October

Alkami Technology, Inc. (NASDAQ:ALKT) saw a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,020,000 shares, a decrease of 8.1% from the September 30th total of 1,110,000 shares. Approximately 2.0% of the shares of the stock are sold short. Based on an average daily volume of 561,500 shares, the short-interest ratio is currently 1.8 days.

Insider Transactions at Alkami Technology

In related news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares of the company’s stock, valued at $24,454,392.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the company’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the transaction, the director now directly owns 15,555,049 shares in the company, valued at approximately $484,850,877.33. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Brian R. Smith sold 83,333 shares of the firm’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the completion of the sale, the director now directly owns 784,549 shares of the company’s stock, valued at approximately $24,454,392.33. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,648,416 shares of company stock worth $113,920,758. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. increased its stake in Alkami Technology by 1.9% during 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 in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Alkami Technology by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after acquiring an additional 181,194 shares in the last quarter. Driehaus Capital Management LLC raised its holdings in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after acquiring an additional 392,483 shares during the period. Dimensional Fund Advisors LP lifted its position in Alkami Technology by 12.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after acquiring an additional 120,468 shares in the last quarter. Finally, Millennium Management LLC boosted its stake in Alkami Technology by 124.1% in the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after purchasing an additional 284,977 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Trading Down 1.2 %

ALKT opened at $38.18 on Thursday. Alkami Technology has a twelve month low of $17.32 and a twelve month high of $39.48. The firm has a market cap of $3.78 billion, a PE ratio of -70.70 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The firm’s fifty day moving average is $33.01 and its two-hundred day moving average is $30.05.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The business had revenue of $82.16 million for the quarter, compared to the consensus estimate of $81.32 million. During the same quarter last year, the business posted ($0.17) EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. Equities research analysts anticipate that Alkami Technology will post -0.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALKT. Barclays raised their price target on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their price target on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Needham & Company LLC increased their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. JMP Securities raised their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday. Finally, Craig Hallum upped their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $34.22.

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.