Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Update

Alkami Technology, Inc. (NASDAQ:ALKT) was the recipient of a significant growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,150,000 shares, a growth of 37.2% from the November 30th total of 838,400 shares. Currently, 1.8% of the shares of the stock are sold short. Based on an average daily trading volume, of 820,300 shares, the days-to-cover ratio is presently 1.4 days.

Alkami Technology Stock Down 4.5 %

ALKT stock traded down $1.72 during midday trading on Monday, hitting $36.81. The company’s stock had a trading volume of 406,834 shares, compared to its average volume of 544,091. Alkami Technology has a twelve month low of $22.62 and a twelve month high of $42.29. The stock has a market capitalization of $3.70 billion, a P/E ratio of -78.32 and a beta of 0.46. 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’s fifty day moving average price is $38.60 and its 200 day moving average price is $33.76.

Insiders Place Their Bets

In related news, insider Douglas A. Linebarger sold 5,239 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total value of $199,186.78. Following the completion of the transaction, the insider now owns 248,585 shares in the company, valued at $9,451,201.70. The trade was a 2.06 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology 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 directly owns 471,403 shares of the company’s stock, valued at $17,116,642.93. This trade represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,417,380 shares of company stock valued at $248,273,935. 38.00% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Driehaus Capital Management LLC increased its holdings in 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 buying an additional 392,483 shares during the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Alkami Technology by 474.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares during the period. Millennium Management LLC lifted 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 valued at $14,658,000 after purchasing an additional 284,977 shares during the last quarter. Castleark Management LLC bought a new position in Alkami Technology during the third quarter worth about $6,050,000. Finally, Loomis Sayles & Co. L P bought a new stake in Alkami Technology in the third quarter valued at approximately $6,032,000. Institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

ALKT has been the subject of a number of recent analyst reports. JMP Securities upped their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Craig Hallum lifted their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Barclays increased their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $40.88.

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.