Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells $1,668,436.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 43,336 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $38.50, for a total transaction of $1,668,436.00. Following the completion of the sale, the insider now owns 248,585 shares of the company’s stock, valued at approximately $9,570,522.50. This trade represents a 14.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $40.69 on Friday. The business’s 50-day moving average is $35.10 and its two-hundred day moving average is $31.56. Alkami Technology, Inc. has a 12 month low of $21.19 and a 12 month high of $41.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Analyst Ratings Changes

ALKT has been the subject of a number of analyst reports. Needham & Company LLC upped their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays raised their price objective 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. 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. JMP Securities increased their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 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 data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its holdings in Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after purchasing an additional 173,394 shares during the last quarter. Bullseye Asset Management LLC grew its position in shares of Alkami Technology by 6.2% during the third 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 increased its stake in shares of Alkami Technology by 108.2% in the third quarter. Barclays PLC now owns 95,391 shares of the company’s stock worth $3,009,000 after buying an additional 49,580 shares during the last quarter. Castleark Management LLC acquired a new stake in Alkami Technology in the third quarter valued at $6,050,000. Finally, State Street Corp boosted its stake in Alkami Technology by 5.1% during the 3rd quarter. State Street Corp now owns 1,088,408 shares of the company’s stock valued at $34,328,000 after acquiring an additional 52,699 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.