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 that occurred on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the transaction, the insider now directly owns 191,668 shares of the company’s stock, valued at $7,676,303.40. This trade represents a 20.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Alkami Technology Stock Performance

ALKT opened at $39.61 on Friday. The company has a market cap of $3.98 billion, a price-to-earnings ratio of -84.28 and a beta of 0.46. The firm’s fifty day simple moving average is $37.54 and its two-hundred day simple moving average is $32.86. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 52-week low of $22.62 and a 52-week high of $42.29.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ALKT. Park Place Capital Corp purchased a new position in Alkami Technology in the 3rd quarter valued at $28,000. Advisors Asset Management Inc. grew its holdings in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. raised its position in shares of 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 buying an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. purchased a new position in shares of Alkami Technology in the second quarter worth about $40,000. Finally, Covestor Ltd boosted its position in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Needham & Company LLC raised their price objective on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays increased their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group upped their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. JMP Securities increased their price objective on shares of 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, Craig Hallum boosted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus 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.