Alkami Technology (NASDAQ:ALKT – Get Rating) had its price objective decreased by Citigroup from $32.00 to $18.00 in a research report sent to investors on Tuesday morning, The Fly reports. Citigroup currently has a buy rating on the stock.
Other equities research analysts have also issued research reports about the company. Needham & Company LLC lowered their price objective on Alkami Technology from $40.00 to $22.00 and set a buy rating for the company in a research note on Thursday, February 24th. Barclays lowered their price objective on Alkami Technology from $17.00 to $15.00 in a research note on Monday, May 9th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, Alkami Technology presently has an average rating of Moderate Buy and a consensus target price of $23.00.
Shares of NASDAQ:ALKT opened at $13.98 on Tuesday. The company has a market cap of $1.26 billion, a P/E ratio of -24.10 and a beta of 0.80. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.78 and a current ratio of 9.78. Alkami Technology has a one year low of $9.23 and a one year high of $38.63. The business’s 50-day simple moving average is $12.43 and its 200 day simple moving average is $14.82.
In other news, CFO W Bryan Hill sold 2,889 shares of the company’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $14.37, for a total transaction of $41,514.93. Following the completion of the transaction, the chief financial officer now owns 195,685 shares in the company, valued at $2,811,993.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Alex Shootman purchased 22,468 shares of the stock in a transaction dated Thursday, May 19th. The shares were purchased at an average price of $11.13 per share, with a total value of $250,068.84. Following the transaction, the chief executive officer now directly owns 1,024,164 shares of the company’s stock, valued at approximately $11,398,945.32. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 41,244 shares of company stock valued at $550,488. 40.00% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. Lindbrook Capital LLC acquired a new stake in Alkami Technology in the fourth quarter worth about $52,000. Point72 Hong Kong Ltd acquired a new stake in Alkami Technology in the first quarter worth about $45,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in Alkami Technology in the fourth quarter worth about $113,000. Optimus Prime Fund Management Co. Ltd. acquired a new stake in Alkami Technology in the fourth quarter worth about $201,000. Finally, Jane Street Group LLC acquired a new stake in Alkami Technology in the first quarter worth about $178,000. 49.50% of the stock is owned by institutional investors and hedge funds.
About Alkami Technology (Get Rating)
Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.
- Get a free copy of the StockNews.com research report on Alkami Technology (ALKT)
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