Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells $1,905,734.90 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 71,030 shares of Alkami Technology stock in a transaction on Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at approximately $7,049,555.67. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Alkami Technology Trading Down 3.8 %

Alkami Technology stock traded down $1.06 during midday trading on Wednesday, hitting $26.57. 727,533 shares of the stock were exchanged, compared to its average volume of 334,448. The company has a fifty day simple moving average of $24.21 and a two-hundred day simple moving average of $23.61. The stock has a market capitalization of $2.59 billion, a PE ratio of -46.05 and a beta of 0.40. Alkami Technology, Inc. has a 52 week low of $11.97 and a 52 week high of $27.94. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The business had revenue of $76.10 million for the quarter, compared to the consensus estimate of $75.57 million. During the same quarter last year, the business posted ($0.16) EPS. The firm’s revenue was up 26.8% compared to the same quarter last year. Equities research analysts anticipate that Alkami Technology, Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALKT shares. Craig Hallum lifted their price target on Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Barclays boosted their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. JMP Securities reissued a “market outperform” rating and issued a $30.00 price target on shares of Alkami Technology in a report on Monday, April 15th. TheStreet upgraded Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. Finally, Needham & Company LLC boosted their target price on Alkami Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently modified their holdings of the business. NBC Securities Inc. acquired a new stake in Alkami Technology during the 4th quarter worth approximately $43,000. Beaird Harris Wealth Management LLC increased its position in shares of Alkami Technology by 31.7% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after acquiring an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of Alkami Technology during the third quarter worth $39,000. Quest Partners LLC bought a new stake in Alkami Technology in the 4th quarter valued at $113,000. Finally, SG Americas Securities LLC acquired a new position in Alkami Technology in the 3rd quarter worth $110,000. Institutional investors own 54.97% of the company’s stock.

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.