Alkami Technology (NASDAQ:ALKT) Sets New 12-Month Low – Here’s What Happened

Alkami Technology, Inc. (NASDAQ:ALKT)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $15.73 and last traded at $16.28, with a volume of 3448624 shares traded. The stock had previously closed at $16.27.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on ALKT shares. Zacks Research cut shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC lowered their target price on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. JPMorgan Chase & Co. reduced their price objective on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Barclays lowered their price objective on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a research note on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $34.57.

Alkami Technology Stock Up 0.1%

The stock has a market cap of $1.71 billion, a PE ratio of -37.86 and a beta of 0.53. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17. The company has a 50 day moving average price of $20.88 and a two-hundred day moving average price of $22.21.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $166,360.86. Following the completion of the sale, the insider directly owned 221,751 shares in the company, valued at $4,510,415.34. The trade was a 3.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 18.10% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of large investors have recently added to or reduced their stakes in the stock. Amundi lifted its holdings in shares of Alkami Technology by 1.9% during the 1st quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after buying an additional 548 shares during the period. Advisors Asset Management Inc. grew its holdings in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after acquiring an additional 594 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Alkami Technology by 19.5% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock valued at $947,000 after acquiring an additional 5,884 shares during the last quarter. Millennium Management LLC lifted its holdings in Alkami Technology by 64.7% in the first quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after acquiring an additional 274,439 shares during the period. Finally, Goldman Sachs Group Inc. boosted its position in Alkami Technology by 11.1% in the first quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after purchasing an additional 71,949 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.