Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Buys 500,000 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General acquired 500,000 shares of the business’s stock in a transaction dated Thursday, March 12th. The stock was purchased at an average price of $18.33 per share, with a total value of $9,165,000.00. Following the completion of the transaction, the director directly owned 15,379,451 shares of the company’s stock, valued at $281,905,336.83. This trade represents a 3.36% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alkami Technology Price Performance

Shares of ALKT traded down $0.39 during trading hours on Monday, reaching $17.61. 1,351,490 shares of the company’s stock traded hands, compared to its average volume of 2,712,384. The firm’s 50 day simple moving average is $18.66 and its 200-day simple moving average is $21.42. The stock has a market cap of $1.87 billion, a PE ratio of -38.28 and a beta of 0.57. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.66.

Analysts Set New Price Targets

ALKT has been the topic of several recent research reports. Needham & Company LLC dropped their target price on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. JPMorgan Chase & Co. dropped their price objective on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Barclays decreased their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, February 26th. Finally, Citizens Jmp lowered their price target on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $26.67.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds have recently bought and sold shares of the business. Amundi boosted its holdings in Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after acquiring an additional 548 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Alkami Technology by 32.4% in the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock worth $64,000 after purchasing an additional 594 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Alkami Technology by 19.5% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,081 shares of the company’s stock worth $947,000 after purchasing an additional 5,884 shares in the last quarter. Millennium Management LLC grew its position in Alkami Technology by 64.7% during the 1st quarter. Millennium Management LLC now owns 698,677 shares of the company’s stock valued at $18,340,000 after purchasing an additional 274,439 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Alkami Technology by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock valued at $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.