Alkami Technology (NASDAQ:ALKT) Insider Sells 5,518 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas Linebarger sold 5,518 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total value of $93,254.20. Following the completion of the sale, the insider owned 216,233 shares in the company, valued at approximately $3,654,337.70. This represents a 2.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Alkami Technology Price Performance

NASDAQ ALKT traded down $0.45 on Wednesday, hitting $16.49. The company had a trading volume of 2,092,407 shares, compared to its average volume of 2,460,528. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.66. The company has a market capitalization of $1.75 billion, a PE ratio of -35.85 and a beta of 0.57. The company’s fifty day moving average price is $19.67 and its 200-day moving average price is $21.84. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several research reports. Zacks Research downgraded Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Needham & Company LLC dropped their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Citizens Jmp decreased their target price on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research note on Thursday, February 26th. Finally, Barclays reduced their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. Five investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $28.57.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. General Atlantic L.P. lifted its stake in shares of Alkami Technology by 24.3% in the third quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after acquiring an additional 2,346,162 shares in the last quarter. Irenic Capital Management LP bought a new position in Alkami Technology in the 4th quarter worth approximately $48,596,000. North Reef Capital Management LP lifted its stake in shares of Alkami Technology by 1,545.7% in the 4th quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock worth $48,447,000 after acquiring an additional 1,972,396 shares during the period. Westfield Capital Management Co. LP boosted its stake in Alkami Technology by 160.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after buying an additional 1,904,474 shares in the last quarter. Finally, JANA Partners Management LP acquired a new position in Alkami Technology in the third quarter worth approximately $47,008,000. Institutional investors and hedge funds 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.