Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of “Hold” by Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has earned a consensus recommendation of “Hold” from the seven brokerages that are covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $22.20.

Several research firms have recently commented on ALKT. Citizens Jmp decreased their price objective on Alkami Technology from $28.00 to $23.00 and set a “market outperform” rating on the stock in a research note on Thursday, April 30th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Alkami Technology in a research note on Friday, June 5th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $20.00 to $19.00 and set an “overweight” rating on the stock in a research note on Monday, June 22nd.

Alkami Technology Price Performance

NASDAQ ALKT opened at $18.81 on Thursday. The business’s fifty day moving average is $17.06 and its 200 day moving average is $17.19. Alkami Technology has a fifty-two week low of $13.98 and a fifty-two week high of $26.89. The company has a debt-to-equity ratio of 0.98, a quick ratio of 2.13 and a current ratio of 2.13. The company has a market capitalization of $2.01 billion, a PE ratio of -44.78 and a beta of 0.58.

Insider Activity

In other news, Director Atlantic Genpar (Bermu General acquired 675,000 shares of Alkami Technology stock in a transaction dated Thursday, May 14th. The stock was purchased at an average cost of $16.49 per share, with a total value of $11,130,750.00. Following the completion of the purchase, the director directly owned 19,420,994 shares in the company, valued at approximately $320,252,191.06. This trade represents a 3.60% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have acquired 1,975,000 shares of company stock valued at $32,929,750 over the last three months. Corporate insiders own 17.10% of the company’s stock.

Institutional Inflows and Outflows

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