W Bryan Hill Sells 55,046 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 55,046 shares of the stock in a transaction dated Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the transaction, the chief financial officer now owns 471,403 shares of the company’s stock, valued at approximately $14,703,059.57. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

W Bryan Hill also recently made the following trade(s):

• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The shares were sold at an average price of $31.59, for a total transaction of $566,629.83.
• On Tuesday, August 27th, W Bryan Hill sold 69,511 shares of Alkami Technology stock. The stock was sold at an average price of $33.34, for a total transaction of $2,317,496.74.

Alkami Technology Price Performance

ALKT stock opened at $30.67 on Friday. The firm has a 50 day moving average of $31.78 and a 200-day moving average of $28.17. The firm has a market capitalization of $3.04 billion, a P/E ratio of -51.12 and a beta of 0.47. Alkami Technology, Inc. has a 12 month low of $16.49 and a 12 month high of $36.00. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.03 by $0.02. The firm had revenue of $82.16 million during the quarter, compared to the consensus estimate of $81.32 million. Alkami Technology had a negative net margin of 17.47% and a negative return on equity of 13.43%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period last year, the firm earned ($0.17) EPS. As a group, sell-side analysts predict that Alkami Technology, Inc. will post -0.36 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in ALKT. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology during the 2nd quarter valued at about $40,000. Algert Global LLC lifted its position in Alkami Technology by 294.6% during the second quarter. Algert Global LLC now owns 100,148 shares of the company’s stock valued at $2,852,000 after purchasing an additional 74,768 shares during the last quarter. Driehaus Capital Management LLC grew its stake in Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after buying an additional 392,483 shares in the last quarter. Susquehanna Fundamental Investments LLC bought a new position in shares of Alkami Technology in the 2nd quarter worth $666,000. Finally, Select Equity Group L.P. raised its position in shares of Alkami Technology by 11.4% during the 2nd quarter. Select Equity Group L.P. now owns 89,451 shares of the company’s stock valued at $2,548,000 after buying an additional 9,184 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Lake Street Capital increased their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Craig Hallum increased their price target on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC lifted their price objective on Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities upped their price objective on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. Finally, Barclays lifted their target price on shares of Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $33.89.

About Alkami Technology

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.