Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General Sells 2,500,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $37.50, for a total value of $93,750,000.00. Following the transaction, the director now directly owns 13,055,049 shares of the company’s stock, valued at approximately $489,564,337.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Alkami Technology Price Performance

Shares of ALKT traded up $0.09 during mid-day trading on Friday, reaching $37.85. 1,384,405 shares of the company’s stock were exchanged, compared to its average volume of 484,019. Alkami Technology, Inc. has a 52-week low of $20.38 and a 52-week high of $41.36. The company has a 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $30.58. The company has a market cap of $3.80 billion, a price-to-earnings ratio of -80.34 and a beta of 0.43. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. The Goldman Sachs Group increased their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. JMP Securities raised their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Lake Street Capital increased their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Craig Hallum increased their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC raised their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.44.

Institutional Trading of Alkami Technology

Institutional investors have recently added to or reduced their stakes in the business. Driehaus Capital Management LLC raised its stake in shares of Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after purchasing an additional 392,483 shares in the last quarter. Millennium Management LLC grew its position in Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after purchasing an additional 284,977 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new stake in shares of Alkami Technology during the 1st quarter valued at $5,569,000. Massachusetts Financial Services Co. MA boosted its stake in shares of Alkami Technology by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock valued at $44,719,000 after buying an additional 181,194 shares during the period. Finally, Lisanti Capital Growth LLC acquired a new stake in shares of Alkami Technology during the 1st quarter valued at $3,316,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Company Profile

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.