Alkami Technology (NASDAQ:ALKT) Stock Price Down 2.2% Following Insider Selling

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) were down 2.2% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $38.62 and last traded at $38.80. Approximately 43,088 shares were traded during trading, a decline of 92% from the average daily volume of 519,523 shares. The stock had previously closed at $39.69.

Specifically, CFO W Bryan Hill sold 99,755 shares of Alkami Technology stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the transaction, the chief financial officer now directly owns 371,648 shares of the company’s stock, valued at $15,568,334.72. The trade was a 21.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO W Bryan Hill sold 110,250 shares of the stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $38.62, for a total transaction of $4,257,855.00. Following the sale, the chief financial officer now directly owns 471,403 shares in the company, valued at $18,205,583.86. This represents a 18.95 % decrease in their position. The disclosure for this sale can be found here. In related news, insider Douglas A. Linebarger sold 43,336 shares of Alkami Technology stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $38.50, for a total value of $1,668,436.00. Following the completion of the transaction, the insider now owns 248,585 shares in the company, valued at approximately $9,570,522.50. The trade was a 14.85 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALKT. Craig Hallum upped their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays increased their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Lake Street Capital upped their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. JMP Securities lifted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Finally, Needham & Company LLC increased their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus price target of $37.44.

Alkami Technology Stock Down 0.6 %

The business’s fifty day moving average price is $35.34 and its 200 day moving average price is $31.73. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -84.45 and a beta of 0.43. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ALKT. Park Place Capital Corp purchased a new stake in shares of Alkami Technology during the third quarter worth approximately $28,000. Advisors Asset Management Inc. increased its stake in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares during the period. Blue Trust Inc. raised its holdings in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Alkami Technology in the second quarter valued at about $40,000. Finally, Perkins Coie Trust Co purchased a new stake in Alkami Technology in the 2nd quarter valued at approximately $85,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.