Alkami Technology, Inc. (NASDAQ:ALKT) Shares Sold by First International Bank & Trust

First International Bank & Trust lessened its stake in Alkami Technology, Inc. (NASDAQ:ALKT) by 21.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 74,117 shares of the company’s stock after selling 20,000 shares during the quarter. Alkami Technology accounts for approximately 0.7% of First International Bank & Trust’s portfolio, making the stock its 19th biggest position. First International Bank & Trust owned approximately 0.08% of Alkami Technology worth $2,338,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Point72 Asset Management L.P. purchased a new position in Alkami Technology in the second quarter worth approximately $40,000. Algert Global LLC lifted its position in shares of Alkami Technology by 294.6% during the 2nd quarter. Algert Global LLC now owns 100,148 shares of the company’s stock worth $2,852,000 after purchasing an additional 74,768 shares during the last quarter. Driehaus Capital Management LLC grew its stake in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after purchasing an additional 392,483 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in Alkami Technology in the second quarter valued at $666,000. Finally, Select Equity Group L.P. increased its holdings in Alkami Technology by 11.4% in the second 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 during the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT traded up $1.79 on Friday, reaching $33.29. The company’s stock had a trading volume of 450,425 shares, compared to its average volume of 444,142. Alkami Technology, Inc. has a 52-week low of $16.49 and a 52-week high of $36.00. The stock has a market capitalization of $3.25 billion, a P/E ratio of -55.48 and a beta of 0.46. The stock’s 50-day moving average is $31.60 and its two-hundred day moving average is $28.52. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.75 and a quick ratio of 3.75.

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

Insider Buying and Selling at Alkami Technology

In other news, CEO Alex Shootman sold 37,758 shares of the firm’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total value of $2,597,489.61. Following the sale, the director now directly owns 784,549 shares in the company, valued at $24,454,392.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alex Shootman sold 37,758 shares of the stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the transaction, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ALKT has been the subject of several analyst reports. Craig Hallum upped their price objective on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Barclays increased their price target on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Needham & Company LLC increased their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Finally, Lake Street Capital boosted their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $33.89.

Alkami Technology 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.