Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have received a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $43.00.

Several research firms have recently weighed in on ALKT. Barclays lifted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC raised their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JPMorgan Chase & Co. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Craig Hallum raised 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.

Insiders Place Their Bets

In other news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the completion of the transaction, the director now directly owns 9,680,049 shares in the company, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 99,755 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $41.89, for a total value of $4,178,736.95. Following the transaction, the chief financial officer now owns 371,648 shares of the company’s stock, valued at $15,568,334.72. The trade was a 21.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,636,639 shares of company stock worth $143,586,172. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently made changes to their positions in ALKT. Vanguard Group Inc. raised its holdings in shares of Alkami Technology by 12.8% during the fourth quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock valued at $273,187,000 after purchasing an additional 843,129 shares during the last quarter. Burkehill Global Management LP bought a new stake in shares of Alkami Technology in the fourth quarter worth $12,838,000. JPMorgan Chase & Co. grew its holdings in shares of Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock worth $11,971,000 after acquiring an additional 313,478 shares during the period. Castleark Management LLC bought a new stake in shares of Alkami Technology in the third quarter worth $6,050,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Alkami Technology in the third quarter worth $6,032,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Down 4.4 %

ALKT opened at $33.74 on Wednesday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of -71.79 and a beta of 0.47. Alkami Technology has a twelve month low of $22.65 and a twelve month high of $42.29. The company’s 50-day moving average price is $36.86 and its two-hundred day moving average price is $35.11.

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.