Alkami Technology (NASDAQ:ALKT) Trading Down 2.2% After Insider Selling

Alkami Technology, Inc. (NASDAQ:ALKT)’s stock price traded down 2.2% during mid-day trading on Wednesday after an insider sold shares in the company. The company traded as low as $38.62 and last traded at $38.80. 43,088 shares were traded during mid-day trading, a decline of 92% from the average session volume of 519,523 shares. The stock had previously closed at $39.69.

Specifically, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the business’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the sale, the director now directly owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. The trade was a 23.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO W Bryan Hill sold 99,755 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $41.89, for a total transaction 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. This represents a 21.16 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO W Bryan Hill sold 110,250 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were 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 approximately $18,205,583.86. This represents a 18.95 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of analyst reports. JMP Securities boosted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Barclays boosted their price objective on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Lake Street Capital raised their target price on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Needham & Company LLC upped their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Trading Down 1.0 %

The stock’s 50 day simple moving average is $35.52 and its 200 day simple moving average is $31.83. The firm has a market cap of $3.95 billion, a PE ratio of -83.57 and a beta of 0.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Institutional Investors Weigh In On Alkami Technology

A number of large investors have recently added to or reduced their stakes in ALKT. Vanguard Group Inc. raised its position in Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after purchasing an additional 88,390 shares during the period. Franklin Resources Inc. increased its stake in Alkami Technology by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock worth $61,364,000 after purchasing an additional 75,469 shares during the period. Massachusetts Financial Services Co. MA raised its holdings in 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 last quarter. FMR LLC boosted its holdings in shares of Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after purchasing an additional 141,319 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after purchasing an additional 173,394 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.