Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Recommendation of “Moderate Buy” by Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given an average recommendation of “Moderate Buy” by the eight brokerages that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $43.00.

A number of brokerages recently weighed in on ALKT. Craig Hallum upped their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities increased their price objective 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. The Goldman Sachs Group lifted their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. 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 note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th.

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total transaction of $199,186.78. Following the completion of the transaction, the insider now directly owns 248,585 shares of the company’s stock, valued at $9,451,201.70. The trade was a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the completion of the sale, the chief financial officer now directly owns 471,403 shares in the company, valued at approximately $17,116,642.93. This represents a 17.50 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,517,380 shares of company stock valued at $251,616,935 over the last ninety days. 25.90% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALKT. Dakota Wealth Management bought a new stake in shares of Alkami Technology during the 4th quarter worth approximately $518,000. Harbor Capital Advisors Inc. lifted its position in shares of Alkami Technology by 10.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company’s stock worth $247,000 after purchasing an additional 615 shares during the last quarter. Diversified Trust Co purchased a new stake in shares of Alkami Technology during the fourth quarter valued at $595,000. 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 purchasing an additional 313,478 shares during the last quarter. Finally, Principal Financial Group Inc. purchased a new position in Alkami Technology in the 3rd quarter worth about $875,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Alkami Technology Trading Up 0.9 %

ALKT stock opened at $35.52 on Friday. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology has a 1-year low of $22.65 and a 1-year high of $42.29. The business has a 50 day simple moving average of $37.95 and a two-hundred day simple moving average of $34.58. The company has a market capitalization of $3.57 billion, a price-to-earnings ratio of -75.57 and a beta of 0.48.

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.