Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells 15,605 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Stephen Bohanon sold 15,605 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the sale, the insider now directly owns 388,181 shares in the company, valued at approximately $12,262,637.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Stephen Bohanon also recently made the following trade(s):

• On Thursday, August 29th, Stephen Bohanon sold 35,893 shares of Alkami Technology stock. The stock was sold at an average price of $33.60, for a total value of $1,206,004.80.

Alkami Technology Stock Performance

NASDAQ ALKT traded down $1.80 during trading hours on Friday, hitting $29.32. 560,235 shares of the stock were exchanged, compared to its average volume of 447,366. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -48.87 and a beta of 0.47. Alkami Technology, Inc. has a 12-month low of $16.49 and a 12-month high of $36.00. The stock has a 50-day moving average of $31.87 and a 200 day moving average of $27.60. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05.

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

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Point72 Asset Management L.P. purchased a new position in Alkami Technology in the second quarter valued at about $40,000. NBC Securities Inc. purchased a new position in Alkami Technology in the fourth quarter valued at about $43,000. Perkins Coie Trust Co purchased a new position in Alkami Technology in the second quarter valued at about $85,000. nVerses Capital LLC purchased a new position in Alkami Technology in the second quarter valued at about $88,000. Finally, Quest Partners LLC purchased a new position in Alkami Technology in the fourth quarter valued at about $113,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on ALKT shares. Lake Street Capital upped their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Craig Hallum upped their price objective on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays upped their price objective 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. Needham & Company LLC upped their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, JMP Securities upped their price objective on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $33.89.

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.