Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells $199,186.78 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 5,239 shares of the stock in a transaction dated 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 in the company, valued at $9,451,201.70. The trade was a 2.06 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alkami Technology Price Performance

ALKT stock opened at $35.93 on Friday. The company’s 50-day moving average price is $34.22 and its two-hundred day moving average price is $31.13. Alkami Technology, Inc. has a 12 month low of $21.19 and a 12 month high of $41.36. 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 firm has a market cap of $3.61 billion, a P/E ratio of -76.45 and a beta of 0.43.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Craig Hallum increased their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group increased their target price on 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 boosted their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays increased their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Lake Street Capital boosted their target price 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 issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.44.

Institutional Investors Weigh In On Alkami Technology

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Swiss National Bank boosted its stake in Alkami Technology by 1.3% in the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after buying an additional 1,100 shares in the last quarter. Blair William & Co. IL grew its holdings in shares of Alkami Technology by 51.1% during the 1st quarter. Blair William & Co. IL now owns 16,155 shares of the company’s stock valued at $397,000 after purchasing an additional 5,460 shares during the last quarter. Vanguard Group Inc. increased its position in Alkami Technology by 1.9% during 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 in the last quarter. Acadian Asset Management LLC bought a new position in Alkami Technology in the 1st quarter valued at approximately $140,000. Finally, MQS Management LLC acquired a new stake in Alkami Technology in the first quarter valued at approximately $237,000. 54.97% of the stock is currently owned by institutional investors.

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.