Alkami Technology (NASDAQ:ALKT) Hits New 12-Month High – What’s Next?

Alkami Technology, Inc. (NASDAQ:ALKT) shares reached a new 52-week high during trading on Monday . The company traded as high as $41.57 and last traded at $40.58, with a volume of 45760 shares traded. The stock had previously closed at $40.69.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Craig Hallum lifted their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Lake Street Capital lifted their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities increased their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Barclays lifted their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group upped their target price on Alkami Technology from $34.00 to $39.00 and gave the company 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’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Alkami Technology Stock Down 6.0 %

The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -84.45 and a beta of 0.43. The business’s 50 day simple moving average is $35.34 and its 200-day simple moving average is $31.73.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The trade was a 3.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 transaction of $4,178,736.95. Following the transaction, the chief financial officer now owns 371,648 shares in the company, valued at $15,568,334.72. This represents a 21.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,396,321 shares of company stock worth $126,872,573 over the last 90 days. 25.90% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

A number of institutional investors and hedge funds have recently modified their holdings of the company. Park Place Capital Corp acquired a new position in shares of Alkami Technology during the third quarter worth approximately $28,000. Advisors Asset Management Inc. raised its stake in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares during the last quarter. Blue Trust Inc. boosted its holdings in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new stake in Alkami Technology in the 2nd quarter worth $40,000. Finally, Perkins Coie Trust Co bought a new position in shares of Alkami Technology during the 2nd quarter worth about $85,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.