Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells $2,002,500.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 50,000 shares of the stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the transaction, the insider now owns 191,668 shares in the company, valued at $7,676,303.40. The trade was a 20.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Alkami Technology Price Performance

Shares of ALKT stock traded down $0.31 on Friday, hitting $39.61. 488,668 shares of the company’s stock were exchanged, compared to its average volume of 540,729. The company has a 50 day moving average of $37.41 and a 200 day moving average of $32.77. The stock has a market cap of $3.98 billion, a P/E ratio of -84.28 and a beta of 0.46. 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, Inc. has a 12 month low of $22.62 and a 12 month high of $42.29.

Analyst Upgrades and Downgrades

A number of research firms recently commented on ALKT. Needham & Company LLC raised their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Craig Hallum boosted their price target on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities increased their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday. Finally, Barclays increased 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. Two 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, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.88.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently made changes to their positions in ALKT. Franklin Resources Inc. increased its holdings in shares of Alkami Technology by 4.4% during the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock worth $61,364,000 after buying an additional 75,469 shares in the last quarter. Geode Capital Management LLC increased its holdings in Alkami Technology by 16.4% in the 3rd 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 in the last quarter. Bullseye Asset Management LLC grew its holdings in Alkami Technology by 6.2% during the 3rd quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock worth $2,707,000 after acquiring an additional 5,000 shares during the last quarter. Barclays PLC increased its position in Alkami Technology by 108.2% in the 3rd quarter. Barclays PLC now owns 95,391 shares of the company’s stock valued at $3,009,000 after acquiring an additional 49,580 shares during the period. Finally, Castleark Management LLC bought a new position in shares of Alkami Technology during the third quarter valued at $6,050,000. 54.97% of the stock is 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.