Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells $2,597,489.61 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total value of $2,597,489.61. Following the completion of the sale, the director now directly owns 784,549 shares of the company’s stock, valued at $24,454,392.33. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Alkami Technology Price Performance

Shares of ALKT stock opened at $30.45 on Thursday. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology, Inc. has a 12-month low of $14.93 and a 12-month high of $36.00. The firm has a fifty day moving average of $29.94 and a 200-day moving average of $26.84. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of -50.75 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 return on equity of 13.47% and a negative net margin of 17.47%. The company’s revenue was up 24.9% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.17) earnings per share. On average, equities research analysts forecast that Alkami Technology, Inc. will post -0.38 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts recently issued reports on ALKT shares. Craig Hallum raised their price target on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC lifted their price target on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities increased their price objective on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a report on Thursday, August 1st. The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a report on Thursday, August 1st. Finally, Barclays increased their price target on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $33.89.

Institutional Trading of Alkami Technology

A number of large investors have recently bought and sold shares of the business. NBC Securities Inc. acquired a new position in shares of Alkami Technology in the fourth quarter valued at approximately $43,000. Perkins Coie Trust Co acquired a new position in Alkami Technology in the 2nd quarter worth $85,000. nVerses Capital LLC bought a new position in Alkami Technology during the 2nd quarter worth about $88,000. Quest Partners LLC bought a new position in shares of Alkami Technology during the fourth quarter worth about $113,000. Finally, Acadian Asset Management LLC bought a new stake in Alkami Technology in the 1st quarter valued at approximately $140,000. 54.97% of the stock is owned by institutional investors.

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.