Alkami Technology (NASDAQ:ALKT) Sees Unusually-High Trading Volume – Still a Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) shares saw unusually-high trading volume on Monday . Approximately 221,299 shares changed hands during trading, a decline of 50% from the previous session’s volume of 441,591 shares.The stock last traded at $37.79 and had previously closed at $36.34.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the stock. Craig Hallum lifted their price target on shares of Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Barclays upped their target price on Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a report on Thursday, August 1st. Needham & Company LLC raised their price target on Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Lake Street Capital raised their price target 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. Finally, The Goldman Sachs Group boosted their price target on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $33.89.

Alkami Technology Price Performance

The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The company has a market cap of $3.72 billion, a price-to-earnings ratio of -64.52 and a beta of 0.46. The company’s 50 day moving average price is $31.88 and its 200-day moving average price is $29.28.

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

Insider Transactions at Alkami Technology

In related news, insider Stephen Bohanon sold 35,893 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $33.60, for a total value of $1,206,004.80. Following the completion of the transaction, the insider now owns 403,786 shares of the company’s stock, valued at approximately $13,567,209.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Stephen Bohanon sold 35,893 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the transaction, the insider now directly owns 403,786 shares of the company’s stock, valued at approximately $13,567,209.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO W Bryan Hill sold 17,937 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $566,629.83. Following the sale, the chief financial officer now owns 471,403 shares of the company’s stock, valued at $14,891,620.77. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 3,648,416 shares of company stock valued at $113,920,758 over the last ninety days. Corporate insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in shares of Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after acquiring an additional 88,390 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Alkami Technology by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after purchasing an additional 181,194 shares during the last quarter. Wasatch Advisors LP purchased a new stake in shares of Alkami Technology during the 1st quarter worth about $37,178,000. Driehaus Capital Management LLC lifted its holdings in shares of Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in shares of Alkami Technology by 12.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after buying an additional 120,468 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.