Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells 375,000 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.50, for a total value of $14,062,500.00. Following the completion of the transaction, the director now directly owns 12,680,049 shares in the company, valued at $475,501,837.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Alkami Technology Price Performance

NASDAQ ALKT traded down $0.04 on Tuesday, hitting $37.60. The company had a trading volume of 1,199,397 shares, compared to its average volume of 496,507. Alkami Technology, Inc. has a 12-month low of $20.61 and a 12-month high of $41.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The company’s fifty day moving average price is $33.73 and its 200-day moving average price is $30.86. The company has a market capitalization of $3.78 billion, a PE ratio of -80.09 and a beta of 0.43.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALKT. nVerses Capital LLC grew its holdings in shares of Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the period. Advisors Asset Management Inc. boosted its stake in shares of Alkami Technology by 117.9% in the third 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 period. Harbor Capital Advisors Inc. increased its position in shares of Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after purchasing an additional 691 shares during the last quarter. Park Place Capital Corp acquired a new position in Alkami Technology during the third quarter worth approximately $28,000. Finally, Blue Trust Inc. raised its holdings in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on ALKT. JMP Securities increased their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Barclays lifted their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Lake Street Capital upped their target price 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, Craig Hallum lifted their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.44.

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.