Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells $3,631,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the completion of the sale, the chief financial officer now owns 471,403 shares in the company, valued at $17,116,642.93. This represents a 17.50 % 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.

W Bryan Hill also recently made the following trade(s):

• On Thursday, November 21st, W Bryan Hill sold 110,250 shares of Alkami Technology stock. The stock was sold at an average price of $38.62, for a total transaction of $4,257,855.00.
• On Monday, September 23rd, W Bryan Hill sold 55,046 shares of Alkami Technology stock. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74.
• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The stock was sold at an average price of $31.59, for a total value of $566,629.83.
• On Tuesday, August 27th, W Bryan Hill sold 69,511 shares of Alkami Technology stock. The stock was sold at an average price of $33.34, for a total value of $2,317,496.74.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $40.69 on Friday. The company has a market capitalization of $4.09 billion, a P/E ratio of -86.57 and a beta of 0.43. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $41.36. 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 stock has a 50 day moving average price of $35.10 and a two-hundred day moving average price of $31.56.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Barclays boosted their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities upped their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Lake Street Capital raised their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC upped their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $37.44.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its position in shares of Alkami Technology by 1.3% in the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after acquiring an additional 1,100 shares during the period. Blair William & Co. IL grew its stake in shares of Alkami Technology by 51.1% in the first quarter. Blair William & Co. IL now owns 16,155 shares of the company’s stock worth $397,000 after purchasing an additional 5,460 shares during the last quarter. Vanguard Group Inc. increased its holdings in Alkami Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after purchasing an additional 88,390 shares during the period. Acadian Asset Management LLC bought a new position in Alkami Technology during the 1st quarter valued at approximately $140,000. Finally, MQS Management LLC purchased a new stake in Alkami Technology in the 1st quarter worth approximately $237,000. 54.97% of the stock is owned by hedge funds and other 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.