Alkami Technology (NASDAQ:ALKT) Shares Down 5.1% – What’s Next?

Alkami Technology, Inc. (NASDAQ:ALKT) shares were down 5.1% during mid-day trading on Monday . The company traded as low as $36.11 and last traded at $36.58. Approximately 603,997 shares were traded during trading, an increase of 11% from the average daily volume of 545,008 shares. The stock had previously closed at $38.53.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ALKT shares. 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 research report on Friday, November 1st. Barclays increased their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. JMP Securities boosted their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Needham & Company LLC upped their price objective on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Craig Hallum lifted their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and an average target price of $40.88.

Alkami Technology Stock Down 5.3 %

The firm has a fifty day simple moving average of $38.60 and a 200 day simple moving average of $33.76. 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 company has a market cap of $3.67 billion, a PE ratio of -77.66 and a beta of 0.46.

Insiders Place Their Bets

In other news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00. Following the completion of the sale, the chief financial officer now owns 353,841 shares in the company, valued at approximately $14,072,256.57. The trade was a 22.03 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total transaction of $199,186.78. Following the transaction, the insider now directly owns 248,585 shares in the company, valued at approximately $9,451,201.70. This trade represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,417,380 shares of company stock valued at $248,273,935 over the last quarter. Company insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. nVerses Capital LLC increased its stake in Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after buying an additional 500 shares during the period. Advisors Asset Management Inc. increased its holdings in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the last quarter. Harbor Capital Advisors Inc. boosted its stake in shares of Alkami Technology by 12.7% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after buying an additional 691 shares during the last quarter. Park Place Capital Corp acquired a new stake in shares of Alkami Technology during the third quarter worth approximately $28,000. Finally, Blue Trust Inc. increased its stake 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 worth $38,000 after buying an additional 1,014 shares during the last quarter. 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.