Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $40.88

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $40.88.

Several equities research analysts recently issued reports on the company. Needham & Company LLC upped their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Craig Hallum increased their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. 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 report on Thursday, October 31st. The Goldman Sachs Group increased their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the completion of the transaction, the chief financial officer now owns 471,403 shares in the company, valued at $17,116,642.93. This trade represents a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the completion of the sale, the director now directly owns 12,680,049 shares in the company, valued at approximately $475,501,837.50. This trade represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,417,380 shares of company stock valued at $248,273,935. Company insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

A number of large investors have recently made changes to their positions in the stock. Park Place Capital Corp purchased a new stake in Alkami Technology during the 3rd quarter worth about $28,000. Advisors Asset Management Inc. boosted its position 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 acquiring an additional 631 shares during the period. Blue Trust Inc. grew its stake in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. bought a new stake in Alkami Technology during the 2nd quarter worth approximately $40,000. Finally, Covestor Ltd lifted its stake in Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Stock Performance

Shares of Alkami Technology stock opened at $36.25 on Tuesday. Alkami Technology has a 52 week low of $22.62 and a 52 week high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The business has a 50 day moving average price of $38.60 and a 200-day moving average price of $33.76. The company has a market cap of $3.64 billion, a PE ratio of -77.13 and a beta of 0.46.

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.