Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Sells 375,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 375,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were 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 owns 12,680,049 shares of the company’s stock, valued at $475,501,837.50. This represents a 2.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Alkami Technology Trading Down 2.4 %

NASDAQ ALKT opened at $36.90 on Friday. Alkami Technology, Inc. has a one year low of $21.19 and a one year 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 business has a 50 day simple moving average of $33.98 and a 200 day simple moving average of $31.00. The stock has a market capitalization of $3.71 billion, a P/E ratio of -80.40 and a beta of 0.43.

Analysts Set New Price Targets

ALKT has been the subject of several recent research reports. 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 note on Thursday, October 31st. The Goldman Sachs Group upped 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. 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 report on Thursday, October 31st. Lake Street Capital increased 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, JMP Securities lifted their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Institutional Trading of Alkami Technology

Several hedge funds have recently modified their holdings of ALKT. Vanguard Group Inc. grew its holdings in 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 purchasing an additional 88,390 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Alkami Technology by 13.0% during 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 in the last quarter. FMR LLC grew its stake in shares of Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after buying an additional 141,319 shares during the period. Driehaus Capital Management LLC increased its position in Alkami Technology by 56.2% in 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 in the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Alkami Technology by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock worth $30,002,000 after buying an additional 120,468 shares during the period. Institutional investors own 54.97% of the company’s stock.

About Alkami Technology

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.