Douglas A. Linebarger Sells 4,358 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 4,358 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $28.97 on Thursday. The company has a market capitalization of $2.91 billion, a price-to-earnings ratio of -61.64 and a beta of 0.47. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29. The firm’s 50-day moving average is $34.24 and its 200 day moving average is $34.98. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate of $0.08 by ($0.13). The firm had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. Research analysts predict that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Analyst Ratings Changes

ALKT has been the topic of several recent research reports. JPMorgan Chase & Co. upped their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group decreased their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, Barclays decreased their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $41.14.

Hedge Funds Weigh In On Alkami Technology

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after purchasing an additional 313,478 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in Alkami Technology in the 3rd quarter worth about $1,860,000. FMR LLC grew its stake in Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after acquiring an additional 141,319 shares in the last quarter. Geode Capital Management LLC grew its stake in Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after acquiring an additional 173,394 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new position in Alkami Technology in the 3rd quarter worth about $1,115,000. 54.97% of the stock is currently owned by institutional investors.

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.