Alkami Technology (NASDAQ:ALKT) Stock Price Down 2.2% Following Insider Selling

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price fell 2.2% during trading on Wednesday following insider selling activity. The stock traded as low as $38.62 and last traded at $38.80. 43,088 shares were traded during mid-day trading, a decline of 92% from the average session volume of 519,523 shares. The stock had previously closed at $39.69.

Specifically, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the transaction, the director now directly owns 9,680,049 shares in the company, valued at $384,781,947.75. The trade was a 23.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 99,755 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $41.89, for a total transaction of $4,178,736.95. Following the sale, the chief financial officer now owns 371,648 shares in the company, valued at approximately $15,568,334.72. This represents a 21.16 % decrease in their position. The disclosure for this sale can be found here. In other news, CFO W Bryan Hill sold 110,250 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $38.62, for a total transaction of $4,257,855.00. Following the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at $18,205,583.86. This represents a 18.95 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ALKT. Craig Hallum upped their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays upped their target price on 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 lifted their price target 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. Needham & Company LLC upped their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, Lake Street Capital lifted their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $37.44.

Alkami Technology Trading Down 1.0 %

The stock has a market capitalization of $3.95 billion, a PE ratio of -83.57 and a beta of 0.43. The company’s 50 day moving average price is $35.69 and its two-hundred day moving average price is $31.88. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Institutional Trading of Alkami Technology

Hedge funds have recently bought and sold shares of the business. Franklin Resources Inc. raised its holdings in shares of Alkami Technology by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock worth $61,364,000 after acquiring an additional 75,469 shares during the period. Geode Capital Management LLC raised its stake in Alkami Technology by 16.4% during the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after purchasing an additional 173,394 shares during the period. Bullseye Asset Management LLC raised its stake in Alkami Technology by 6.2% during the third quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock worth $2,707,000 after purchasing an additional 5,000 shares during the period. Barclays PLC grew its stake in shares of Alkami Technology by 108.2% in the 3rd quarter. Barclays PLC now owns 95,391 shares of the company’s stock valued at $3,009,000 after buying an additional 49,580 shares during the period. Finally, Castleark Management LLC acquired a new stake in shares of Alkami Technology during the 3rd quarter worth approximately $6,050,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.