Alkami Technology (NASDAQ:ALKT) Shares Gap Down – Time to Sell?

Alkami Technology, Inc. (NASDAQ:ALKT) gapped down prior to trading on Monday . The stock had previously closed at $27.30, but opened at $24.71. Alkami Technology shares last traded at $24.76, with a volume of 399,711 shares changing hands.

Wall Street Analysts Forecast Growth

ALKT has been the subject of a number of recent research reports. Barclays dropped their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. The Goldman Sachs Group reduced their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alkami Technology currently has an average rating of “Moderate Buy” and an average price target of $41.14.

Alkami Technology Stock Down 6.9 %

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 firm has a market cap of $2.60 billion, a price-to-earnings ratio of -53.89 and a beta of 0.49. The stock’s 50 day moving average is $33.77 and its 200 day moving average is $34.95.

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

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at $14,072,256.57. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 271,767 shares of company stock valued at $9,984,434. Company insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Essex Investment Management Co. LLC bought a new stake in Alkami Technology in the 4th quarter valued at $34,000. Advisors Asset Management Inc. increased its position in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares during the period. Quarry LP acquired a new stake in Alkami Technology in the fourth quarter valued at about $61,000. Neo Ivy Capital Management bought a new stake in shares of Alkami Technology during the 4th quarter valued at approximately $96,000. Finally, Covestor Ltd grew its position in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares during the last quarter. 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.