Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells $1,716,884.74 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 55,046 shares of the company’s stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74. Following the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at $14,703,059.57. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

W Bryan Hill also recently made the following trade(s):

• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The shares were sold at an average price of $31.59, for a total transaction of $566,629.83.
• On Tuesday, August 27th, W Bryan Hill sold 69,511 shares of Alkami Technology stock. The stock was sold at an average price of $33.34, for a total value of $2,317,496.74.

Alkami Technology Stock Up 1.6 %

Alkami Technology stock opened at $31.17 on Friday. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 1-year low of $16.49 and a 1-year high of $36.00. The firm’s fifty day simple moving average is $31.75 and its 200-day simple moving average is $28.23. The company has a market capitalization of $3.09 billion, a P/E ratio of -51.95 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.03 by $0.02. The company had revenue of $82.16 million for the quarter, compared to analyst estimates of $81.32 million. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The business’s revenue was up 24.9% compared to the same quarter last year. During the same period last year, the company earned ($0.17) earnings per share. Sell-side analysts forecast that Alkami Technology, Inc. will post -0.36 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on ALKT shares. Barclays increased their price objective on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. JMP Securities boosted their price objective on shares of Alkami Technology from $35.00 to $38.00 and gave the company a “market outperform” rating in a research report on Thursday, August 1st. Needham & Company LLC upped their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Lake Street Capital upped their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus price target of $33.89.

Institutional Investors Weigh In On Alkami Technology

A number of large investors have recently added to or reduced their stakes in the stock. Capital International Investors lifted its stake in shares of Alkami Technology by 15.6% in the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after buying an additional 632,061 shares during the last quarter. Vanguard Group Inc. raised its holdings in Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after acquiring an additional 88,390 shares during the period. Massachusetts Financial Services Co. MA lifted its position in 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 acquiring an additional 181,194 shares during the last quarter. Wasatch Advisors LP bought a new stake in Alkami Technology during the first quarter valued at about $37,178,000. Finally, Driehaus Capital Management LLC grew its position in shares of Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after purchasing an additional 392,483 shares during the last quarter. 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.