Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General Sells 2,500,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic L.P. General sold 2,500,000 shares of the business’s stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the transaction, the director now owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Alkami Technology Stock Performance

Shares of NASDAQ ALKT traded up $0.09 during midday trading on Friday, hitting $37.85. 1,384,405 shares of the company’s stock traded hands, compared to its average volume of 484,019. The firm has a fifty day moving average of $33.56 and a 200 day moving average of $30.58. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of -80.34 and a beta of 0.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a 1 year low of $20.38 and a 1 year high of $41.36.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of research reports. JMP Securities upped their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Needham & Company LLC increased their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays increased their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Lake Street Capital raised their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Institutional Trading of Alkami Technology

Hedge funds and other institutional investors have recently bought and sold shares of the stock. nVerses Capital LLC boosted its position in Alkami Technology by 16.1% during the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after buying an additional 691 shares in the last quarter. Park Place Capital Corp purchased a new stake in shares of Alkami Technology in the third quarter valued at approximately $28,000. Blue Trust Inc. boosted its stake in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the last quarter. Finally, Swiss National Bank boosted its stake in shares of Alkami Technology by 1.3% in the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after acquiring an additional 1,100 shares during the last quarter. Hedge funds and other 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.