Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Up 20.6% in October

Alkami Technology, Inc. (NASDAQ:ALKT) saw a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a growth of 20.6% from the October 15th total of 1,020,000 shares. Based on an average daily trading volume, of 638,600 shares, the short-interest ratio is presently 1.9 days. Currently, 2.4% of the shares of the stock are short sold.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. JMP Securities upped their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group lifted their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Lake Street Capital boosted their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Craig Hallum lifted their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, Needham & Company LLC upped their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average target price of $37.44.

Alkami Technology Stock Down 2.6 %

NASDAQ:ALKT opened at $35.93 on Friday. The company’s 50-day simple moving average is $34.22 and its 200-day simple moving average is $31.13. 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 has a fifty-two week low of $21.19 and a fifty-two week high of $41.36. The stock has a market capitalization of $3.61 billion, a P/E ratio of -76.45 and a beta of 0.43.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at approximately $16,314,595.60. The trade was a 12.44 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alex Shootman sold 37,758 shares of the stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the transaction, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. This trade represents a 3.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,112,491 shares of company stock valued at $115,454,041. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank increased its position in shares of Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after purchasing an additional 1,100 shares in the last quarter. Blair William & Co. IL increased its position in Alkami Technology by 51.1% during the 1st quarter. Blair William & Co. IL now owns 16,155 shares of the company’s stock valued at $397,000 after buying an additional 5,460 shares in the last quarter. Vanguard Group Inc. raised its stake in Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after buying an additional 88,390 shares during the last quarter. Acadian Asset Management LLC acquired a new stake in Alkami Technology in the first quarter worth about $140,000. Finally, MQS Management LLC purchased a new stake in shares of Alkami Technology during the first quarter worth about $237,000. 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.