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

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price dropped 2.2% on Wednesday after an insider sold shares in the company. The company traded as low as $38.62 and last traded at $38.80. Approximately 43,088 shares changed hands during trading, a decline of 92% from the average daily volume of 519,523 shares. The stock had previously closed at $39.69.

Specifically, CFO W Bryan Hill sold 99,755 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95. Following the sale, the chief financial officer now owns 371,648 shares in the company, valued at $15,568,334.72. This represents a 21.16 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 110,250 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $38.62, for a total transaction of $4,257,855.00. Following the transaction, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $18,205,583.86. This trade represents a 18.95 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In related news, insider Douglas A. Linebarger sold 43,336 shares of the business’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $38.50, for a total value of $1,668,436.00. Following the completion of the transaction, the insider now owns 248,585 shares of the company’s stock, valued at approximately $9,570,522.50. The trade was a 14.85 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALKT. The Goldman Sachs Group increased their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC upped their price target 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. Barclays increased their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. 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 research note on Thursday, October 31st. Finally, Lake Street Capital lifted 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 equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Stock Down 0.6 %

The stock has a 50 day moving average of $35.34 and a 200 day moving average of $31.73. The firm has a market capitalization of $3.97 billion, a price-to-earnings ratio of -84.45 and a beta of 0.43. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of the business. Trust Point Inc. acquired a new stake in shares of Alkami Technology during the 3rd quarter worth approximately $1,029,000. Oppenheimer Asset Management Inc. bought a new position in Alkami Technology during the 3rd quarter worth $1,860,000. Fifth Third Wealth Advisors LLC acquired a new stake in Alkami Technology in the third quarter worth $1,115,000. Principal Financial Group Inc. bought a new stake in Alkami Technology in the third quarter valued at $875,000. Finally, Driehaus Capital Management LLC boosted its holdings in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares during the period. 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.