Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Down 21.9% in August

Alkami Technology, Inc. (NASDAQ:ALKT) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totalling 1,210,000 shares, a decrease of 21.9% from the August 15th total of 1,550,000 shares. Currently, 2.4% of the company’s shares are short sold. Based on an average trading volume of 587,100 shares, the days-to-cover ratio is presently 2.1 days.

Insider Activity

In related news, major shareholder George B. Kaiser sold 1,666,666 shares of the firm’s stock in a transaction that occurred on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,949,979.22. Following the sale, the insider now directly owns 8,419,784 shares of the company’s stock, valued at $262,444,667.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Alkami Technology news, major shareholder George B. Kaiser sold 1,666,666 shares of the company’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,949,979.22. Following the completion of the sale, the insider now directly owns 8,419,784 shares in the company, valued at $262,444,667.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of the company’s stock in a transaction on Monday, September 9th. The stock was sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the sale, the chief executive officer now directly owns 1,056,207 shares of the company’s stock, valued at $31,422,158.25. The disclosure for this sale can be found here. Insiders sold a total of 3,593,370 shares of company stock valued at $112,203,873 in the last 90 days. 38.00% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently bought and sold shares of the stock. Capital International Investors increased its stake in shares of Alkami Technology by 15.6% during the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock valued at $113,488,000 after acquiring an additional 632,061 shares during the period. Vanguard Group Inc. raised its stake in shares of 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 buying an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock valued at $44,719,000 after buying an additional 181,194 shares during the period. Wasatch Advisors LP acquired a new stake in Alkami Technology during the first quarter valued at approximately $37,178,000. Finally, Driehaus Capital Management LLC grew its position in Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after buying an additional 392,483 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on ALKT shares. Barclays lifted their price target on shares of 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 increased their target price on Alkami Technology from $35.00 to $38.00 and gave the stock a “market outperform” rating in a report on Thursday, August 1st. Craig Hallum boosted their price target on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group raised their price objective on Alkami Technology from $28.00 to $34.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Finally, Needham & Company LLC lifted their price objective on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus target price of $33.89.

Alkami Technology Stock Up 1.9 %

ALKT stock opened at $30.17 on Monday. The stock has a market cap of $2.94 billion, a PE ratio of -50.28 and a beta of 0.47. The firm’s 50-day simple moving average is $31.83 and its 200 day simple moving average is $27.79. Alkami Technology has a fifty-two week low of $16.49 and a fifty-two week high of $36.00. The company has a quick ratio of 3.75, a current ratio of 3.75 and a debt-to-equity ratio of 0.05.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The business had revenue of $82.16 million during the quarter, compared to analyst estimates of $81.32 million. During the same period in the prior year, the company posted ($0.17) EPS. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. As a group, sell-side analysts predict that Alkami Technology will post -0.36 EPS for the current year.

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.