Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells $19,076.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 502 shares of the business’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $38.00, for a total transaction of $19,076.00. Following the completion of the transaction, the insider now owns 248,585 shares in the company, valued at approximately $9,446,230. This trade represents a 0.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alkami Technology Price Performance

Shares of ALKT stock opened at $35.93 on Friday. The firm’s 50 day moving average price is $34.22 and its two-hundred day moving average price 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, Inc. has a 52-week low of $21.19 and a 52-week high of $41.36. The stock has a market cap of $3.61 billion, a PE ratio of -76.45 and a beta of 0.43.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently made changes to their positions in the stock. Park Place Capital Corp bought a new position in Alkami Technology during the 3rd quarter worth approximately $28,000. Advisors Asset Management Inc. lifted its stake in Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. boosted its stake in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Alkami Technology during the second quarter worth about $40,000. Finally, Perkins Coie Trust Co bought a new stake in Alkami Technology in the 2nd quarter valued at approximately $85,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Craig Hallum boosted their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities increased their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Barclays raised 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. Needham & Company LLC increased their price objective 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. Finally, Lake Street Capital raised their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.44.

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.