Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells $119,250,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the completion of the sale, the director now directly owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. The trade was a 23.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Tuesday, November 12th, Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock. The shares were sold at an average price of $37.50, for a total value of $14,062,500.00.

Alkami Technology Trading Down 1.0 %

ALKT opened at $39.28 on Thursday. Alkami Technology, Inc. has a 1-year low of $21.19 and a 1-year high of $42.29. The stock has a market capitalization of $3.95 billion, a PE ratio of -83.57 and a beta of 0.43. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $35.52 and a two-hundred day moving average price of $31.83.

Analyst Ratings Changes

ALKT has been the subject of a number of recent research reports. Needham & Company LLC increased their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Lake Street Capital lifted their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Craig Hallum boosted their target price 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. JMP Securities increased 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. Finally, Barclays boosted 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 report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $37.44.

Institutional Trading of Alkami Technology

Several hedge funds have recently modified their holdings of ALKT. Franklin Resources Inc. raised its position in Alkami Technology by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock worth $61,364,000 after purchasing an additional 75,469 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Alkami Technology by 16.4% during the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after acquiring an additional 173,394 shares during the last quarter. Bullseye Asset Management LLC lifted its stake in shares of Alkami Technology by 6.2% during the third quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock valued at $2,707,000 after acquiring an additional 5,000 shares during the period. Barclays PLC boosted its holdings in Alkami Technology by 108.2% in the third quarter. Barclays PLC now owns 95,391 shares of the company’s stock valued at $3,009,000 after acquiring an additional 49,580 shares during the last quarter. Finally, Castleark Management LLC bought a new position in Alkami Technology in the third quarter valued at about $6,050,000. 54.97% of the stock is owned by institutional investors.

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.