Alkami Technology, Inc. (NASDAQ:ALKT) Receives $40.88 Consensus PT from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has been given an average rating of “Moderate Buy” by the nine research firms that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average twelve-month target price among analysts that have issued a report on the stock in the last year is $40.88.

A number of research firms have weighed in on ALKT. Needham & Company LLC boosted 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. Barclays boosted their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Craig Hallum increased their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group boosted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th.

Insider Activity

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00. Following the transaction, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $14,072,256.57. This represents a 22.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the sale, the director now directly owns 9,680,049 shares of the company’s stock, valued at approximately $384,781,947.75. This trade represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,417,380 shares of company stock valued at $248,273,935. 38.00% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its stake in Alkami Technology by 474.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock worth $11,971,000 after buying an additional 313,478 shares during the period. Principal Financial Group Inc. acquired a new position in shares of Alkami Technology during the third quarter worth approximately $875,000. Franklin Resources Inc. lifted its holdings in shares of 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 in the last quarter. Geode Capital Management LLC grew its position in Alkami Technology by 16.4% in the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after purchasing an additional 173,394 shares during the period. Finally, Bullseye Asset Management LLC increased its stake in Alkami Technology by 6.2% during the 3rd quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock valued at $2,707,000 after purchasing an additional 5,000 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Alkami Technology Trading Down 5.9 %

Shares of Alkami Technology stock opened at $36.25 on Tuesday. The firm’s 50 day moving average is $38.60 and its 200 day moving average is $33.76. The firm has a market capitalization of $3.64 billion, a PE ratio of -77.13 and a beta of 0.46. Alkami Technology has a 1 year low of $22.62 and a 1 year high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

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.