Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells $3,343,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

W Bryan Hill also recently made the following trade(s):

• On Monday, December 16th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00.
• On Tuesday, December 3rd, W Bryan Hill sold 17,807 shares of Alkami Technology stock. The stock was sold at an average price of $38.37, for a total transaction of $683,254.59.
• On Monday, November 25th, W Bryan Hill sold 99,755 shares of Alkami Technology stock. The stock was sold at an average price of $41.89, for a total transaction of $4,178,736.95.
• On Thursday, November 21st, W Bryan Hill sold 110,250 shares of Alkami Technology stock. The stock was sold at an average price of $38.62, for a total transaction of $4,257,855.00.
• On Monday, November 18th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The stock was sold at an average price of $36.31, for a total transaction of $3,631,000.00.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $35.22 on Friday. The firm’s 50 day moving average is $38.00 and its two-hundred day moving average is $34.57. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. The firm has a market capitalization of $3.54 billion, a P/E ratio of -74.94 and a beta of 0.48. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Institutional Investors Weigh In On Alkami Technology

Several large investors have recently made changes to their positions in ALKT. Rhumbline Advisers increased its stake in shares of Alkami Technology by 11.2% in the second quarter. Rhumbline Advisers now owns 68,658 shares of the company’s stock valued at $1,955,000 after purchasing an additional 6,928 shares during the period. Arizona State Retirement System increased its stake in shares of Alkami Technology by 14.8% in the second quarter. Arizona State Retirement System now owns 13,543 shares of the company’s stock valued at $386,000 after purchasing an additional 1,750 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Alkami Technology by 13.0% during 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 acquiring an additional 181,194 shares during the period. Dimensional Fund Advisors LP increased its stake in shares of Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after acquiring an additional 120,468 shares during the period. Finally, Renaissance Technologies LLC increased its stake in shares of Alkami Technology by 12.2% during the second quarter. Renaissance Technologies LLC now owns 97,400 shares of the company’s stock valued at $2,774,000 after acquiring an additional 10,600 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ALKT. Craig Hallum increased their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. JMP Securities raised their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Finally, Needham & Company LLC raised their target price 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and an average price target of $43.00.

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.