Alkami Technology (NASDAQ:ALKT) Shares Down 2.2% Following Insider Selling

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price was down 2.2% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $38.62 and last traded at $38.80. Approximately 43,088 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 519,523 shares. The stock had previously closed at $39.69.

Specifically, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology 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 transaction, the director now directly owns 9,680,049 shares of the company’s stock, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 99,755 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $41.89, for a total transaction of $4,178,736.95. Following the transaction, the chief financial officer now directly owns 371,648 shares of the company’s stock, valued at $15,568,334.72. This represents a 21.16 % decrease in their position. The disclosure for this sale can be found here. In related news, CFO W Bryan Hill sold 110,250 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $38.62, for a total value of $4,257,855.00. Following the sale, the chief financial officer now owns 471,403 shares in the company, valued at $18,205,583.86. This represents a 18.95 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink.

Wall Street Analyst Weigh In

Several research firms have commented on ALKT. Barclays boosted their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC increased their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. JMP Securities boosted their price objective 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. Finally, Lake Street Capital lifted their target price on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a 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 stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Alkami Technology Trading Down 1.0 %

The stock has a 50 day simple moving average of $35.52 and a 200-day simple moving average of $31.83. 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 market capitalization of $3.95 billion, a P/E ratio of -83.57 and a beta of 0.43.

Institutional Trading of Alkami Technology

Large investors have recently added to or reduced their stakes in the business. Park Place Capital Corp bought a new position in shares of Alkami Technology in the third quarter worth about $28,000. Advisors Asset Management Inc. raised its stake in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares during the period. Blue Trust Inc. lifted its holdings in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Alkami Technology in the second quarter worth approximately $40,000. Finally, Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology in the second quarter worth $85,000. 54.97% of the stock is currently owned by institutional investors.

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.