Alkami Technology (NASDAQ:ALKT) Price Target Raised to $45.00 at Craig Hallum

Alkami Technology (NASDAQ:ALKT) had its price objective increased by Craig Hallum from $38.00 to $45.00 in a report published on Thursday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other brokerages have also recently weighed in on ALKT. JMP Securities increased their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Needham & Company LLC raised their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday. The Goldman Sachs Group boosted their price target on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a report on Thursday, August 1st. Barclays increased their price objective on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Finally, Lake Street Capital boosted their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $37.60 on Thursday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. Alkami Technology has a fifty-two week low of $18.03 and a fifty-two week high of $41.36. The firm has a market cap of $3.72 billion, a PE ratio of -80.00 and a beta of 0.43. The business has a 50 day moving average price of $33.18 and a 200-day moving average price of $30.28.

Insider Buying and Selling

In related news, Director Brian R. Smith sold 83,333 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the sale, the director now owns 784,549 shares of the company’s stock, valued at $24,454,392.33. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Brian R. Smith sold 83,333 shares of Alkami Technology stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the completion of the transaction, the director now directly owns 784,549 shares in the company, valued at approximately $24,454,392.33. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction that occurred on Monday, September 9th. The stock was sold at an average price of $29.75, for a total value of $1,123,300.50. Following the completion of the sale, the chief executive officer now directly owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock worth $113,920,758 in the last three months. 38.00% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently modified their holdings of ALKT. Vanguard Group Inc. increased its stake in Alkami Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after purchasing an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings 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 buying an additional 181,194 shares during the last quarter. Driehaus Capital Management LLC increased its position in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Alkami Technology by 12.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock worth $30,002,000 after acquiring an additional 120,468 shares during the last quarter. Finally, Millennium Management LLC raised its holdings in Alkami Technology by 124.1% in the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after acquiring an additional 284,977 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.