Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Rating of “Moderate Buy” by Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has received an average recommendation of “Moderate Buy” from the ten research firms that are covering the stock, Marketbeat Ratings reports. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $37.44.

Several equities research analysts have recently issued reports on the stock. Needham & Company LLC raised their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday. Barclays boosted their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday. Lake Street Capital increased their price objective on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Craig Hallum boosted their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday.

Insider Activity

In other news, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the business’s stock in a transaction dated Monday, August 12th. The shares were sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the transaction, the director now directly owns 15,555,049 shares in the company, valued at $484,850,877.33. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Alkami Technology news, Director Brian R. Smith sold 83,333 shares of the firm’s stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $31.17, for a total transaction of $2,597,489.61. Following the completion of the sale, the director now owns 784,549 shares of the company’s stock, valued at $24,454,392.33. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the transaction, the director now directly owns 15,555,049 shares of the company’s stock, valued at approximately $484,850,877.33. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,648,416 shares of company stock valued at $113,920,758. 38.00% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

Hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. lifted its holdings in Alkami Technology by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after purchasing an additional 88,390 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Alkami Technology by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after buying an additional 181,194 shares during the period. Driehaus Capital Management LLC lifted its holdings 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 worth $31,080,000 after buying an additional 392,483 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Alkami Technology by 12.9% in 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, Millennium Management LLC grew its stake in shares of Alkami Technology by 124.1% in the second quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after acquiring an additional 284,977 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Price Performance

NASDAQ ALKT opened at $37.60 on Monday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a market cap of $3.72 billion, a price-to-earnings ratio of -80.00 and a beta of 0.43. The business has a 50 day simple moving average of $33.18 and a 200 day simple moving average of $30.28. Alkami Technology has a 52-week low of $18.03 and a 52-week high of $41.36.

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.