Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $37.44

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

ALKT has been the subject of several analyst reports. Craig Hallum raised their price target on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC raised their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group raised their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, JMP Securities upped their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th.

Insiders Place Their Bets

In other Alkami Technology news, CFO W Bryan Hill sold 99,755 shares of the company’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 completion of the sale, the chief financial officer now directly owns 371,648 shares of the company’s stock, valued at approximately $15,568,334.72. This represents a 21.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction 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 transaction, the director now owns 9,680,049 shares in the company, valued at $384,781,947.75. This represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,360,428 shares of company stock valued at $244,916,568. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. Driehaus Capital Management LLC grew its holdings in 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 purchasing an additional 392,483 shares during the period. Millennium Management LLC raised 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 worth $14,658,000 after buying an additional 284,977 shares during the period. Castleark Management LLC purchased a new position in shares of Alkami Technology during the 3rd quarter valued at about $6,050,000. Loomis Sayles & Co. L P bought a new position in shares of Alkami Technology during the 3rd quarter valued at approximately $6,032,000. Finally, Massachusetts Financial Services Co. MA increased its holdings in Alkami Technology by 13.0% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after acquiring an additional 181,194 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Stock Up 0.5 %

Shares of NASDAQ:ALKT opened at $39.47 on Friday. 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 stock has a fifty day simple moving average of $35.99 and a two-hundred day simple moving average of $32.08. Alkami Technology has a 12-month low of $21.19 and a 12-month high of $42.29. The stock has a market capitalization of $3.97 billion, a price-to-earnings ratio of -83.98 and a beta of 0.43.

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.