Alkami Technology, Inc. (NASDAQ:ALKT) Receives $40.88 Consensus Target Price from Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have received a consensus rating of “Moderate Buy” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $40.88.

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

Insiders Place Their Bets

In other news, insider Douglas A. Linebarger sold 5,239 shares of the stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $38.02, for a total value of $199,186.78. Following the sale, the insider now directly owns 248,585 shares of the company’s stock, valued at approximately $9,451,201.70. This represents a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Stephen Bohanon sold 15,491 shares of the firm’s stock in a transaction on Tuesday, December 3rd. The shares were sold at an average price of $38.37, for a total value of $594,389.67. Following the transaction, the insider now owns 358,204 shares of the company’s stock, valued at $13,744,287.48. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,417,380 shares of company stock worth $248,273,935. 38.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALKT. Park Place Capital Corp bought a new position in shares of Alkami Technology during the third quarter valued at $28,000. Advisors Asset Management Inc. raised its position in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares during the last quarter. Blue Trust Inc. lifted its stake in Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Alkami Technology during the 2nd quarter valued at about $40,000. Finally, Covestor Ltd grew its stake in shares of Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares during the period. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Stock Up 0.7 %

Shares of NASDAQ:ALKT opened at $39.90 on Tuesday. The stock’s 50-day moving average is $38.55 and its 200 day moving average is $33.58. The company has a market cap of $4.01 billion, a PE ratio of -84.89 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology has a 1 year low of $22.62 and a 1 year high of $42.29.

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.