Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells 4,358 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. This represents a 1.75 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alkami Technology Trading Up 0.5 %

NASDAQ:ALKT opened at $28.97 on Thursday. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. The firm has a 50 day moving average of $34.24 and a 200 day moving average of $34.98. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market capitalization of $2.91 billion, a price-to-earnings ratio of -61.64 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million for the quarter, compared to analysts’ expectations of $89.63 million. As a group, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALKT shares. Barclays dropped their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday. The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $41.14.

Institutional Investors Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Alkami Technology by 474.5% during the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after acquiring an additional 313,478 shares during the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in Alkami Technology during the third quarter valued at approximately $1,860,000. FMR LLC lifted its position in Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after acquiring an additional 141,319 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after buying an additional 173,394 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new position in shares of Alkami Technology in the third quarter worth $1,115,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.