Alkami Technology, Inc. (NASDAQ:ALKT) Insider Douglas A. Linebarger Sells 502 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 502 shares of the company’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $38.00, for a total transaction of $19,076.00. Following the completion of the transaction, the insider now owns 248,585 shares in the company, valued at approximately $9,446,230. This represents a 0.20 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alkami Technology Stock Down 2.6 %

Shares of NASDAQ ALKT opened at $35.93 on Friday. The firm’s fifty day moving average is $34.22 and its 200 day moving average is $31.13. Alkami Technology, Inc. has a 52 week low of $21.19 and a 52 week high of $41.36. 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 company has a market cap of $3.61 billion, a price-to-earnings ratio of -76.45 and a beta of 0.43.

Institutional Trading of Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALKT. Park Place Capital Corp bought a new position in Alkami Technology in the third quarter worth $28,000. Advisors Asset Management Inc. grew its position in shares of 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 period. Blue Trust Inc. increased its stake in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Alkami Technology during the 2nd quarter valued at about $40,000. Finally, Covestor Ltd boosted its stake in Alkami Technology by 6,300.0% during 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 in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ALKT shares. The Goldman Sachs Group upped their target price on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays upped their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Craig Hallum raised their target price on shares of 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 boosted their target price 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 increased their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.44.

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.