Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Sells 375,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 375,000 shares of the business’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total value of $14,062,500.00. Following the completion of the sale, the director now directly owns 12,680,049 shares of the company’s stock, valued at approximately $475,501,837.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website.

Alkami Technology Stock Down 0.1 %

Shares of NASDAQ:ALKT opened at $37.60 on Wednesday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a 52-week low of $20.61 and a 52-week high of $41.36. The firm has a market capitalization of $3.78 billion, a P/E ratio of -80.00 and a beta of 0.43. The stock has a 50 day moving average price of $33.73 and a 200-day moving average price of $30.86.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ALKT shares. Needham & Company LLC lifted their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Craig Hallum upped their price target 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. 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 report on Friday, November 1st. Lake Street Capital upped their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, JMP Securities raised their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently added to or reduced their stakes in the company. Algert Global LLC grew its position in shares of Alkami Technology by 102.6% in the 3rd quarter. Algert Global LLC now owns 202,947 shares of the company’s stock worth $6,401,000 after buying an additional 102,799 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in Alkami Technology by 29.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock worth $16,854,000 after purchasing an additional 120,845 shares during the period. Intech Investment Management LLC bought a new position in shares of Alkami Technology during the third quarter valued at approximately $387,000. Advisors Asset Management Inc. lifted its holdings in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after purchasing an additional 631 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Alkami Technology by 108.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock worth $1,719,000 after purchasing an additional 28,395 shares in the last quarter. 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.