Alkami Technology (NASDAQ:ALKT) Stock Price Down 4.6% – What’s Next?

Alkami Technology, Inc. (NASDAQ:ALKT)’s stock price traded down 4.6% on Wednesday . The stock traded as low as $34.00 and last traded at $34.11. 214,223 shares were traded during trading, a decline of 58% from the average session volume of 514,586 shares. The stock had previously closed at $35.76.

Analysts Set New Price Targets

ALKT has been the subject of a number of research reports. Craig Hallum lifted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities lifted their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group increased their target price on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Needham & Company LLC increased their target price 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. 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 six have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Alkami Technology Stock Down 1.1 %

The stock has a market cap of $3.54 billion, a price-to-earnings ratio of -74.87 and a beta of 0.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm’s 50-day simple moving average is $37.74 and its two-hundred day simple moving average is $34.77.

Insider Activity at Alkami Technology

In related news, Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the completion of the sale, the director now directly owns 13,055,049 shares of the company’s stock, valued at approximately $489,564,337.50. This represents a 16.07 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the completion of the transaction, the director now directly owns 12,680,049 shares in the company, valued at approximately $475,501,837.50. The trade was a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,517,380 shares of company stock worth $251,616,935 in the last ninety days. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several large investors have recently made changes to their positions in the stock. Park Place Capital Corp acquired a new position in Alkami Technology in the 3rd quarter worth $28,000. Advisors Asset Management Inc. boosted its position 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 worth $37,000 after buying an additional 631 shares during the period. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Alkami Technology during the second quarter worth about $40,000. Finally, Covestor Ltd raised its position in Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after buying an additional 2,646 shares during 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.