Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells 5,239 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 5,239 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total transaction of $199,186.78. Following the completion of the transaction, the insider now owns 248,585 shares in the company, valued at $9,451,201.70. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.

Alkami Technology Stock Up 0.5 %

Shares of Alkami Technology stock traded up $0.19 during trading on Wednesday, hitting $37.79. 1,062,203 shares of the company’s stock traded hands, compared to its average volume of 499,155. The firm’s fifty day moving average price is $33.85 and its 200 day moving average price is $30.96. Alkami Technology, Inc. has a twelve month low of $21.19 and a twelve month high of $41.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after buying an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA grew its position in Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock valued at $44,719,000 after acquiring an additional 181,194 shares during the period. FMR LLC raised its stake in Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after acquiring an additional 141,319 shares in the last quarter. Driehaus Capital Management LLC lifted its holdings in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Alkami Technology by 12.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after purchasing an additional 120,468 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

ALKT has been the topic of several research analyst reports. JMP Securities raised their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Barclays raised their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Lake Street Capital upped their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group increased their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Finally, Craig Hallum boosted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $37.44.

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.