Douglas A. Linebarger Sells 6,000 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT – Get Rating) insider Douglas A. Linebarger sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $13.87, for a total transaction of $83,220.00. Following the completion of the transaction, the insider now directly owns 92,675 shares in the company, valued at approximately $1,285,402.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Shares of NASDAQ:ALKT traded up $0.48 during trading hours on Thursday, hitting $14.56. The stock had a trading volume of 356,389 shares, compared to its average volume of 364,057. The stock’s fifty day simple moving average is $12.63 and its 200 day simple moving average is $16.41. Alkami Technology, Inc. has a 1-year low of $9.23 and a 1-year high of $38.63. The firm has a market capitalization of $1.32 billion, a price-to-earnings ratio of -25.21 and a beta of 0.79. The company has a debt-to-equity ratio of 0.07, a quick ratio of 9.78 and a current ratio of 9.78.

Alkami Technology (NASDAQ:ALKT – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.06) by $0.01. Alkami Technology had a negative net margin of 30.15% and a negative return on equity of 13.11%. The company had revenue of $44.79 million for the quarter, compared to analyst estimates of $43.90 million. During the same quarter last year, the business earned ($1.30) earnings per share. Alkami Technology’s revenue was up 34.7% compared to the same quarter last year. As a group, research analysts anticipate that Alkami Technology, Inc. will post -0.65 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. D1 Capital Partners L.P. increased its stake in shares of Alkami Technology by 10.5% during the fourth quarter. D1 Capital Partners L.P. now owns 5,828,511 shares of the company’s stock valued at $116,920,000 after acquiring an additional 553,511 shares during the period. Vanguard Group Inc. increased its stake in shares of Alkami Technology by 3.4% during the first quarter. Vanguard Group Inc. now owns 2,841,483 shares of the company’s stock valued at $40,662,000 after acquiring an additional 92,155 shares during the period. Massachusetts Financial Services Co. MA increased its stake in shares of Alkami Technology by 2.8% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,351,035 shares of the company’s stock valued at $33,643,000 after acquiring an additional 64,472 shares during the period. BlackRock Inc. increased its stake in shares of Alkami Technology by 100.8% during the fourth quarter. BlackRock Inc. now owns 1,888,443 shares of the company’s stock valued at $37,882,000 after acquiring an additional 947,999 shares during the period. Finally, Long Path Partners Fund LP acquired a new position in shares of Alkami Technology during the first quarter valued at approximately $25,297,000. Institutional investors and hedge funds own 49.50% of the company’s stock.

ALKT has been the topic of a number of recent research reports. Barclays cut their target price on shares of Alkami Technology from $17.00 to $15.00 in a report on Monday, May 9th. Zacks Investment Research cut shares of Alkami Technology from a “hold” rating to a “sell” rating in a report on Tuesday, May 17th. Finally, Needham & Company LLC cut their target price on shares of Alkami Technology from $40.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 24th. One research analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $24.25.

Alkami Technology Company Profile (Get Rating)

Alkami Technology, Inc offers a cloud-based digital banking platform in the United States. The company's platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, multi-tenant architecture.

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