Alkami Technology (NASDAQ:ALKT) Shares Gap Down to $11.65

Alkami Technology, Inc. (NASDAQ:ALKTGet Rating)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $11.65, but opened at $11.31. Alkami Technology shares last traded at $11.25, with a volume of 623 shares.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALKT. Stephens began coverage on Alkami Technology in a report on Wednesday, September 14th. They issued an “overweight” rating and a $18.00 price target on the stock. Needham & Company LLC increased their price target on Alkami Technology from $17.00 to $20.00 and gave the stock a “buy” rating in a report on Thursday, August 4th. Finally, Barclays increased their price target on Alkami Technology from $15.00 to $16.00 and gave the stock an “equal weight” rating in a report on Thursday, August 4th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology currently has an average rating of “Moderate Buy” and a consensus target price of $21.67.

Alkami Technology Stock Performance

The company has a quick ratio of 6.38, a current ratio of 6.38 and a debt-to-equity ratio of 0.25. The stock has a fifty day moving average price of $14.53 and a two-hundred day moving average price of $13.97.

Insider Activity

In other news, insider Douglas A. Linebarger sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 15th. The stock was sold at an average price of $13.98, for a total value of $1,398,000.00. Following the transaction, the insider now owns 90,382 shares in the company, valued at $1,263,540.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michael D. Hansen sold 73,302 shares of the stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $12.94, for a total transaction of $948,527.88. Following the completion of the sale, the director now directly owns 371,072 shares of the company’s stock, valued at $4,801,671.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Douglas A. Linebarger sold 100,000 shares of the stock in a transaction that occurred on Tuesday, November 15th. The shares were sold at an average price of $13.98, for a total value of $1,398,000.00. Following the sale, the insider now directly owns 90,382 shares of the company’s stock, valued at $1,263,540.36. The disclosure for this sale can be found here. Insiders have sold 190,600 shares of company stock worth $2,580,570 over the last 90 days. 40.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Alkami Technology

Large investors have recently bought and sold shares of the company. Los Angeles Capital Management LLC increased its position in Alkami Technology by 87.9% in the second quarter. Los Angeles Capital Management LLC now owns 127,891 shares of the company’s stock worth $1,776,000 after buying an additional 59,824 shares during the last quarter. SG Americas Securities LLC increased its position in Alkami Technology by 38.4% in the second quarter. SG Americas Securities LLC now owns 57,951 shares of the company’s stock worth $805,000 after buying an additional 16,076 shares during the last quarter. Amalgamated Bank purchased a new stake in Alkami Technology in the first quarter worth $65,000. Royce & Associates LP grew its position in shares of Alkami Technology by 44.4% in the third quarter. Royce & Associates LP now owns 34,800 shares of the company’s stock valued at $524,000 after purchasing an additional 10,700 shares in the last quarter. Finally, Jennison Associates LLC purchased a new position in shares of Alkami Technology in the third quarter valued at $281,000. 52.74% of the stock is owned by hedge funds and other institutional investors.

About Alkami Technology

(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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