Douglas A. Linebarger Sells 71,030 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 71,030 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $26.83, for a total transaction of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at $7,049,555.67. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Alkami Technology Stock Performance

Alkami Technology stock opened at $26.37 on Friday. The company’s 50-day moving average price is $24.26 and its 200-day moving average price is $23.65. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. The company has a market cap of $2.57 billion, a PE ratio of -43.95 and a beta of 0.40. Alkami Technology, Inc. has a twelve month low of $12.53 and a twelve month high of $27.94.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.03. The company had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.16) earnings per share. On average, equities research analysts forecast that Alkami Technology, Inc. will post -0.41 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALKT. Needham & Company LLC upped their target price on shares of Alkami Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Craig Hallum upped their price target on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Barclays lifted their price objective on shares of Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a research report on Thursday, February 29th. The Goldman Sachs Group lowered shares of Alkami Technology from a “buy” rating to a “neutral” rating and upped their target price for the stock from $23.00 to $27.00 in a research report on Tuesday, January 23rd. Finally, TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. Three investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $26.90.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Beaird Harris Wealth Management LLC boosted its stake in Alkami Technology by 31.7% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares during the period. Harvest Fund Management Co. Ltd bought a new stake in shares of Alkami Technology in the 3rd quarter worth about $39,000. NBC Securities Inc. purchased a new position in shares of Alkami Technology during the 4th quarter worth about $43,000. SG Americas Securities LLC bought a new position in Alkami Technology during the 3rd quarter valued at about $110,000. Finally, Quest Partners LLC purchased a new stake in Alkami Technology in the 4th quarter worth about $113,000. Hedge funds and other 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.