Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells $40,931,041.13 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the completion of the transaction, the director now owns 17,186,985 shares of the company’s stock, valued at $455,970,712.05. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Alkami Technology Trading Down 1.1 %

ALKT stock opened at $26.08 on Friday. The company has a market capitalization of $2.54 billion, a PE ratio of -43.47 and a beta of 0.40. The company has a debt-to-equity ratio of 0.06, a quick ratio of 3.92 and a current ratio of 3.92. Alkami Technology, Inc. has a one year low of $12.73 and a one year high of $27.94. The company’s 50 day moving average price is $24.28 and its two-hundred day moving average price is $23.75.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The company had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. During the same quarter last year, the company earned ($0.16) EPS. The firm’s revenue was up 26.8% compared to the same quarter last year. As a group, analysts predict that Alkami Technology, Inc. will post -0.39 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALKT. JMP Securities reiterated a “market outperform” rating and issued a $30.00 target price on shares of Alkami Technology in a research note on Monday, April 15th. JPMorgan Chase & Co. boosted their target price on Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research report on Thursday, February 29th. Needham & Company LLC raised their price target on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a report on Thursday, May 2nd. Craig Hallum boosted their price objective on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Finally, TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.90.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors have recently made changes to their positions in the business. PEAK6 Investments LLC increased its holdings in Alkami Technology by 217.3% during the third quarter. PEAK6 Investments LLC now owns 113,538 shares of the company’s stock valued at $2,069,000 after buying an additional 77,750 shares during the last quarter. SG Americas Securities LLC lifted its position in shares of Alkami Technology by 1,283.9% during the 4th quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock valued at $2,030,000 after buying an additional 77,677 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Alkami Technology in the 3rd quarter worth approximately $214,000. Vanguard Group Inc. raised its stake in Alkami Technology by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock worth $78,252,000 after acquiring an additional 31,069 shares during the period. Finally, Bamco Inc. NY boosted its position in shares of Alkami Technology by 0.8% in the third quarter. Bamco Inc. NY now owns 780,130 shares of the company’s stock worth $14,214,000 after purchasing an additional 6,064 shares during the period. 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.