Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Sells 375,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 375,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the completion of the transaction, the director now directly owns 12,680,049 shares in the company, valued at $475,501,837.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alkami Technology Stock Performance

Shares of ALKT stock traded down $0.04 during trading on Tuesday, reaching $37.60. 1,199,397 shares of the company’s stock traded hands, compared to its average volume of 496,507. The company has a market capitalization of $3.78 billion, a P/E ratio of -80.09 and a beta of 0.43. The firm’s 50-day moving average is $33.73 and its 200 day moving average is $30.86. Alkami Technology, Inc. has a 1 year low of $20.61 and a 1 year high of $41.36. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALKT. Charles Schwab Investment Management Inc. increased its holdings in Alkami Technology by 29.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 534,375 shares of the company’s stock worth $16,854,000 after acquiring an additional 120,845 shares during the period. Intech Investment Management LLC bought a new position in shares of Alkami Technology in the third quarter worth $387,000. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its holdings in shares of Alkami Technology by 108.8% in the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 54,494 shares of the company’s stock valued at $1,719,000 after acquiring an additional 28,395 shares in the last quarter. Finally, Fifth Third Wealth Advisors LLC purchased a new stake in Alkami Technology in the third quarter valued at approximately $1,115,000. Institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Lake Street Capital lifted 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 lifted their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays increased their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. JMP Securities boosted their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Finally, Craig Hallum raised their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the company has an average 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.