Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells $3,631,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $36.31, for a total value of $3,631,000.00. Following the completion of the sale, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $17,116,642.93. This trade represents a 17.50 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

W Bryan Hill also recently made the following trade(s):

• On Thursday, November 21st, W Bryan Hill sold 110,250 shares of Alkami Technology stock. The stock was sold at an average price of $38.62, for a total value of $4,257,855.00.
• On Monday, September 23rd, W Bryan Hill sold 55,046 shares of Alkami Technology stock. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74.
• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The stock was sold at an average price of $31.59, for a total transaction of $566,629.83.
• On Tuesday, August 27th, W Bryan Hill sold 69,511 shares of Alkami Technology stock. The shares were sold at an average price of $33.34, for a total transaction of $2,317,496.74.

Alkami Technology Stock Up 5.0 %

ALKT stock opened at $40.69 on Friday. The stock has a fifty day moving average of $35.10 and a 200-day moving average of $31.56. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $41.36. The company has a market capitalization of $4.09 billion, a price-to-earnings ratio of -86.57 and a beta of 0.43. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Analysts Set New Price Targets

ALKT has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Barclays upped their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC lifted their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities boosted their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Finally, Lake Street Capital raised their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALKT. Park Place Capital Corp bought a new stake in shares of Alkami Technology in the third quarter valued at approximately $28,000. Advisors Asset Management Inc. grew its stake in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. raised its holdings in Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares during the period. Point72 Asset Management L.P. purchased a new stake in shares of Alkami Technology during the second quarter worth $40,000. Finally, Perkins Coie Trust Co bought a new position in shares of Alkami Technology in the second quarter worth $85,000. 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.