Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells 100,000 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares in the company, valued at $11,828,904.63. The trade was a 22.03 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

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

• On Monday, December 16th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00.
• On Tuesday, December 3rd, W Bryan Hill sold 17,807 shares of Alkami Technology stock. The stock was sold at an average price of $38.37, for a total value of $683,254.59.
• On Monday, November 25th, W Bryan Hill sold 99,755 shares of Alkami Technology stock. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95.
• 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, November 18th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00.

Alkami Technology Trading Up 3.5 %

Shares of NASDAQ:ALKT traded up $1.17 during midday trading on Tuesday, hitting $34.69. 562,742 shares of the stock were exchanged, compared to its average volume of 584,980. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of -73.81 and a beta of 0.48. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The business’s 50-day moving average price is $38.10 and its 200 day moving average price is $34.57. Alkami Technology, Inc. has a 12 month low of $22.65 and a 12 month high of $42.29.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on ALKT shares. JMP Securities lifted their target price on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Barclays lifted their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Craig Hallum lifted their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ALKT. Park Place Capital Corp acquired a new position in shares of Alkami Technology in the third quarter worth approximately $28,000. Advisors Asset Management Inc. lifted its stake 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 acquiring an additional 631 shares during the period. Blue Trust Inc. lifted its stake in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new position in shares of Alkami Technology in the second quarter worth approximately $40,000. Finally, Covestor Ltd lifted its stake in shares of Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares during the period. 54.97% of the stock is owned by institutional investors and hedge funds.

About Alkami Technology

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.