Douglas A. Linebarger Sells 4,358 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the transaction, the insider now directly owns 244,404 shares in the company, valued at approximately $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alkami Technology Trading Down 2.5 %

Alkami Technology stock opened at $28.84 on Wednesday. Alkami Technology, Inc. has a 52 week low of $22.65 and a 52 week high of $42.29. 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 firm has a market capitalization of $2.90 billion, a PE ratio of -61.36 and a beta of 0.47. The business’s 50-day simple moving average is $34.45 and its 200-day simple moving average is $35.02.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Equities research analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Institutional Trading of Alkami Technology

Several hedge funds have recently modified their holdings of the stock. US Bancorp DE bought a new stake in Alkami Technology in the third quarter valued at about $259,000. Harbor Capital Advisors Inc. grew its position in Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after purchasing an additional 691 shares in the last quarter. Arlington Capital Management Inc. boosted its position in Alkami Technology by 3.5% during the third quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company’s stock valued at $2,239,000 after purchasing an additional 2,417 shares during the last quarter. Olympiad Research LP acquired a new stake in shares of Alkami Technology in the 3rd quarter valued at approximately $429,000. Finally, Principal Financial Group Inc. bought a new position in shares of Alkami Technology in the 3rd quarter valued at about $875,000. 54.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ALKT. Barclays reduced their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday. The Goldman Sachs Group decreased their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday. Finally, JPMorgan Chase & Co. increased their price objective 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 investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $41.14.

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.