Alkami Technology (NASDAQ:ALKT) Sees Unusually-High Trading Volume – Here’s Why

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) saw unusually-strong trading volume on Monday . Approximately 1,462,884 shares changed hands during trading, an increase of 123% from the previous session’s volume of 654,683 shares.The stock last traded at $25.32 and had previously closed at $25.26.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on ALKT shares. JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a research note on Thursday. The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Finally, Barclays decreased their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a report on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $41.00.

Alkami Technology Price Performance

The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm’s fifty day moving average price is $32.54 and its two-hundred day moving average price is $34.65. The stock has a market capitalization of $2.62 billion, a PE ratio of -54.50 and a beta of 0.49.

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

Insiders Place Their Bets

In related news, CFO W Bryan Hill sold 100,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction 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 approximately $11,828,904.63. This represents a 22.03 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of the company’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the transaction, the insider now owns 244,404 shares of the company’s stock, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 121,767 shares of company stock worth $4,004,934 over the last three months. 38.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

A number of hedge funds have recently bought and sold shares of the business. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Alkami Technology during the fourth quarter valued at $4,384,000. Jefferies Financial Group Inc. purchased a new stake in Alkami Technology during the fourth quarter valued at $2,704,000. Mackenzie Financial Corp raised its stake in Alkami Technology by 244.9% during the fourth quarter. Mackenzie Financial Corp now owns 26,509 shares of the company’s stock valued at $972,000 after purchasing an additional 18,823 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in Alkami Technology by 18.6% during the fourth quarter. Public Employees Retirement System of Ohio now owns 82,759 shares of the company’s stock valued at $3,036,000 after purchasing an additional 12,952 shares in the last quarter. Finally, Neo Ivy Capital Management purchased a new stake in shares of Alkami Technology in the fourth quarter valued at $96,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.