Alkami Technology, Inc. (NASDAQ:ALKT) Insider Douglas A. Linebarger Sells 71,030 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 71,030 shares of the company’s stock in a transaction dated Monday, May 6th. The stock was sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares of the company’s stock, valued at $7,049,555.67. The transaction was disclosed in a filing with the SEC, which is available at this link.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $26.57 on Thursday. Alkami Technology, Inc. has a 12 month low of $11.97 and a 12 month high of $27.94. The company’s fifty day moving average price is $24.23 and its 200-day moving average price is $23.63. The stock has a market cap of $2.59 billion, a PE ratio of -44.28 and a beta of 0.40. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, topping analysts’ consensus estimates of $0.02 by $0.03. The firm had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.16) earnings per share. On average, equities analysts expect that Alkami Technology, Inc. will post -0.41 EPS for the current fiscal year.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in the business. PEAK6 Investments LLC boosted its stake in shares of Alkami Technology by 217.3% in the 3rd quarter. PEAK6 Investments LLC now owns 113,538 shares of the company’s stock worth $2,069,000 after buying an additional 77,750 shares during the last quarter. SG Americas Securities LLC lifted its stake in shares of Alkami Technology by 1,283.9% in the 4th quarter. SG Americas Securities LLC now owns 83,727 shares of the company’s stock worth $2,030,000 after purchasing an additional 77,677 shares during the period. Quadrature Capital Ltd purchased a new position in shares of Alkami Technology in the third quarter worth approximately $214,000. Vanguard Group Inc. grew its position in Alkami Technology by 0.7% during the third quarter. Vanguard Group Inc. now owns 4,294,834 shares of the company’s stock valued at $78,252,000 after buying an additional 31,069 shares during the period. Finally, Bamco Inc. NY increased its holdings in Alkami Technology by 0.8% during the third quarter. Bamco Inc. NY now owns 780,130 shares of the company’s stock valued at $14,214,000 after buying an additional 6,064 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a research note on Monday, April 15th. Craig Hallum lifted their price objective on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. Needham & Company LLC boosted their price objective on Alkami Technology from $30.00 to $32.00 and gave the company a “buy” rating in a research report on Thursday, May 2nd. The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and raised their target price for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. Finally, TheStreet raised shares of Alkami Technology from a “d” rating to a “c-” rating in a research report on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.

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.