Prerna Sachdeva Sells 1,352 Shares of Alkami Technology (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CAO Prerna Sachdeva sold 1,352 shares of the business’s stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total transaction of $22,848.80. Following the sale, the chief accounting officer owned 63,608 shares in the company, valued at $1,074,975.20. The trade was a 2.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $16.50 on Friday. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of -35.87 and a beta of 0.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The business’s 50 day simple moving average is $19.41 and its 200-day simple moving average is $21.77. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.66.

Analyst Ratings Changes

ALKT has been the topic of a number of research analyst reports. Citizens Jmp decreased their price target on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC dropped their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Finally, Barclays lowered their price target on Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday, February 26th. Five research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has an average rating of “Hold” and an average target price of $28.57.

Institutional Trading of Alkami Technology

Hedge funds have recently made changes to their positions in the company. General Atlantic L.P. raised its holdings in Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after buying an additional 2,346,162 shares during the last quarter. Irenic Capital Management LP acquired a new position in shares of Alkami Technology during the fourth quarter worth $48,596,000. North Reef Capital Management LP grew its stake in shares of Alkami Technology by 1,545.7% in the fourth quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock worth $48,447,000 after purchasing an additional 1,972,396 shares during the last quarter. Westfield Capital Management Co. LP increased its holdings in Alkami Technology by 160.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after purchasing an additional 1,904,474 shares during the period. Finally, JANA Partners Management LP bought a new position in Alkami Technology during the 3rd quarter worth $47,008,000. 54.97% of the stock is owned by institutional investors and hedge funds.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.