Insider Selling: Alkami Technology (NASDAQ:ALKT) CFO Sells $116,086.10 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO Cassandra Hudson sold 6,869 shares of the firm’s stock in a transaction dated Monday, March 2nd. The shares were sold at an average price of $16.90, for a total transaction of $116,086.10. Following the transaction, the chief financial officer directly owned 286,757 shares in the company, valued at approximately $4,846,193.30. The trade was a 2.34% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Alkami Technology Stock Up 3.4%

ALKT stock opened at $17.06 on Friday. The firm’s 50-day moving average is $19.28 and its two-hundred day moving average is $21.73. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -37.09 and a beta of 0.57. Alkami Technology, Inc. has a 52 week low of $14.11 and a 52 week high of $31.66. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01.

Institutional Trading of Alkami Technology

Hedge funds and other institutional investors have recently made changes to their positions in the business. CWM LLC boosted its holdings in Alkami Technology by 176.2% during the second quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after buying an additional 601 shares in the last quarter. First Horizon Corp acquired a new position in Alkami Technology in the third quarter worth approximately $30,000. Smartleaf Asset Management LLC increased its holdings in shares of Alkami Technology by 91.7% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after buying an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after buying an additional 916 shares in the last quarter. Finally, Global Retirement Partners LLC acquired a new stake in shares of Alkami Technology during the 4th quarter valued at $37,000. 54.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Alkami Technology Company Profile

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.