Alkami Technology, Inc. (NASDAQ:ALKT) Receives Average Rating of “Hold” from Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average rating of “Hold” from the eight analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $26.6667.

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Citizens Jmp reduced their target price on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. decreased their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Needham & Company LLC dropped their price target on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Barclays reduced their price objective on shares of 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.

Insider Buying and Selling at Alkami Technology

In related news, insider Douglas A. Linebarger sold 5,518 shares of Alkami Technology stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $93,254.20. Following the sale, the insider directly owned 216,233 shares in the company, valued at approximately $3,654,337.70. The trade was a 2.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Atlantic L.P. General purchased 900,000 shares of the company’s stock in a transaction dated Wednesday, March 11th. The stock was purchased at an average cost of $18.41 per share, with a total value of $16,569,000.00. Following the purchase, the director owned 14,879,451 shares in the company, valued at approximately $273,930,692.91. This trade represents a 6.44% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last ninety days, insiders have bought 3,351,515 shares of company stock valued at $59,829,413 and have sold 13,739 shares valued at $232,189. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Mutual of America Capital Management LLC acquired a new stake in shares of Alkami Technology during the 3rd quarter worth about $1,831,000. JANA Partners Management LP acquired a new position in Alkami Technology in the third quarter valued at about $47,008,000. Chicago Capital LLC purchased a new position in Alkami Technology during the third quarter worth about $33,665,000. Algebris UK Ltd. purchased a new position in Alkami Technology during the third quarter worth about $12,728,000. Finally, Westfield Capital Management Co. LP increased its position in shares of Alkami Technology by 160.0% during 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 acquiring an additional 1,904,474 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Trading Up 3.4%

ALKT stock opened at $16.56 on Friday. The company’s 50-day simple moving average is $17.37 and its 200-day simple moving average is $20.67. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.01. Alkami Technology has a 52-week low of $14.11 and a 52-week high of $31.66. The firm has a market cap of $1.76 billion, a P/E ratio of -36.00 and a beta of 0.57.

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.