Douglas A. Linebarger Sells 43,336 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 43,336 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $38.50, for a total transaction of $1,668,436.00. Following the completion of the transaction, the insider now owns 248,585 shares in the company, valued at approximately $9,570,522.50. The trade was a 14.85 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Alkami Technology Price Performance

NASDAQ ALKT opened at $40.69 on Friday. Alkami Technology, Inc. has a 12 month low of $21.19 and a 12 month high of $41.36. The firm has a market capitalization of $4.09 billion, a PE ratio of -86.57 and a beta of 0.43. The company’s 50 day simple moving average is $35.10 and its 200 day simple moving average is $31.59. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Lake Street Capital raised their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their price objective on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group increased their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. JMP Securities boosted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Finally, Craig Hallum increased their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently modified their holdings of the company. Driehaus Capital Management LLC lifted its holdings in shares of Alkami Technology by 56.2% in the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the period. Millennium Management LLC lifted its holdings in Alkami Technology by 124.1% in the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after acquiring an additional 284,977 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new position in shares of Alkami Technology during the 1st quarter valued at about $5,569,000. Castleark Management LLC acquired a new position in shares of Alkami Technology in the 3rd quarter worth approximately $6,050,000. Finally, Loomis Sayles & Co. L P bought a new stake in shares of Alkami Technology in the 3rd quarter worth approximately $6,032,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.