Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells 99,755 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 99,755 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the transaction, the chief financial officer now directly owns 371,648 shares in the company, valued at approximately $15,568,334.72. This represents a 21.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

W Bryan Hill also recently made the following trade(s):

• On Thursday, November 21st, W Bryan Hill sold 110,250 shares of Alkami Technology stock. The shares were sold at an average price of $38.62, for a total transaction of $4,257,855.00.
• On Monday, November 18th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00.
• On Monday, September 23rd, W Bryan Hill sold 55,046 shares of Alkami Technology stock. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74.
• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The shares were sold at an average price of $31.59, for a total value of $566,629.83.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $39.69 on Wednesday. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology, Inc. has a 52 week low of $21.19 and a 52 week high of $42.29. The firm has a 50 day moving average of $35.34 and a 200-day moving average of $31.73. The company has a market cap of $3.99 billion, a price-to-earnings ratio of -84.45 and a beta of 0.43.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC boosted its position in shares of Alkami Technology by 16.4% during the 3rd quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after purchasing an additional 173,394 shares in the last quarter. Bullseye Asset Management LLC boosted its holdings in Alkami Technology by 6.2% in the third quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock worth $2,707,000 after acquiring an additional 5,000 shares in the last quarter. Barclays PLC boosted its holdings in Alkami Technology by 108.2% in the third quarter. Barclays PLC now owns 95,391 shares of the company’s stock worth $3,009,000 after acquiring an additional 49,580 shares in the last quarter. Castleark Management LLC acquired a new stake in Alkami Technology in the third quarter valued at approximately $6,050,000. Finally, State Street Corp increased its holdings in shares of Alkami Technology by 5.1% during the third quarter. State Street Corp now owns 1,088,408 shares of the company’s stock valued at $34,328,000 after acquiring an additional 52,699 shares in the last quarter. 54.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

ALKT has been the topic of a number of analyst reports. JMP Securities increased their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Craig Hallum increased their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC upped their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays raised their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $37.44.

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.