Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $40.88

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average rating of “Moderate Buy” from the nine research firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and seven have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $40.88.

ALKT has been the topic of a number of research analyst reports. The Goldman Sachs Group boosted their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Barclays increased their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. JMP Securities upped their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. JPMorgan Chase & Co. raised their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Needham & Company LLC boosted their price target on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, Director Atlantic L.P. General sold 2,500,000 shares of the company’s stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the completion of the sale, the director now directly owns 13,055,049 shares in the company, valued at $489,564,337.50. This represents a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $36.31, for a total value of $3,631,000.00. Following the completion of the transaction, the chief financial officer now owns 471,403 shares in the company, valued at $17,116,642.93. The trade was a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 6,417,380 shares of company stock worth $248,273,935 over the last 90 days. Insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. nVerses Capital LLC boosted its holdings in Alkami Technology by 16.1% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares during the period. Harbor Capital Advisors Inc. increased its stake in Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after acquiring an additional 691 shares during the period. Park Place Capital Corp bought a new position in Alkami Technology during the third quarter valued at about $28,000. Finally, Blue Trust Inc. raised its holdings in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after acquiring an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Alkami Technology Trading Down 3.4 %

Shares of NASDAQ ALKT opened at $38.53 on Tuesday. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology has a one year low of $22.62 and a one year high of $42.29. The business has a 50-day moving average price of $38.60 and a two-hundred day moving average price of $33.71. The firm has a market capitalization of $3.87 billion, a PE ratio of -81.98 and a beta of 0.46.

About Alkami Technology

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.