Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells 1,542,821 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 1,542,821 shares of Alkami Technology stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the transaction, the director now owns 17,186,985 shares in the company, valued at $455,970,712.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alkami Technology Stock Performance

Shares of Alkami Technology stock traded down $0.18 on Thursday, hitting $26.39. The stock had a trading volume of 114,904 shares, compared to its average volume of 331,882. The stock has a market cap of $2.57 billion, a price-to-earnings ratio of -44.28 and a beta of 0.40. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. Alkami Technology, Inc. has a twelve month low of $12.53 and a twelve month high of $27.94. The business’s 50 day moving average is $24.23 and its two-hundred day moving average is $23.63.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. During the same period in the prior year, the firm posted ($0.16) EPS. The company’s revenue for the quarter was up 26.8% on a year-over-year basis. Analysts forecast that Alkami Technology, Inc. will post -0.41 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group cut shares of Alkami Technology from a “buy” rating to a “neutral” rating and upped their price target for the company from $23.00 to $27.00 in a report on Tuesday, January 23rd. Barclays increased their target price on shares of Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a report on Thursday, February 29th. JMP Securities restated a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research note on Monday, April 15th. JPMorgan Chase & Co. increased their price target on Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research report on Thursday, February 29th. Finally, Craig Hallum upped their price objective on Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $26.90.

Hedge Funds Weigh In On Alkami Technology

Hedge funds have recently bought and sold shares of the business. NBC Securities Inc. acquired a new position in shares of Alkami Technology during the 4th quarter worth approximately $43,000. Beaird Harris Wealth Management LLC grew its position in Alkami Technology by 31.7% during the third quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock worth $38,000 after buying an additional 500 shares in the last quarter. Harvest Fund Management Co. Ltd bought a new position in Alkami Technology during the 3rd quarter worth $39,000. Quest Partners LLC acquired a new position in Alkami Technology in the 4th quarter valued at $113,000. Finally, SG Americas Securities LLC bought a new stake in shares of Alkami Technology during the 3rd quarter valued at $110,000. 54.97% of the stock is owned by institutional investors.

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.