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 on Thursday, November 21st. The stock was sold at an average price of $38.50, for a total value of $1,668,436.00. Following the transaction, the insider now directly owns 248,585 shares of the company’s stock, valued at $9,570,522.50. The trade was a 14.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink.

Alkami Technology Stock Up 5.0 %

Shares of NASDAQ ALKT opened at $40.69 on Friday. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a 1 year low of $21.19 and a 1 year high of $41.36. The stock’s 50-day simple moving average is $35.10 and its 200-day simple moving average is $31.59. The firm has a market cap of $4.09 billion, a price-to-earnings ratio of -86.57 and a beta of 0.43.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. Park Place Capital Corp bought a new stake in shares of Alkami Technology in the third quarter worth $28,000. Advisors Asset Management Inc. grew its holdings in Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares in the last quarter. Blue Trust Inc. increased its position in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. bought a new position in shares of Alkami Technology during the second quarter worth about $40,000. Finally, Perkins Coie Trust Co acquired a new position in Alkami Technology in the second quarter worth about $85,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.