Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells $529,407.69 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 17,409 shares of the stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares in the company, valued at approximately $13,703,354.20. The trade was a 3.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

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

• On Monday, January 13th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00.
• On Monday, December 16th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The stock was sold at an average price of $39.77, for a total transaction of $3,977,000.00.

Alkami Technology Trading Up 0.5 %

Shares of Alkami Technology stock opened at $28.97 on Thursday. The firm has a market cap of $2.91 billion, a PE ratio of -61.64 and a beta of 0.47. 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 fifty-two week low of $22.65 and a fifty-two week high of $42.29. The business’s fifty day moving average is $34.24 and its two-hundred day moving average is $34.98.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. Analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ALKT. JPMorgan Chase & Co. increased their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Barclays reduced their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, The Goldman Sachs Group dropped their price objective on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $41.14.

Hedge Funds Weigh In On Alkami Technology

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Alkami Technology by 12.8% during the 4th quarter. Vanguard Group Inc. now owns 7,447,851 shares of the company’s stock worth $273,187,000 after buying an additional 843,129 shares during the last quarter. Alliancebernstein L.P. grew its position in Alkami Technology by 5,747.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after acquiring an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC acquired a new stake in Alkami Technology during the fourth quarter worth about $78,878,000. Driehaus Capital Management LLC raised its holdings in shares of Alkami Technology by 16.7% in the 4th quarter. Driehaus Capital Management LLC now owns 2,093,426 shares of the company’s stock worth $76,787,000 after purchasing an additional 299,728 shares during the period. Finally, Franklin Resources Inc. raised its holdings in shares of Alkami Technology by 0.4% in the 4th quarter. Franklin Resources Inc. now owns 1,811,795 shares of the company’s stock worth $66,457,000 after purchasing an additional 6,970 shares during the period. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.