Alkami Technology (NASDAQ:ALKT) Shares Gap Down – Should You Sell?

Alkami Technology, Inc. (NASDAQ:ALKT) gapped down prior to trading on Monday . The stock had previously closed at $27.30, but opened at $24.71. Alkami Technology shares last traded at $24.76, with a volume of 399,711 shares changing hands.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ALKT shares. JPMorgan Chase & Co. increased their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Barclays reduced their price objective on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research note on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $41.14.

Alkami Technology Stock Down 0.5 %

The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm’s 50 day moving average price is $33.27 and its two-hundred day moving average price is $34.82. The company has a market capitalization of $2.43 billion, a price-to-earnings ratio of -50.55 and a beta of 0.49.

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

Insiders Place Their Bets

In other Alkami Technology news, insider Douglas A. Linebarger sold 50,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the sale, the insider now directly owns 191,668 shares in the company, valued at $7,676,303.40. This trade represents a 20.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00. Following the sale, the chief financial officer now owns 353,841 shares of the company’s stock, valued at approximately $14,072,256.57. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 271,767 shares of company stock valued at $9,984,434 over the last ninety days. 38.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ALKT. US Bancorp DE acquired a new position in shares of Alkami Technology in the third quarter valued at about $259,000. Principal Financial Group Inc. bought a new stake in Alkami Technology in the 3rd quarter valued at about $875,000. Covestor Ltd grew its position in shares of Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after purchasing an additional 2,646 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of Alkami Technology during the third quarter worth approximately $203,000. Finally, Victory Capital Management Inc. acquired a new stake in shares of Alkami Technology in the third quarter valued at approximately $979,000. Institutional investors 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.