Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned a consensus rating of “Moderate Buy” from the eight brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $43.00.

A number of brokerages have recently commented on ALKT. The Goldman Sachs Group increased their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Needham & Company LLC increased their target price on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Craig Hallum increased their price objective on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th.

Alkami Technology Stock Down 1.3 %

ALKT stock opened at $35.30 on Friday. Alkami Technology has a 1-year low of $22.65 and a 1-year high of $42.29. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -75.11 and a beta of 0.48. 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 company’s 50 day moving average is $37.77 and its 200 day moving average is $34.76.

Insider Activity at Alkami Technology

In other Alkami Technology news, Director Atlantic L.P. General sold 2,500,000 shares of the firm’s stock in a transaction on Friday, November 8th. The shares were sold at an average price of $37.50, for a total value of $93,750,000.00. Following the sale, the director now owns 13,055,049 shares of the company’s stock, valued at $489,564,337.50. This trade represents a 16.07 % decrease in their position. The sale 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 the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00. Following the transaction, the chief financial officer now directly owns 471,403 shares of the company’s stock, valued at approximately $17,116,642.93. This trade represents a 17.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,517,380 shares of company stock worth $251,616,935 in the last ninety days. 25.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALKT. Driehaus Capital Management LLC increased its stake in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after buying an additional 392,483 shares during the period. JPMorgan Chase & Co. boosted its holdings in Alkami Technology by 474.5% in the third quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company’s stock valued at $11,971,000 after acquiring an additional 313,478 shares in the last quarter. Millennium Management LLC increased its position in Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after purchasing an additional 284,977 shares during the period. Castleark Management LLC bought a new position in Alkami Technology in the 3rd quarter worth $6,050,000. Finally, Loomis Sayles & Co. L P purchased a new stake in shares of Alkami Technology in the 3rd quarter worth about $6,032,000. Hedge funds and other 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.