Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells 15,605 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Stephen Bohanon sold 15,605 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the transaction, the insider now owns 388,181 shares of the company’s stock, valued at approximately $12,262,637.79. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Stephen Bohanon also recently made the following trade(s):

• On Thursday, August 29th, Stephen Bohanon sold 35,893 shares of Alkami Technology stock. The shares were sold at an average price of $33.60, for a total transaction of $1,206,004.80.

Alkami Technology Stock Down 5.8 %

Shares of Alkami Technology stock opened at $29.32 on Friday. The company’s 50 day moving average price is $31.88 and its 200-day moving average price is $27.62. Alkami Technology, Inc. has a 52-week low of $16.49 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.75 and a current ratio of 3.75. The stock has a market capitalization of $2.86 billion, a price-to-earnings ratio of -48.87 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.43% and a negative net margin of 17.47%. The company had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. During the same period last year, the firm earned ($0.17) earnings per share. Alkami Technology’s quarterly revenue was up 24.9% on a year-over-year basis. Equities research analysts forecast that Alkami Technology, Inc. will post -0.36 EPS for the current year.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in ALKT. Jump Financial LLC raised its holdings in Alkami Technology by 138.3% in the fourth quarter. Jump Financial LLC now owns 55,767 shares of the company’s stock worth $1,352,000 after purchasing an additional 32,367 shares in the last quarter. Wasatch Advisors LP purchased a new position in Alkami Technology during the 1st quarter valued at about $37,178,000. Lisanti Capital Growth LLC bought a new stake in Alkami Technology during the first quarter worth about $3,316,000. Trexquant Investment LP purchased a new stake in Alkami Technology in the fourth quarter worth about $1,094,000. Finally, Quest Partners LLC bought a new position in shares of Alkami Technology during the fourth quarter valued at approximately $113,000. Institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Craig Hallum raised their target price on Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. The Goldman Sachs Group boosted their price objective on shares of Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Barclays upped their target price on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 1st. Lake Street Capital increased their price target on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC raised their price objective on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $33.89.

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.