Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells 99,755 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 99,755 shares of the company’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the transaction, the chief financial officer now directly owns 371,648 shares of the company’s stock, valued at approximately $15,568,334.72. The trade was a 21.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

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

• On Thursday, November 21st, W Bryan Hill sold 110,250 shares of Alkami Technology stock. The stock was sold at an average price of $38.62, for a total value of $4,257,855.00.
• On Monday, November 18th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The shares were sold at an average price of $36.31, for a total transaction of $3,631,000.00.
• On Monday, September 23rd, W Bryan Hill sold 55,046 shares of Alkami Technology stock. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74.
• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The stock was sold at an average price of $31.59, for a total transaction of $566,629.83.

Alkami Technology Trading Down 6.0 %

Shares of ALKT stock traded down $2.53 during trading hours on Tuesday, hitting $39.69. 1,968,854 shares of the company were exchanged, compared to its average volume of 521,784. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The firm has a market cap of $3.99 billion, a P/E ratio of -84.45 and a beta of 0.43. The company has a 50 day simple moving average of $35.34 and a two-hundred day simple moving average of $31.73. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $42.29.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Needham & Company LLC raised their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group raised their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Lake Street Capital upped their target price on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Craig Hallum increased their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, Barclays boosted their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Three 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 has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

Hedge Funds Weigh In On Alkami Technology

Institutional investors have recently made changes to their positions in the stock. Geode Capital Management LLC increased its holdings in shares of Alkami Technology by 16.4% during the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after acquiring an additional 173,394 shares in the last quarter. Bullseye Asset Management LLC increased its stake in Alkami Technology by 6.2% during the 3rd quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock valued at $2,707,000 after purchasing an additional 5,000 shares in the last quarter. Barclays PLC increased its stake in Alkami Technology by 108.2% during the 3rd quarter. Barclays PLC now owns 95,391 shares of the company’s stock valued at $3,009,000 after purchasing an additional 49,580 shares in the last quarter. Castleark Management LLC acquired a new position in Alkami Technology during the third quarter worth $6,050,000. Finally, State Street Corp lifted its stake in shares of Alkami Technology by 5.1% in the third quarter. State Street Corp now owns 1,088,408 shares of the company’s stock valued at $34,328,000 after buying an additional 52,699 shares in the last quarter. 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.