Alkami Technology, Inc. (NASDAQ:ALKT) Sees Large Increase in Short Interest

Alkami Technology, Inc. (NASDAQ:ALKT) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 1,450,000 shares, a growth of 26.1% from the December 31st total of 1,150,000 shares. Based on an average daily volume of 849,500 shares, the short-interest ratio is currently 1.7 days. Currently, 2.3% of the shares of the stock are short sold.

Alkami Technology Trading Up 2.5 %

NASDAQ ALKT opened at $36.84 on Thursday. The firm has a market capitalization of $3.70 billion, a PE ratio of -77.89 and a beta of 0.48. The business’s 50-day moving average price is $37.64 and its two-hundred day moving average price is $34.95. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology has a 12 month low of $22.65 and a 12 month high of $42.29.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ALKT. Barclays raised their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities boosted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. JPMorgan Chase & Co. increased their price target on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Craig Hallum boosted their price objective on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Finally, 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 report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $43.00.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. The trade was a 22.03 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Atlantic L.P. General sold 2,500,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the director now directly owns 13,055,049 shares in the company, valued at $489,564,337.50. This trade represents a 16.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,517,380 shares of company stock worth $251,616,935. Company insiders own 38.00% of the company’s stock.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in ALKT. Franklin Resources Inc. raised its holdings in Alkami Technology by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock worth $61,364,000 after purchasing an additional 75,469 shares during the last quarter. FMR LLC raised its stake in Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after buying an additional 141,319 shares during the last quarter. Geode Capital Management LLC raised its stake in Alkami Technology by 16.4% during the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after buying an additional 173,394 shares during the last quarter. State Street Corp lifted its holdings in 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 during the period. Finally, Dimensional Fund Advisors LP boosted its position in Alkami Technology by 12.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after acquiring an additional 120,468 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

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.