Douglas A. Linebarger Sells 502 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 502 shares of the stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $38.00, for a total transaction of $19,076.00. Following the transaction, the insider now owns 248,585 shares in the company, valued at $9,446,230. The trade was a 0.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Alkami Technology Stock Down 2.4 %

Shares of ALKT stock opened at $36.90 on Friday. The stock’s 50 day simple moving average is $34.09 and its two-hundred day simple moving average is $31.04. Alkami Technology, Inc. has a 1 year low of $21.19 and a 1 year high of $41.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group raised their target price 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. Craig Hallum raised their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC increased their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Barclays lifted their price objective on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, JMP Securities raised their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $37.44.

Institutional Investors Weigh In On Alkami Technology

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock valued at $114,264,000 after buying an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in Alkami Technology by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after buying an additional 181,194 shares during the last quarter. FMR LLC grew its stake in Alkami Technology by 10.2% during the 3rd 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. Driehaus Capital Management LLC raised its stake in Alkami Technology by 56.2% in 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 last quarter. Finally, Dimensional Fund Advisors LP raised its stake in Alkami Technology by 12.9% in the second quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after buying an additional 120,468 shares during the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

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.