Douglas A. Linebarger Sells 60,000 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 60,000 shares of the firm’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $20.97, for a total transaction of $1,258,200.00. Following the transaction, the insider now owns 207,242 shares in the company, valued at $4,345,864.74. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alkami Technology Stock Performance

NASDAQ:ALKT opened at $20.52 on Friday. The firm has a market cap of $1.96 billion, a price-to-earnings ratio of -35.38 and a beta of 0.09. Alkami Technology, Inc. has a 1-year low of $10.93 and a 1-year high of $21.97. The firm’s fifty day moving average price is $18.07 and its 200 day moving average price is $16.22. The company has a debt-to-equity ratio of 0.29, a current ratio of 4.73 and a quick ratio of 4.73.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently made changes to their positions in the stock. Swiss National Bank raised its stake in shares of Alkami Technology by 8.6% during the 1st quarter. Swiss National Bank now owns 41,700 shares of the company’s stock worth $597,000 after buying an additional 3,300 shares during the last quarter. Bank of New York Mellon Corp raised its stake in Alkami Technology by 4.6% in the 1st quarter. Bank of New York Mellon Corp now owns 92,899 shares of the company’s stock valued at $1,329,000 after purchasing an additional 4,067 shares during the last quarter. MetLife Investment Management LLC raised its stake in Alkami Technology by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 17,775 shares of the company’s stock valued at $254,000 after purchasing an additional 6,338 shares during the last quarter. Rhumbline Advisers raised its stake in Alkami Technology by 28.0% in the 1st quarter. Rhumbline Advisers now owns 28,822 shares of the company’s stock valued at $412,000 after purchasing an additional 6,298 shares during the last quarter. Finally, Vanguard Group Inc. raised its stake in Alkami Technology by 3.4% in the 1st quarter. Vanguard Group Inc. now owns 2,841,483 shares of the company’s stock valued at $40,662,000 after purchasing an additional 92,155 shares during the last quarter. 52.74% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALKT has been the topic of a number of research reports. William Blair restated an “outperform” rating on shares of Alkami Technology in a research report on Thursday, November 2nd. Barclays raised their target price on shares of Alkami Technology from $18.00 to $19.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 3rd. JPMorgan Chase & Co. raised their target price on shares of Alkami Technology from $19.00 to $21.00 and gave the stock an “overweight” rating in a research report on Thursday, November 2nd. KeyCorp raised their target price on shares of Alkami Technology from $15.00 to $19.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Finally, JMP Securities raised their target price on shares of Alkami Technology from $23.00 to $25.00 and gave the stock a “market outperform” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $21.67.

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.