Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Recommendation of “Moderate Buy” by Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been given a consensus recommendation of “Moderate Buy” by the ten ratings firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $37.44.

A number of brokerages recently issued reports on ALKT. Needham & Company LLC upped their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday. Lake Street Capital raised their price objective on Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Barclays upped their target price on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday. JMP Securities lifted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Finally, Craig Hallum boosted their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday.

Alkami Technology Trading Up 2.7 %

NASDAQ ALKT opened at $37.60 on Monday. The company has a current ratio of 3.75, a quick ratio of 3.75 and a debt-to-equity ratio of 0.05. Alkami Technology has a 1-year low of $18.03 and a 1-year high of $41.36. The firm’s fifty day simple moving average is $33.18 and its 200-day simple moving average is $30.28. The company has a market capitalization of $3.72 billion, a PE ratio of -80.00 and a beta of 0.43.

Insider Transactions at Alkami Technology

In related news, CFO W Bryan Hill sold 55,046 shares of Alkami Technology stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $31.19, for a total value of $1,716,884.74. Following the completion of the sale, the chief financial officer now directly owns 471,403 shares in the company, valued at $14,703,059.57. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Alkami Technology news, CFO W Bryan Hill sold 55,046 shares of Alkami Technology stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $31.19, for a total transaction of $1,716,884.74. Following the completion of the sale, the chief financial officer now owns 471,403 shares of the company’s stock, valued at approximately $14,703,059.57. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 1,666,667 shares of the stock in a transaction on Monday, August 12th. The shares were sold at an average price of $31.17, for a total value of $51,950,010.39. Following the completion of the transaction, the director now directly owns 15,555,049 shares in the company, valued at approximately $484,850,877.33. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 3,648,416 shares of company stock worth $113,920,758 over the last 90 days. 38.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Trust Point Inc. acquired a new stake in shares of Alkami Technology in the 3rd quarter valued at approximately $1,029,000. Lisanti Capital Growth LLC acquired a new stake in Alkami Technology in the first quarter worth $3,316,000. Driehaus Capital Management LLC boosted its position in shares of Alkami Technology by 56.2% during the second quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock worth $31,080,000 after purchasing an additional 392,483 shares in the last quarter. Millennium Management LLC grew its holdings in shares of Alkami Technology by 124.1% in the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock valued at $14,658,000 after buying an additional 284,977 shares during the period. Finally, Hodges Capital Management Inc. increased its position in shares of Alkami Technology by 24.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock valued at $6,024,000 after buying an additional 40,949 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

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.