Alkami Technology, Inc. (NASDAQ:ALKT) Receives Consensus Rating of “Moderate Buy” from Analysts

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $40.88.

ALKT has been the topic of several analyst reports. Barclays upped 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. JPMorgan Chase & Co. upped their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Needham & Company LLC lifted their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities upped their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group lifted their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st.

Insider Activity

In other Alkami Technology news, Director Atlantic L.P. General sold 2,500,000 shares of the business’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 owns 13,055,049 shares of the company’s stock, valued at $489,564,337.50. The trade was a 16.07 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 99,755 shares of the stock in a transaction that occurred on 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 sale, the chief financial officer now directly owns 371,648 shares in the company, valued at $15,568,334.72. This represents a 21.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 6,417,380 shares of company stock valued at $248,273,935. 38.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Park Place Capital Corp bought a new stake in Alkami Technology during the third quarter worth about $28,000. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Alkami Technology in the 2nd quarter valued at $40,000. Finally, Covestor Ltd boosted its stake in Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after buying an additional 2,646 shares in the last quarter. Institutional investors own 54.97% of the company’s stock.

Alkami Technology Trading Down 0.5 %

Shares of Alkami Technology stock opened at $38.93 on Tuesday. The stock has a market cap of $3.91 billion, a P/E ratio of -82.83 and a beta of 0.46. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology has a 12-month low of $22.62 and a 12-month high of $42.29. The business’s 50 day moving average is $38.12 and its 200-day moving average is $33.32.

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.