Alkami Technology (NASDAQ:ALKT) Now Covered by Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of Alkami Technology (NASDAQ:ALKT) in a report issued on Wednesday morning, Marketbeat Ratings reports. The brokerage issued an overweight rating and a $40.00 target price on the stock.

Several other analysts have also issued reports on the company. Barclays dropped their price objective on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research note on Monday, April 14th. JMP Securities reiterated a “market outperform” rating and set a $46.00 target price on shares of Alkami Technology in a research note on Thursday, May 1st. Lake Street Capital lowered their target price on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Needham & Company LLC lowered their target price on Alkami Technology from $54.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, May 1st. Finally, The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research note on Monday, March 3rd. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $39.25.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $28.34 on Wednesday. The company has a quick ratio of 2.75, a current ratio of 2.75 and a debt-to-equity ratio of 1.23. The stock’s 50 day moving average price is $27.96 and its two-hundred day moving average price is $31.06. The firm has a market capitalization of $2.92 billion, a price-to-earnings ratio of -74.58 and a beta of 0.58. Alkami Technology has a 12-month low of $21.70 and a 12-month high of $42.29.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 20,365 shares of the firm’s stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $28.36, for a total value of $577,551.40. Following the sale, the chief financial officer now owns 430,255 shares of the company’s stock, valued at approximately $12,202,031.80. This trade represents a 4.52% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 7,170 shares of the firm’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $203,341.20. Following the completion of the sale, the insider now directly owns 238,172 shares in the company, valued at approximately $6,754,557.92. This represents a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,690 shares of company stock valued at $785,288 over the last 90 days. 18.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

A number of large investors have recently modified their holdings of ALKT. Alliancebernstein L.P. boosted its holdings in shares of Alkami Technology by 5,747.1% in the 4th quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock valued at $99,305,000 after purchasing an additional 2,661,027 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in shares of Alkami Technology during the 4th quarter valued at $78,878,000. Champlain Investment Partners LLC acquired a new stake in shares of Alkami Technology during the 4th quarter valued at $57,772,000. Praesidium Investment Management Company LLC acquired a new stake in shares of Alkami Technology during the 1st quarter valued at $40,223,000. Finally, Invesco Ltd. boosted its holdings in shares of Alkami Technology by 353.1% during the 4th quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after acquiring an additional 1,134,746 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.