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

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average rating of “Moderate Buy” from the eight brokerages that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12-month target price among brokers that have covered the stock in the last year is $39.25.

ALKT has been the topic of a number of research analyst reports. Needham & Company LLC dropped their price target 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. JMP Securities restated a “market outperform” rating and set a $46.00 price target on shares of Alkami Technology in a research note on Thursday, May 1st. Barclays dropped their price target 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. JPMorgan Chase & Co. initiated coverage on Alkami Technology in a research note on Wednesday, June 18th. They set an “overweight” rating and a $40.00 price target on the stock. Finally, Lake Street Capital dropped their price target 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.

Alkami Technology Price Performance

ALKT opened at $28.68 on Friday. The business’s 50-day moving average is $29.39 and its two-hundred day moving average is $29.96. Alkami Technology has a 1 year low of $21.70 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 1.23, a current ratio of 2.75 and a quick ratio of 2.75. The firm has a market capitalization of $2.95 billion, a PE ratio of -75.47 and a beta of 0.59.

Insider Buying and Selling

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

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. increased its position in shares of Alkami Technology by 2.0% in the first quarter. Oppenheimer Asset Management Inc. now owns 58,487 shares of the company’s stock valued at $1,535,000 after buying an additional 1,166 shares in the last quarter. GAMMA Investing LLC increased its position in shares of Alkami Technology by 1,386.9% in the first quarter. GAMMA Investing LLC now owns 10,973 shares of the company’s stock valued at $288,000 after buying an additional 10,235 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Alkami Technology by 86.8% in the fourth quarter. Bank of New York Mellon Corp now owns 288,862 shares of the company’s stock valued at $10,595,000 after buying an additional 134,198 shares in the last quarter. Bank of America Corp DE increased its position in shares of Alkami Technology by 7.1% in the fourth quarter. Bank of America Corp DE now owns 229,629 shares of the company’s stock valued at $8,423,000 after buying an additional 15,293 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of Alkami Technology by 15.8% in the fourth quarter. Geode Capital Management LLC now owns 1,426,038 shares of the company’s stock valued at $52,320,000 after buying an additional 194,051 shares in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

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.