Brokerages Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $39.25

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and six have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $39.25.

Several equities analysts recently issued reports on the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research report on Saturday, September 27th. JPMorgan Chase & Co. started coverage on Alkami Technology in a research note on Wednesday, June 18th. They set an “overweight” rating and a $40.00 price target for the company.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $24.59 on Friday. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of -64.71 and a beta of 0.57. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. The business’s 50 day simple moving average is $24.28 and its 200-day simple moving average is $26.61. Alkami Technology has a 12 month low of $19.94 and a 12 month high of $42.29.

Insiders Place Their Bets

In related news, CAO Prerna Sachdeva sold 2,967 shares of Alkami Technology stock in a transaction that occurred on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total transaction of $73,462.92. Following the completion of the transaction, the chief accounting officer directly owned 66,061 shares in the company, valued at $1,635,670.36. The trade was a 4.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO W Bryan Hill sold 20,366 shares of the company’s stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total value of $504,262.16. Following the completion of the sale, the chief financial officer directly owned 409,889 shares in the company, valued at approximately $10,148,851.64. The trade was a 4.73% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders acquired 1,396,162 shares of company stock worth $29,692,440. Insiders own 18.10% of the company’s stock.

Institutional Trading of Alkami Technology

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. boosted its stake in shares of Alkami Technology by 27.6% during the second quarter. Blue Trust Inc. now owns 1,852 shares of the company’s stock valued at $56,000 after acquiring an additional 401 shares during the last quarter. Perkins Coie Trust Co boosted its stake in shares of Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after purchasing an additional 500 shares during the last quarter. Covestor Ltd grew its holdings in shares of Alkami Technology by 18.8% during the first quarter. Covestor Ltd now owns 3,252 shares of the company’s stock worth $85,000 after buying an additional 514 shares in the last quarter. Amundi grew its holdings in shares of Alkami Technology by 1.9% during the first quarter. Amundi now owns 29,040 shares of the company’s stock worth $731,000 after buying an additional 548 shares in the last quarter. Finally, Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 32.4% in the first quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after buying an additional 594 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.