Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells $3,631,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 100,000 shares of the stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00. Following the completion of the transaction, the chief financial officer now owns 471,403 shares of the company’s stock, valued at $17,116,642.93. This trade represents a 17.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

W Bryan Hill also recently made the following trade(s):

• On Monday, September 23rd, W Bryan Hill sold 55,046 shares of Alkami Technology stock. The shares were sold at an average price of $31.19, for a total value of $1,716,884.74.
• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The shares were sold at an average price of $31.59, for a total value of $566,629.83.
• On Tuesday, August 27th, W Bryan Hill sold 69,511 shares of Alkami Technology stock. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74.

Alkami Technology Stock Down 0.2 %

Shares of ALKT stock traded down $0.06 on Wednesday, hitting $37.75. 800,206 shares of the stock were exchanged, compared to its average volume of 503,920. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.79 billion, a P/E ratio of -80.45 and a beta of 0.43. The business has a 50-day moving average of $34.54 and a 200 day moving average of $31.37. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $41.36.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ALKT. Driehaus Capital Management LLC increased its stake 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 during the period. Millennium Management LLC increased its stake in Alkami Technology by 124.1% during the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company’s stock worth $14,658,000 after acquiring an additional 284,977 shares during the period. Jacobs Levy Equity Management Inc. bought a new position in Alkami Technology during the 1st quarter worth $5,569,000. Castleark Management LLC bought a new position in Alkami Technology during the 3rd quarter worth $6,050,000. Finally, Loomis Sayles & Co. L P bought a new position in Alkami Technology during the 3rd quarter worth $6,032,000. 54.97% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Lake Street Capital lifted their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. JMP Securities lifted their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Needham & Company LLC lifted their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group lifted their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Finally, Barclays boosted their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

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.