Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells $132,526.78 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 4,358 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares in the company, valued at $7,432,325.64. The trade was a 1.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alkami Technology Price Performance

ALKT traded down $0.73 on Tuesday, reaching $28.84. The company had a trading volume of 1,129,357 shares, compared to its average volume of 586,104. The company has a market capitalization of $2.90 billion, a P/E ratio of -61.36 and a beta of 0.47. 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 company has a fifty day moving average of $34.67 and a 200-day moving average of $35.04. Alkami Technology, Inc. has a one year low of $22.65 and a one year high of $42.29.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. As a group, equities research analysts anticipate that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Hedge Funds Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ALKT. Essex Investment Management Co. LLC bought a new stake in shares of Alkami Technology in the 4th quarter worth $34,000. Advisors Asset Management Inc. grew its holdings in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after acquiring an additional 631 shares during the period. Quarry LP bought a new stake in Alkami Technology in the fourth quarter worth about $61,000. Covestor Ltd raised its position in Alkami Technology by 6,300.0% in the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares in the last quarter. Finally, Neo Ivy Capital Management acquired a new stake in Alkami Technology in the 4th quarter valued at about $96,000. 54.97% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. The Goldman Sachs Group dropped their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, Barclays reduced their price objective on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating for the company in a research report on Monday. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $41.14.

Alkami Technology Company Profile

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.