W Bryan Hill Sells 17,409 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 17,409 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the transaction, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at $13,703,354.20. The trade was a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, January 13th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The stock was sold at an average price of $33.43, for a total value of $3,343,000.00.
• On Monday, December 16th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00.

Alkami Technology Trading Down 2.5 %

Alkami Technology stock traded down $0.73 during midday trading on Tuesday, hitting $28.84. 1,129,357 shares of the stock were exchanged, compared to its average volume of 586,104. 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 stock’s 50-day simple moving average is $34.67 and its 200 day simple moving average is $35.04. Alkami Technology, Inc. has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The stock has a market capitalization of $2.90 billion, a price-to-earnings ratio of -61.36 and a beta of 0.47.

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

Institutional Investors Weigh In On Alkami Technology

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

Analyst Upgrades and Downgrades

ALKT has been the subject of a number of recent research reports. The Goldman Sachs Group reduced their target price on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday. JPMorgan Chase & Co. increased their price objective on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Barclays decreased their target price on shares of Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $41.14.

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.