Alkami Technology, Inc. (NASDAQ:ALKT) Insider Douglas A. Linebarger Sells 50,000 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 50,000 shares of Alkami Technology stock in a transaction on Thursday, December 12th. The stock was sold at an average price of $40.05, for a total transaction of $2,002,500.00. Following the completion of the transaction, the insider now directly owns 191,668 shares in the company, valued at approximately $7,676,303.40. The trade was a 20.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alkami Technology Trading Down 0.8 %

NASDAQ ALKT opened at $39.61 on Friday. The firm has a market capitalization of $3.98 billion, a PE ratio of -84.28 and a beta of 0.46. The stock’s 50 day moving average is $37.54 and its 200 day moving average is $32.89. Alkami Technology, Inc. has a twelve month low of $22.62 and a twelve month high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Institutional Trading of Alkami Technology

A number of hedge funds have recently modified their holdings of ALKT. Price T Rowe Associates Inc. MD increased its stake in shares of Alkami Technology by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after acquiring an additional 1,460 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Alkami Technology by 45.8% during the second quarter. Bank of New York Mellon Corp now owns 173,294 shares of the company’s stock valued at $4,935,000 after purchasing an additional 54,453 shares in the last quarter. nVerses Capital LLC purchased a new position in shares of Alkami Technology during the second quarter valued at approximately $88,000. Rhumbline Advisers boosted its position in shares of Alkami Technology by 11.2% in the 2nd quarter. Rhumbline Advisers now owns 68,658 shares of the company’s stock worth $1,955,000 after purchasing an additional 6,928 shares in the last quarter. Finally, Hodges Capital Management Inc. grew its stake in shares of Alkami Technology by 24.0% in the 2nd quarter. Hodges Capital Management Inc. now owns 211,500 shares of the company’s stock worth $6,024,000 after buying an additional 40,949 shares during the last quarter. Institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALKT. Craig Hallum boosted their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Barclays upped their price target on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Needham & Company LLC increased 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. JPMorgan Chase & Co. boosted their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Finally, JMP Securities raised their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. Two investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus target price of $40.88.

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.