Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General Sells 1,542,821 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total value of $40,931,041.13. Following the completion of the transaction, the director now directly owns 17,186,985 shares in the company, valued at $455,970,712.05. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Alkami Technology Stock Performance

Shares of ALKT stock opened at $26.37 on Friday. The company’s fifty day moving average price is $24.26 and its two-hundred day moving average price is $23.65. The company has a debt-to-equity ratio of 0.06, a current ratio of 3.92 and a quick ratio of 3.92. The firm has a market capitalization of $2.57 billion, a P/E ratio of -43.95 and a beta of 0.40. Alkami Technology, Inc. has a 12 month low of $12.53 and a 12 month high of $27.94.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. Alkami Technology had a negative return on equity of 15.31% and a negative net margin of 20.42%. The firm had revenue of $76.10 million during the quarter, compared to the consensus estimate of $75.57 million. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Alkami Technology’s revenue for the quarter was up 26.8% on a year-over-year basis. On average, research analysts anticipate that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently modified their holdings of ALKT. Capital International Investors boosted its holdings in Alkami Technology by 15.6% in the fourth quarter. Capital International Investors now owns 4,679,907 shares of the company’s stock worth $113,488,000 after purchasing an additional 632,061 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Alkami Technology by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 4,562,170 shares of the company’s stock valued at $110,633,000 after buying an additional 267,336 shares during the period. Massachusetts Financial Services Co. MA grew its position in shares of Alkami Technology by 10.7% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company’s stock valued at $40,900,000 after buying an additional 217,123 shares during the last quarter. Wasatch Advisors LP acquired a new stake in Alkami Technology during the first quarter worth about $37,178,000. Finally, FMR LLC lifted its holdings in Alkami Technology by 1.8% in the third quarter. FMR LLC now owns 1,182,327 shares of the company’s stock worth $21,542,000 after acquiring an additional 21,086 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the company. The Goldman Sachs Group lowered Alkami Technology from a “buy” rating to a “neutral” rating and upped their price target for the stock from $23.00 to $27.00 in a research note on Tuesday, January 23rd. TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. boosted their price objective on shares of Alkami Technology from $27.00 to $31.00 and gave the stock an “overweight” rating in a research note on Thursday, February 29th. Craig Hallum raised their target price on shares of Alkami Technology from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Finally, Needham & Company LLC upped their price target on shares of Alkami Technology from $30.00 to $32.00 and gave the stock a “buy” rating in a research report on Thursday, May 2nd. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Alkami Technology has an average rating of “Moderate Buy” and a consensus target price of $26.90.

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.