Alkami Technology (NASDAQ:ALKT) Shares Down 7.1% – What’s Next?

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) dropped 7.1% on Monday . The company traded as low as $15.86 and last traded at $15.8150. Approximately 141,711 shares changed hands during mid-day trading, a decline of 92% from the average daily volume of 1,798,596 shares. The stock had previously closed at $17.03.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Zacks Research cut shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research note on Wednesday, February 18th. Needham & Company LLC decreased their price target on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Finally, Citizens Jmp restated a “market outperform” rating and issued a $40.00 price objective on shares of Alkami Technology in a report on Thursday, January 29th. Five analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $32.29.

Alkami Technology Stock Performance

The company has a market capitalization of $1.62 billion, a P/E ratio of -36.01 and a beta of 0.53. The company’s 50 day moving average is $20.55 and its 200-day moving average is $22.11. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08.

Insider Activity

In other news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the completion of the transaction, the insider directly owned 221,751 shares in the company, valued at approximately $4,510,415.34. This trade represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 18.10% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Institutional investors and hedge funds have recently modified their holdings of the stock. General Atlantic L.P. boosted its stake in Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock worth $297,868,000 after purchasing an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. raised its holdings in Alkami Technology by 5.7% in the fourth quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock worth $194,121,000 after buying an additional 456,275 shares during the last quarter. Westfield Capital Management Co. LP lifted its stake in shares of Alkami Technology by 33.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock worth $95,010,000 after buying an additional 1,023,297 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in shares of Alkami Technology by 56.3% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock worth $96,202,000 after buying an additional 1,394,617 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in Alkami Technology by 13.3% in the 3rd quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock worth $91,405,000 after acquiring an additional 430,632 shares during the last quarter. 54.97% of the stock is currently owned by institutional investors.

About Alkami Technology

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.