Insider Selling: Alkami Technology (NASDAQ:ALKT) CAO Sells 1,352 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CAO Prerna Sachdeva sold 1,352 shares of the company’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total transaction of $22,848.80. Following the sale, the chief accounting officer owned 63,608 shares in the company, valued at $1,074,975.20. The trade was a 2.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

Alkami Technology Stock Down 2.7%

Shares of Alkami Technology stock traded down $0.45 during trading on Wednesday, hitting $16.49. 2,092,407 shares of the stock were exchanged, compared to its average volume of 2,460,528. Alkami Technology, Inc. has a 12-month low of $14.11 and a 12-month high of $31.66. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -35.85 and a beta of 0.57. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. The firm’s 50-day moving average price is $19.54 and its 200 day moving average price is $21.80.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC grew its position in Alkami Technology by 176.2% during the second quarter. CWM LLC now owns 942 shares of the company’s stock worth $28,000 after buying an additional 601 shares during the period. First Horizon Corp purchased a new stake in Alkami Technology in the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC increased its stake in shares of Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after acquiring an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock worth $35,000 after acquiring an additional 916 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of Alkami Technology in the fourth quarter worth approximately $37,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALKT. Zacks Research lowered shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Citizens Jmp lowered their price objective on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a research report on Thursday, February 26th. Needham & Company LLC reduced their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Finally, JPMorgan Chase & Co. lowered their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $28.57.

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.