Joseph Payne Buys 5,500 Shares of Alkami Technology (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Joseph Payne purchased 5,500 shares of the business’s stock in a transaction that occurred on Wednesday, March 11th. The shares were bought at an average price of $18.23 per share, for a total transaction of $100,265.00. Following the completion of the purchase, the director directly owned 26,628 shares in the company, valued at $485,428.44. This represents a 26.03% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Alkami Technology Price Performance

Shares of ALKT opened at $18.00 on Friday. The company has a debt-to-equity ratio of 1.01, a current ratio of 2.09 and a quick ratio of 2.09. Alkami Technology, Inc. has a 1-year low of $14.11 and a 1-year high of $31.66. The stock has a market cap of $1.91 billion, a PE ratio of -39.13 and a beta of 0.57. The firm has a fifty day moving average price of $18.78 and a 200 day moving average price of $21.51.

Hedge Funds Weigh In On Alkami Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after acquiring an additional 916 shares during the period. First Horizon Corp acquired a new stake in Alkami Technology during the 3rd quarter worth approximately $30,000. Smartleaf Asset Management LLC grew its stake in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares during the last quarter. AlphaQuest LLC increased its holdings in shares of Alkami Technology by 54.5% in the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after purchasing an additional 544 shares during the period. Finally, Global Retirement Partners LLC acquired a new position in shares of Alkami Technology in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALKT. Weiss Ratings reissued a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. JPMorgan Chase & Co. cut their price target on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Needham & Company LLC decreased their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, February 26th. Barclays lowered their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 26th. Finally, Citizens Jmp cut their target price on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a report on Thursday, February 26th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $26.67.

Alkami Technology Company Profile

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.