Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells $51,950,010.39 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 1,666,667 shares of Alkami Technology stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total transaction of $51,950,010.39. Following the transaction, the director now directly owns 15,555,049 shares of the company’s stock, valued at $484,850,877.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Alkami Technology Stock Down 1.9 %

Shares of NASDAQ:ALKT opened at $30.45 on Thursday. The business’s 50 day moving average is $29.94 and its 200 day moving average is $26.84. The stock has a market cap of $2.97 billion, a P/E ratio of -50.75 and a beta of 0.47. Alkami Technology, Inc. has a 52-week low of $14.93 and a 52-week high of $36.00. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Wednesday, July 31st. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.02. The business had revenue of $82.16 million during the quarter, compared to analysts’ expectations of $81.32 million. Alkami Technology had a negative return on equity of 13.47% and a negative net margin of 17.47%. The business’s revenue for the quarter was up 24.9% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.17) EPS. Sell-side analysts predict that Alkami Technology, Inc. will post -0.38 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ALKT. Swiss National Bank lifted its position in shares of Alkami Technology by 1.3% in the 1st quarter. Swiss National Bank now owns 84,700 shares of the company’s stock worth $2,081,000 after purchasing an additional 1,100 shares during the period. NBC Securities Inc. increased its holdings in Alkami Technology by 61.6% during the first quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock valued at $71,000 after buying an additional 1,102 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Alkami Technology by 14.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock worth $283,000 after buying an additional 1,460 shares in the last quarter. Arizona State Retirement System lifted its holdings in Alkami Technology by 14.8% during the second quarter. Arizona State Retirement System now owns 13,543 shares of the company’s stock worth $386,000 after buying an additional 1,750 shares during the period. Finally, Blair William & Co. IL boosted its position in Alkami Technology by 15.8% during the 2nd quarter. Blair William & Co. IL now owns 18,705 shares of the company’s stock valued at $533,000 after acquiring an additional 2,550 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analysts Set New Price Targets

ALKT has been the subject of several analyst reports. Craig Hallum raised their target price on shares of Alkami Technology from $31.00 to $38.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. The Goldman Sachs Group boosted their target price on Alkami Technology from $28.00 to $34.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Barclays increased their price target on Alkami Technology from $31.00 to $35.00 and gave the stock an “equal weight” rating in a report on Thursday, August 1st. Needham & Company LLC boosted their price objective on Alkami Technology from $32.00 to $43.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Finally, Lake Street Capital increased their target price on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and an average target price of $33.89.

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.