Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Major Shareholder Sells $51,949,979.22 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) major shareholder George B. Kaiser sold 1,666,666 shares of the stock in a transaction on Monday, August 12th. The stock was sold at an average price of $31.17, for a total value of $51,949,979.22. Following the sale, the insider now owns 8,419,784 shares in the company, valued at approximately $262,444,667.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Alkami Technology Price Performance

Shares of NASDAQ:ALKT opened at $31.33 on Friday. Alkami Technology, Inc. has a one year low of $14.93 and a one year high of $36.00. 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 $3.06 billion, a price-to-earnings ratio of -52.22 and a beta of 0.47. The company’s fifty day moving average price is $30.03 and its 200-day moving average price is $26.88.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Wednesday, July 31st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.03 by $0.02. Alkami Technology had a negative return on equity of 13.47% and a negative net margin of 17.47%. The business had revenue of $82.16 million for the quarter, compared to analysts’ expectations of $81.32 million. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. The firm’s revenue was up 24.9% on a year-over-year basis. On average, equities research analysts anticipate that Alkami Technology, Inc. will post -0.38 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently modified their holdings of the company. NBC Securities Inc. bought a new position in Alkami Technology during the fourth quarter valued at approximately $43,000. Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology in the 2nd quarter valued at $85,000. nVerses Capital LLC bought a new position in shares of Alkami Technology during the 2nd quarter valued at $88,000. Quest Partners LLC purchased a new position in Alkami Technology in the 4th quarter worth $113,000. Finally, Acadian Asset Management LLC bought a new stake in Alkami Technology in the first quarter worth $140,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALKT has been the topic of a number of analyst reports. Craig Hallum boosted their price objective on Alkami Technology from $31.00 to $38.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. The Goldman Sachs Group upped their price target 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 raised their price objective on shares of Alkami Technology from $31.00 to $35.00 and gave the company an “equal weight” rating in a research report on Thursday, August 1st. Lake Street Capital upped their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. Finally, Needham & Company LLC increased their target price on shares of Alkami Technology from $32.00 to $43.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.