Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Update

Alkami Technology, Inc. (NASDAQ:ALKT) was the recipient of a significant growth in short interest in January. As of January 15th, there was short interest totalling 1,450,000 shares, a growth of 26.1% from the December 31st total of 1,150,000 shares. Based on an average daily trading volume, of 849,500 shares, the short-interest ratio is presently 1.7 days. Currently, 2.3% of the company’s stock are sold short.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 5,239 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total value of $199,186.78. Following the transaction, the insider now directly owns 248,585 shares of the company’s stock, valued at approximately $9,451,201.70. This trade represents a 2.06 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the transaction, the director now directly owns 9,680,049 shares in the company, valued at $384,781,947.75. The trade was a 23.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,517,380 shares of company stock valued at $251,616,935. Corporate insiders own 38.00% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Large investors have recently modified their holdings of the business. Park Place Capital Corp purchased a new position in shares of Alkami Technology in the third quarter worth about $28,000. Advisors Asset Management Inc. increased its stake in shares of Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new position in Alkami Technology during the second quarter valued at approximately $40,000. Finally, Covestor Ltd grew its stake in Alkami Technology by 6,300.0% during the third quarter. Covestor Ltd now owns 2,688 shares of the company’s stock valued at $85,000 after acquiring an additional 2,646 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on ALKT shares. The Goldman Sachs Group raised their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Needham & Company LLC lifted their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays lifted their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Finally, Craig Hallum lifted their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

Alkami Technology Price Performance

ALKT opened at $36.07 on Friday. The company has a market capitalization of $3.63 billion, a price-to-earnings ratio of -76.74 and a beta of 0.48. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm has a 50-day moving average price of $37.58 and a 200-day moving average price of $34.95. Alkami Technology has a twelve month low of $22.65 and a twelve month high of $42.29.

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.