Alkami Technology (NASDAQ:ALKT) Trading 5.9% Higher – Time to Buy?

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) traded up 5.9% during mid-day trading on Friday . The company traded as high as $30.77 and last traded at $30.67. 742,288 shares were traded during trading, an increase of 25% from the average session volume of 591,715 shares. The stock had previously closed at $28.96.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. increased their target price on Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Two research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.00.

Alkami Technology Trading Up 6.5 %

The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The business’s fifty day simple moving average is $34.85 and its two-hundred day simple moving average is $35.02. The stock has a market capitalization of $3.10 billion, a P/E ratio of -65.62 and a beta of 0.47.

Alkami Technology (NASDAQ:ALKT) last released its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. As a group, analysts forecast that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO W Bryan Hill sold 100,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the completion of the transaction, the chief financial officer now directly owns 353,841 shares of the company’s stock, valued at approximately $11,828,904.63. This trade represents a 22.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen Bohanon sold 15,491 shares of the firm’s stock in a transaction dated Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total transaction of $594,389.67. Following the transaction, the insider now directly owns 358,204 shares of the company’s stock, valued at $13,744,287.48. The trade was a 4.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 283,298 shares of company stock valued at $10,600,144 over the last ninety days. 25.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. Blue Trust Inc. lifted its position in shares of Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares during the period. US Bancorp DE bought a new position in shares of Alkami Technology during the third quarter valued at $259,000. Harbor Capital Advisors Inc. lifted its holdings in shares of Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after acquiring an additional 691 shares during the period. Arlington Capital Management Inc. lifted its holdings in Alkami Technology by 3.5% during the 3rd quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company’s stock valued at $2,239,000 after purchasing an additional 2,417 shares during the last quarter. Finally, Olympiad Research LP bought a new position in Alkami Technology during the 3rd quarter valued at about $429,000. Institutional investors own 54.97% of the company’s stock.

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.