Douglas A. Linebarger Sells 4,358 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

Alkami Technology Stock Down 2.5 %

Shares of Alkami Technology stock traded down $0.73 during midday trading on Tuesday, hitting $28.84. The company’s stock had a trading volume of 1,129,357 shares, compared to its average volume of 586,104. Alkami Technology, Inc. has a 1-year low of $22.65 and a 1-year high of $42.29. 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 market capitalization of $2.90 billion, a P/E ratio of -61.36 and a beta of 0.47. The stock has a 50-day simple moving average of $34.67 and a 200-day simple moving average of $35.04.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts’ consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million for the quarter, compared to analyst estimates of $89.63 million. As a group, sell-side analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. US Bancorp DE purchased a new stake in Alkami Technology in the 3rd quarter worth approximately $259,000. Harbor Capital Advisors Inc. increased its stake in shares of Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after acquiring an additional 691 shares during the last quarter. Arlington Capital Management Inc. raised its holdings in shares of Alkami Technology by 3.5% during the third quarter. Arlington Capital Management Inc. now owns 71,005 shares of the company’s stock worth $2,239,000 after acquiring an additional 2,417 shares in the last quarter. Olympiad Research LP purchased a new stake in shares of Alkami Technology during the third quarter worth $429,000. Finally, Principal Financial Group Inc. acquired a new stake in Alkami Technology during the third quarter valued at $875,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ALKT shares. The Goldman Sachs Group decreased their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a report on Monday. Barclays dropped their price target on Alkami Technology from $41.00 to $35.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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. According to MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus price target of $41.14.

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.