Alkami Technology (NASDAQ:ALKT) Trading Up 7% – Here’s What Happened

Alkami Technology, Inc. (NASDAQ:ALKT) traded up 7% during trading on Friday . The company traded as high as $16.59 and last traded at $16.7210. 1,080,659 shares changed hands during mid-day trading, a decline of 47% from the average session volume of 2,043,048 shares. The stock had previously closed at $15.63.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Barclays cut their target price on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research report on Thursday. Needham & Company LLC cut their price objective on Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday. JPMorgan Chase & Co. lowered their target price on Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a report on Wednesday, February 18th. Citizens Jmp dropped their price target on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research report on Thursday. Finally, The Goldman Sachs Group reduced their price objective on Alkami Technology from $29.00 to $26.00 and set a “neutral” rating on the stock in a research report on Friday, October 31st. Five investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, Alkami Technology presently has an average rating of “Hold” and an average target price of $28.57.

Alkami Technology Price Performance

The company has a market capitalization of $1.74 billion, a price-to-earnings ratio of -36.00 and a beta of 0.53. The company has a fifty day simple moving average of $20.04 and a two-hundred day simple moving average of $21.95. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17.

Insiders Place Their Bets

In related news, insider Douglas A. Linebarger sold 8,179 shares of the stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total transaction of $166,360.86. Following the transaction, the insider directly owned 221,751 shares in the company, valued at approximately $4,510,415.34. This represents a 3.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 18.10% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ALKT. CWM LLC grew its holdings in Alkami Technology by 176.2% in the second quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after purchasing an additional 601 shares during the period. First Horizon Corp acquired a new position in shares of Alkami Technology in the 3rd quarter valued at $30,000. Smartleaf Asset Management LLC grew its stake in shares of Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after buying an additional 692 shares during the period. EverSource Wealth Advisors LLC grew its stake in shares of Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after buying an additional 916 shares during the period. Finally, Global Retirement Partners LLC acquired a new stake in shares of Alkami Technology during the 4th quarter worth $37,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.