Alkami Technology, Inc. (NASDAQ:ALKT) Receives Consensus Recommendation of “Hold” from Brokerages

Alkami Technology, Inc. (NASDAQ:ALKT) has received a consensus recommendation of “Hold” from the eight analysts that are presently covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $26.6667.

A number of analysts have recently commented on the stock. Barclays reduced their price target on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a research note on Thursday, February 26th. JPMorgan Chase & Co. cut their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research report on Wednesday, February 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Needham & Company LLC dropped their price target on Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. Finally, Citizens Jmp cut their price objective on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, February 26th.

Alkami Technology Stock Down 2.9%

Shares of NASDAQ:ALKT traded down $0.47 during trading on Friday, reaching $15.73. 110,747 shares of the stock traded hands, compared to its average volume of 2,038,694. The stock has a market cap of $1.67 billion, a P/E ratio of -34.05 and a beta of 0.57. The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09. The stock has a 50-day moving average of $17.79 and a two-hundred day moving average of $21.01. Alkami Technology has a 52-week low of $14.11 and a 52-week high of $31.66.

Insider Buying and Selling

In other news, Director Atlantic L.P. General purchased 900,000 shares of the stock in a transaction on Wednesday, March 11th. The shares were acquired at an average price of $18.41 per share, with a total value of $16,569,000.00. Following the completion of the acquisition, the director directly owned 14,879,451 shares of the company’s stock, valued at $273,930,692.91. This trade represents a 6.44% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Cassandra Hudson sold 6,869 shares of the firm’s stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $16.90, for a total transaction of $116,086.10. Following the sale, the chief financial officer owned 286,757 shares in the company, valued at $4,846,193.30. The trade was a 2.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders bought 3,351,515 shares of company stock worth $59,829,413 and sold 13,739 shares worth $232,189. 18.10% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in ALKT. First Horizon Corp purchased a new stake in Alkami Technology during the third quarter valued at approximately $30,000. Smartleaf Asset Management LLC boosted its holdings in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after acquiring an additional 692 shares during the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Alkami Technology by 398.3% in the second quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after purchasing an additional 916 shares during the last quarter. Global Retirement Partners LLC purchased a new stake in Alkami Technology in the 4th quarter worth approximately $37,000. Finally, AlphaQuest LLC raised its position in shares of Alkami Technology by 54.5% in the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock worth $38,000 after acquiring an additional 544 shares during the period. Hedge funds and other institutional investors own 54.97% of the company’s stock.

About Alkami Technology

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.