Alkami Technology (NASDAQ:ALKT) CFO Cassandra Hudson Sells 6,869 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) CFO Cassandra Hudson sold 6,869 shares of Alkami Technology stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total transaction of $116,086.10. Following the transaction, the chief financial officer directly owned 286,757 shares of the company’s stock, valued at $4,846,193.30. This represents a 2.34% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Alkami Technology Trading Up 1.5%

ALKT traded up $0.25 during trading on Thursday, reaching $16.74. 728,248 shares of the stock traded hands, compared to its average volume of 2,086,225. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.01. The stock’s 50-day moving average is $19.54 and its 200 day moving average is $21.80. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.66. The stock has a market capitalization of $1.78 billion, a PE ratio of -36.39 and a beta of 0.57.

Institutional Investors Weigh In On Alkami Technology

Several institutional investors have recently added to or reduced their stakes in ALKT. CWM LLC boosted its stake in shares of Alkami Technology by 176.2% in the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after purchasing an additional 601 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in Alkami Technology by 398.3% during the second 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. First Horizon Corp bought a new position in shares of Alkami Technology during the third quarter valued at about $30,000. Assetmark Inc. purchased a new position in shares of Alkami Technology in the second quarter worth about $44,000. Finally, Smartleaf Asset Management LLC lifted its stake 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. 54.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALKT shares. Citizens Jmp cut their price target on Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating on the stock in a report on Thursday, February 26th. Needham & Company LLC cut their target price on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, February 26th. JPMorgan Chase & Co. decreased their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a research note on Wednesday, February 18th. Barclays dropped their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating on the stock in a report on Thursday, February 26th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Alkami Technology presently has an average rating of “Hold” and an average price target of $28.57.

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.