Insider Selling: Alkami Technology (NASDAQ:ALKT) Insider Sells $93,254.20 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas Linebarger sold 5,518 shares of the business’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $16.90, for a total value of $93,254.20. Following the sale, the insider owned 216,233 shares of the company’s stock, valued at approximately $3,654,337.70. This represents a 2.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Alkami Technology Price Performance

Alkami Technology stock opened at $17.06 on Friday. The company has a market capitalization of $1.81 billion, a price-to-earnings ratio of -37.09 and a beta of 0.57. The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01. Alkami Technology, Inc. has a 12 month low of $14.11 and a 12 month high of $31.66. The stock’s 50 day moving average is $19.28 and its 200-day moving average is $21.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. General Atlantic L.P. increased its holdings in Alkami Technology by 24.3% in the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after buying an additional 2,346,162 shares during the period. Irenic Capital Management LP acquired a new stake in shares of Alkami Technology during the 4th quarter worth approximately $48,596,000. North Reef Capital Management LP increased its stake in Alkami Technology by 1,545.7% in the fourth quarter. North Reef Capital Management LP now owns 2,100,000 shares of the company’s stock valued at $48,447,000 after acquiring an additional 1,972,396 shares during the last quarter. Westfield Capital Management Co. LP increased its stake in Alkami Technology by 160.0% in the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock valued at $76,881,000 after acquiring an additional 1,904,474 shares during the last quarter. Finally, JANA Partners Management LP bought a new stake in Alkami Technology during the third quarter worth $47,008,000. Institutional investors and hedge funds own 54.97% of the company’s stock.

Analyst Ratings Changes

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

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.