Alkami Technology (NASDAQ:ALKT) CAO Prerna Sachdeva Sells 1,101 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CAO Prerna Sachdeva sold 1,101 shares of Alkami Technology stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $22,394.34. Following the transaction, the chief accounting officer owned 64,960 shares in the company, valued at approximately $1,321,286.40. This trade represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alkami Technology Price Performance

Shares of Alkami Technology stock traded down $0.19 during trading on Thursday, hitting $20.96. The stock had a trading volume of 50,506 shares, compared to its average volume of 1,239,923. The business has a fifty day moving average of $22.14 and a two-hundred day moving average of $25.18. The firm has a market cap of $2.20 billion, a P/E ratio of -48.97 and a beta of 0.54. Alkami Technology, Inc. has a fifty-two week low of $18.71 and a fifty-two week high of $40.99. The company has a debt-to-equity ratio of 1.08, a current ratio of 2.17 and a quick ratio of 2.17.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, October 30th. The company reported ($0.14) earnings per share for the quarter, missing the consensus estimate of $0.15 by ($0.29). Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. The business had revenue of $112.95 million for the quarter, compared to the consensus estimate of $113.48 million. During the same quarter last year, the business posted ($0.09) EPS. The business’s revenue for the quarter was up 31.5% on a year-over-year basis. On average, sell-side analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Alkami Technology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. General Atlantic L.P. grew its holdings in shares of Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares in the last quarter. Westfield Capital Management Co. LP raised its holdings in shares of Alkami Technology by 160.0% during the third quarter. Westfield Capital Management Co. LP now owns 3,095,058 shares of the company’s stock worth $76,881,000 after acquiring an additional 1,904,474 shares in the last quarter. JANA Partners Management LP acquired a new stake in Alkami Technology during the third quarter valued at $47,008,000. Praesidium Investment Management Company LLC purchased a new position in Alkami Technology in the first quarter valued at about $40,223,000. Finally, Long Path Partners LP increased its position in Alkami Technology by 138.2% in the 3rd quarter. Long Path Partners LP now owns 2,568,823 shares of the company’s stock worth $63,810,000 after purchasing an additional 1,490,357 shares during the last quarter. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Zacks Research lowered Alkami Technology from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, November 4th. Needham & Company LLC decreased their price target on Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Friday, October 31st. Citizens Jmp cut their price objective on Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a report on Friday, October 31st. JPMorgan Chase & Co. decreased their target price on shares of Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Finally, Barclays dropped their target price on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research report on Friday, October 31st. Six 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 stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $36.00.

Alkami Technology Company Profile

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.