Alkami Technology (NASDAQ:ALKT) Director Buys $100,265.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Joseph Payne acquired 5,500 shares of the business’s stock in a transaction on Wednesday, March 11th. The stock was bought at an average cost of $18.23 per share, for a total transaction of $100,265.00. Following the completion of the transaction, the director directly owned 26,628 shares of the company’s stock, valued at $485,428.44. This trade represents a 26.03% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

Alkami Technology Stock Down 0.4%

Shares of NASDAQ ALKT traded down $0.07 on Friday, hitting $18.00. The company had a trading volume of 1,283,683 shares, compared to its average volume of 2,753,136. The company has a quick ratio of 2.09, a current 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 firm has a market capitalization of $1.91 billion, a P/E ratio of -39.13 and a beta of 0.57. The business has a 50 day moving average of $18.78 and a two-hundred day moving average of $21.53.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ALKT shares. Citizens Jmp lowered their price objective on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a research report on Thursday, February 26th. JPMorgan Chase & Co. reduced their target price on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a research note on Wednesday, January 21st. Barclays lowered 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 report on Thursday, February 26th. Finally, Needham & Company LLC cut their price objective on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, February 26th. Four 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, the company has an average rating of “Hold” and an average target price of $26.67.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently made changes to their positions in the business. AlphaQuest LLC increased its stake 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 buying an additional 544 shares during the last quarter. Amundi raised its holdings in Alkami Technology by 1.9% in the first quarter. Amundi now owns 29,040 shares of the company’s stock valued at $731,000 after acquiring an additional 548 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in Alkami Technology by 32.4% during the 1st quarter. Advisors Asset Management Inc. now owns 2,425 shares of the company’s stock valued at $64,000 after acquiring an additional 594 shares during the last quarter. Legal & General Group Plc grew its holdings in Alkami Technology by 0.8% during the 3rd quarter. Legal & General Group Plc now owns 85,071 shares of the company’s stock worth $2,113,000 after acquiring an additional 691 shares in the last quarter. Finally, Smartleaf Asset Management LLC increased its position 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 worth $34,000 after purchasing an additional 692 shares during the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.