Alkami Technology (NASDAQ:ALKT) Stock Price Down 3.2%

Alkami Technology, Inc. (NASDAQ:ALKT) was down 3.2% on Wednesday . The stock traded as low as $26.19 and last traded at $26.37. Approximately 74,641 shares changed hands during trading, a decline of 79% from the average daily volume of 362,485 shares. The stock had previously closed at $27.24.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ALKT shares. Barclays upped their target price on Alkami Technology from $26.00 to $27.00 and gave the stock an “equal weight” rating in a research note on Thursday, February 29th. Craig Hallum upped their price target on shares of Alkami Technology from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Thursday, May 2nd. TheStreet upgraded shares of Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. William Blair reiterated an “outperform” rating on shares of Alkami Technology in a report on Thursday, February 29th. Finally, JMP Securities reiterated a “market outperform” rating and set a $30.00 price target on shares of Alkami Technology in a report on Monday, April 15th. Three research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.90.

Alkami Technology Stock Down 0.6 %

The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.06. The firm has a market cap of $2.64 billion, a P/E ratio of -43.80 and a beta of 0.46. The stock’s 50-day simple moving average is $25.52 and its 200 day simple moving average is $24.63.

Alkami Technology (NASDAQ:ALKT) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts’ consensus estimates of $0.02 by $0.03. The business had revenue of $76.10 million for the quarter, compared to analysts’ expectations of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. As a group, research analysts forecast that Alkami Technology, Inc. will post -0.38 EPS for the current fiscal year.

Insider Transactions at Alkami Technology

In other news, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the transaction, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Douglas A. Linebarger sold 33,593 shares of the stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $23.59, for a total transaction of $792,458.87. Following the transaction, the insider now owns 262,749 shares of the company’s stock, valued at approximately $6,198,248.91. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO W Bryan Hill sold 50,089 shares of the stock in a transaction dated Friday, March 8th. The stock was sold at an average price of $23.91, for a total transaction of $1,197,627.99. Following the transaction, the chief financial officer now directly owns 508,501 shares in the company, valued at approximately $12,158,258.91. The disclosure for this sale can be found here. Insiders have sold 1,839,035 shares of company stock valued at $48,732,457 in the last 90 days. 38.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Alkami Technology

Several large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. bought a new position in Alkami Technology in the 1st quarter valued at about $5,569,000. Silvercrest Asset Management Group LLC increased its stake in Alkami Technology by 4.5% in the 1st quarter. Silvercrest Asset Management Group LLC now owns 330,230 shares of the company’s stock valued at $8,114,000 after buying an additional 14,316 shares during the last quarter. Public Employees Retirement System of Ohio purchased a new stake in Alkami Technology in the 1st quarter valued at about $1,840,000. Price T Rowe Associates Inc. MD increased its stake in Alkami Technology by 14.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,502 shares of the company’s stock valued at $283,000 after buying an additional 1,460 shares during the last quarter. Finally, MQS Management LLC purchased a new stake in Alkami Technology in the 1st quarter valued at about $237,000. Institutional investors own 54.97% of the company’s stock.

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.