Alkami Technology (NASDAQ:ALKT) Stock Price Down 7.1% – Time to Sell?

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) dropped 7.1% during mid-day trading on Monday . The company traded as low as $15.86 and last traded at $15.8150. Approximately 141,711 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 1,798,596 shares. The stock had previously closed at $17.03.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citizens Jmp restated a “market outperform” rating and set a $40.00 target price on shares of Alkami Technology in a research report on Thursday, January 29th. Barclays cut their price objective on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating for the company in a report on Friday, October 31st. Zacks Research lowered shares of Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. The Goldman Sachs Group cut their price target on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a research note on Friday, October 31st. Finally, Needham & Company LLC lowered their price objective on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating on the stock in a research report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $32.29.

Alkami Technology Stock Performance

The company has a market cap of $1.62 billion, a P/E ratio of -36.01 and a beta of 0.53. The company’s fifty day moving average is $20.55 and its 200 day moving average is $22.11. The company has a current ratio of 2.17, a quick ratio of 2.17 and a debt-to-equity ratio of 1.08.

Insider Transactions at Alkami Technology

In other Alkami Technology news, insider Douglas A. Linebarger sold 8,179 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $20.34, for a total value of $166,360.86. Following the transaction, the insider directly owned 221,751 shares of the company’s stock, valued at $4,510,415.34. The trade was a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in ALKT. CWM LLC boosted its position in Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company’s stock valued at $28,000 after buying an additional 601 shares during the period. EverSource Wealth Advisors LLC raised its stake in shares of 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 acquiring an additional 916 shares during the last quarter. First Horizon Corp bought a new stake in shares of Alkami Technology in the third quarter worth about $30,000. Assetmark Inc. bought a new stake in shares of Alkami Technology in the second quarter worth about $44,000. Finally, Smartleaf Asset Management LLC increased its holdings in Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares during the period. 54.97% of the stock is 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.