Insider Selling: Alkami Technology (NASDAQ:ALKT) Insider Sells 8,179 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) insider Douglas Linebarger sold 8,179 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total transaction of $166,360.86. Following the completion of the transaction, the insider directly owned 221,751 shares of the company’s stock, valued at approximately $4,510,415.34. The trade was a 3.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Alkami Technology Price Performance

Shares of NASDAQ ALKT traded up $0.90 during midday trading on Wednesday, reaching $21.15. 1,748,919 shares of the company were exchanged, compared to its average volume of 1,245,130. The stock’s 50-day moving average price is $22.23 and its 200-day moving average price is $25.21. The stock has a market cap of $2.22 billion, a P/E ratio of -49.19 and a beta of 0.54. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08. Alkami Technology, Inc. has a one year low of $18.71 and a one year high of $40.99.

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

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC grew its stake in shares of Alkami Technology by 176.2% in 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. First Horizon Corp bought a new position in Alkami Technology in the third quarter worth approximately $30,000. EverSource Wealth Advisors LLC grew its stake in Alkami Technology by 398.3% in 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 period. AlphaQuest LLC increased its holdings in shares of Alkami Technology by 54.5% during the third quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after acquiring an additional 544 shares in the last quarter. Finally, Assetmark Inc. acquired a new position in shares of Alkami Technology during the second quarter worth approximately $44,000. 54.97% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ALKT shares. Citizens Jmp dropped their price target on shares of Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating for the company in a research note on Friday, October 31st. Needham & Company LLC decreased their price objective on Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a report on Friday, October 31st. JPMorgan Chase & Co. reduced their price target on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Zacks Research downgraded Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, Barclays reduced their target price on Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. Six analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alkami Technology has an average rating of “Moderate Buy” and an average 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.