Alkami Technology (NASDAQ:ALKT) Trading Down 5.1% – Should You Sell?

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price was down 5.1% on Monday . The stock traded as low as $36.11 and last traded at $36.58. Approximately 603,997 shares changed hands during trading, an increase of 11% from the average daily volume of 545,008 shares. The stock had previously closed at $38.53.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. JMP Securities increased their price target on Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. The Goldman Sachs Group raised their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Barclays boosted their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Craig Hallum boosted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Finally, JPMorgan Chase & Co. raised their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $40.88.

Alkami Technology Price Performance

The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of -78.04 and a beta of 0.46. The stock has a 50 day moving average price of $38.53 and a two-hundred day moving average price of $33.90.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 99,755 shares of Alkami Technology stock in a transaction on Monday, November 25th. The stock was sold at an average price of $41.89, for a total value of $4,178,736.95. Following the completion of the transaction, the chief financial officer now directly owns 371,648 shares in the company, valued at approximately $15,568,334.72. This trade represents a 21.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the completion of the transaction, the director now owns 12,680,049 shares of the company’s stock, valued at $475,501,837.50. This represents a 2.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,417,380 shares of company stock valued at $248,273,935 in the last three months. 38.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. nVerses Capital LLC boosted its holdings in Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after buying an additional 631 shares in the last quarter. Harbor Capital Advisors Inc. grew its position in shares of Alkami Technology by 12.7% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after buying an additional 691 shares during the last quarter. Park Place Capital Corp acquired a new stake in Alkami Technology during the 3rd quarter worth $28,000. Finally, Blue Trust Inc. raised its stake in Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares in the last quarter. Institutional investors and hedge funds 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.