Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) CFO Sells 99,755 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CFO W Bryan Hill sold 99,755 shares of Alkami Technology stock in a transaction dated 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 sale, the chief financial officer now directly owns 371,648 shares of the company’s stock, valued at $15,568,334.72. This trade represents a 21.16 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

W Bryan Hill also recently made the following trade(s):

• On Thursday, November 21st, W Bryan Hill sold 110,250 shares of Alkami Technology stock. The stock was sold at an average price of $38.62, for a total transaction of $4,257,855.00.
• On Monday, November 18th, W Bryan Hill sold 100,000 shares of Alkami Technology stock. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00.
• On Monday, September 23rd, W Bryan Hill sold 55,046 shares of Alkami Technology stock. The stock was sold at an average price of $31.19, for a total transaction of $1,716,884.74.
• On Thursday, September 5th, W Bryan Hill sold 17,937 shares of Alkami Technology stock. The shares were sold at an average price of $31.59, for a total value of $566,629.83.

Alkami Technology Price Performance

ALKT stock opened at $39.28 on Thursday. The stock has a market capitalization of $3.95 billion, a price-to-earnings ratio of -83.57 and a beta of 0.43. The stock’s fifty day simple moving average is $35.52 and its 200-day simple moving average is $31.83. Alkami Technology, Inc. has a 52-week low of $21.19 and a 52-week high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ALKT. The Goldman Sachs Group increased their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays upped their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum raised their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC upped their target price on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, Lake Street Capital raised their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research report on Thursday, August 1st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Institutional Trading of Alkami Technology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALKT. Vanguard Group Inc. raised its position in shares of Alkami Technology by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company’s stock worth $114,264,000 after buying an additional 88,390 shares during the period. Franklin Resources Inc. grew its stake in shares of Alkami Technology by 4.4% during the third quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after acquiring an additional 75,469 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Alkami Technology by 13.0% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock worth $44,719,000 after buying an additional 181,194 shares during the last quarter. FMR LLC increased its position in shares of Alkami Technology by 10.2% in the 3rd quarter. FMR LLC now owns 1,523,747 shares of the company’s stock worth $48,059,000 after purchasing an additional 141,319 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Alkami Technology by 16.4% during the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock valued at $38,865,000 after buying an additional 173,394 shares in the last quarter. Hedge funds and other 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.