Atlantic L.P. General Sells 2,500,000 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Atlantic L.P. General sold 2,500,000 shares of the company's stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $37.50, for a total value of $93,750,000.00. Following the transaction, the director now directly owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Alkami Technology Stock Performance

Shares of ALKT traded up $0.11 during mid-day trading on Friday, hitting $37.87. The stock had a trading volume of 2,072,507 shares, compared to its average volume of 659,726. Alkami Technology, Inc. has a 52 week low of $20.38 and a 52 week high of $41.36. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The business has a fifty day moving average price of $33.65 and a 200-day moving average price of $30.68.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their target price on Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Craig Hallum upped their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. JMP Securities raised their price objective on Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a research note on Tuesday, October 29th. Finally, Lake Street Capital upped their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a "buy" rating in a research note on Thursday, August 1st. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Alkami Technology currently 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 modified their holdings of the business. Park Place Capital Corp purchased a new position in Alkami Technology during the 3rd quarter valued at about $28,000. Advisors Asset Management Inc. grew its stake in Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after acquiring an additional 631 shares in the last quarter. Blue Trust Inc. grew its stake in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after acquiring an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Alkami Technology in the 2nd quarter worth approximately $40,000. Finally, Perkins Coie Trust Co bought a new position in Alkami Technology in the 2nd quarter valued at $85,000. Institutional investors own 54.97% of the company's stock.

About Alkami Technology

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.