Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $43.00

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has been given a consensus recommendation of "Moderate Buy" by the eight analysts that are presently covering the stock, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $43.00.

Several equities analysts have commented on the stock. Needham & Company LLC raised their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Barclays lifted their price target on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. lifted their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research note on Monday, December 9th. The Goldman Sachs Group lifted their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Finally, JMP Securities lifted their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a research note on Tuesday, October 29th.

Alkami Technology Price Performance

ALKT stock traded up $0.30 during mid-day trading on Friday, reaching $35.52. The company's stock had a trading volume of 544,315 shares, compared to its average volume of 513,803. The stock has a market cap of $3.57 billion, a PE ratio of -75.57 and a beta of 0.48. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology has a fifty-two week low of $22.65 and a fifty-two week high of $42.29. The company's 50 day moving average is $37.90 and its two-hundred day moving average is $34.62.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00. Following the sale, the chief financial officer now owns 471,403 shares of the company's stock, valued at $17,116,642.93. This trade represents a 17.50 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $37.50, for a total transaction of $93,750,000.00. Following the completion of the sale, the director now directly owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. This trade represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 6,517,380 shares of company stock valued at $251,616,935 over the last ninety days. Corporate insiders own 25.90% of the company's stock.

Institutional Trading of Alkami Technology

A number of large investors have recently modified their holdings of ALKT. Driehaus Capital Management LLC increased its holdings in shares of Alkami Technology by 56.2% in the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company's stock worth $31,080,000 after acquiring an additional 392,483 shares during the period. JPMorgan Chase & Co. grew its position in Alkami Technology by 474.5% in the 3rd quarter. JPMorgan Chase & Co. now owns 379,542 shares of the company's stock valued at $11,971,000 after buying an additional 313,478 shares in the last quarter. Millennium Management LLC grew its position in Alkami Technology by 124.1% in the 2nd quarter. Millennium Management LLC now owns 514,677 shares of the company's stock valued at $14,658,000 after buying an additional 284,977 shares in the last quarter. Castleark Management LLC bought a new position in Alkami Technology in the 3rd quarter valued at about $6,050,000. Finally, Loomis Sayles & Co. L P bought a new position in Alkami Technology in the 3rd quarter valued at about $6,032,000. 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.