Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) insider Douglas A. Linebarger sold 4,358 shares of the firm's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $30.41, for a total value of $132,526.78. Following the completion of the sale, the insider now directly owns 244,404 shares of the company's stock, valued at approximately $7,432,325.64. This represents a 1.75 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link.
Alkami Technology Stock Performance
ALKT stock traded down $0.67 during trading on Friday, hitting $27.30. 652,247 shares of the company traded hands, compared to its average volume of 587,115. The stock's 50-day simple moving average is $34.00 and its 200 day simple moving average is $34.93. 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 company has a market cap of $2.79 billion, a PE ratio of -58.09 and a beta of 0.49. Alkami Technology, Inc. has a 1 year low of $22.65 and a 1 year high of $42.29.
Alkami Technology (NASDAQ:ALKT - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share for the quarter, missing the consensus estimate of $0.08 by ($0.13). The company had revenue of $89.66 million for the quarter, compared to analysts' expectations of $89.63 million. Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. On average, equities analysts expect that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.
Analyst Upgrades and Downgrades
Several equities research analysts have weighed in on the company. The Goldman Sachs Group lowered their price target on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a report on Monday, March 3rd. JPMorgan Chase & Co. lifted their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a report on Monday, December 9th. Finally, Barclays decreased their target price on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a report on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Alkami Technology currently has an average rating of "Moderate Buy" and an average price target of $41.14.
Get Our Latest Stock Report on Alkami Technology
Institutional Inflows and Outflows
Several institutional investors have recently bought and sold shares of the stock. Bosun Asset Management LLC raised its position in Alkami Technology by 1.4% during the fourth quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after acquiring an additional 313 shares in the last quarter. Harbor Capital Advisors Inc. increased its position in shares of Alkami Technology by 10.1% in the fourth quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock valued at $247,000 after buying an additional 615 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Alkami Technology by 117.9% in the third 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. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology in the fourth quarter valued at approximately $34,000. Finally, Summit Investment Advisors Inc. increased its position in shares of Alkami Technology by 28.7% in the fourth quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock valued at $204,000 after buying an additional 1,238 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.
About Alkami Technology
(
Get Free Report)
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.
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