Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of "Moderate Buy" by Brokerages

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have received a consensus recommendation of "Moderate Buy" from the nine brokerages that are presently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a hold recommendation and seven have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued a report on the stock in the last year is $40.88.

A number of research analysts recently issued reports on the stock. JMP Securities boosted their price objective on shares of Alkami Technology from $38.00 to $41.00 and gave the company a "market outperform" rating in a report on Tuesday, October 29th. Craig Hallum boosted their price target 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. Needham & Company LLC lifted their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their target price on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Finally, Barclays raised their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an "equal weight" rating in a research report on Thursday, October 31st.

Alkami Technology Trading Up 1.8 %

ALKT traded up $0.70 during midday trading on Tuesday, reaching $39.63. 235,123 shares of the company were exchanged, compared to its average volume of 545,694. The stock has a market capitalization of $3.98 billion, a P/E ratio of -84.32 and a beta of 0.46. Alkami Technology has a one year low of $22.62 and a one year high of $42.29. The stock's 50-day simple moving average is $38.22 and its 200 day simple moving average is $33.41. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Insider Buying and Selling at Alkami Technology

In other news, Director Atlantic Genpar (Bermu General sold 375,000 shares of the stock in a transaction dated Tuesday, November 12th. The shares were 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 directly owns 12,680,049 shares in the company, valued at $475,501,837.50. This represents a 2.87 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the sale, the chief financial officer now directly owns 353,841 shares in the company, valued at approximately $14,072,256.57. This represents a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,417,380 shares of company stock worth $248,273,935. Corporate insiders own 38.00% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Trust Point Inc. bought a new stake in shares of Alkami Technology during the 3rd quarter worth approximately $1,029,000. Oppenheimer Asset Management Inc. acquired a new position in Alkami Technology during the third quarter worth $1,860,000. FMR LLC raised its position in Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company's stock worth $48,059,000 after acquiring an additional 141,319 shares in the last quarter. Fifth Third Wealth Advisors LLC acquired a new stake in Alkami Technology in the third quarter valued at $1,115,000. Finally, Principal Financial Group Inc. bought a new position in shares of Alkami Technology in the 3rd quarter valued at about $875,000. 54.97% of the stock is owned by institutional investors and hedge funds.

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.