Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Update

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) saw a large increase in short interest in the month of December. As of December 31st, there was short interest totalling 1,450,000 shares, an increase of 26.1% from the December 15th total of 1,150,000 shares. Based on an average daily volume of 849,500 shares, the days-to-cover ratio is presently 1.7 days. Currently, 2.3% of the company's shares are sold short.

Insiders Place Their Bets

In related news, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the sale, the director now directly owns 9,680,049 shares in the company, valued at approximately $384,781,947.75. The trade was a 23.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction that occurred on 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 transaction, the director now directly owns 13,055,049 shares in the company, valued at approximately $489,564,337.50. This represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 6,517,380 shares of company stock valued at $251,616,935 in the last quarter. 25.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALKT. Franklin Resources Inc. increased its stake in Alkami Technology by 4.4% during the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company's stock worth $61,364,000 after buying an additional 75,469 shares during the period. Massachusetts Financial Services Co. MA grew its stake in shares of Alkami Technology by 13.0% during the second quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company's stock valued at $44,719,000 after acquiring an additional 181,194 shares in the last quarter. FMR LLC increased its position in shares of 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 during the last quarter. Geode Capital Management LLC lifted its stake in shares of Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company's stock worth $38,865,000 after acquiring an additional 173,394 shares in the last quarter. Finally, Driehaus Capital Management LLC lifted its stake in shares of Alkami Technology by 56.2% in the second 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 in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ALKT. JMP Securities increased their target price on Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a research report on Tuesday, October 29th. The Goldman Sachs Group raised their price objective on Alkami Technology from $34.00 to $39.00 and gave the stock a "neutral" rating in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Needham & Company LLC increased their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a research report on Thursday, October 31st. Finally, Craig Hallum lifted their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $43.00.

Alkami Technology Stock Up 1.4 %

NASDAQ ALKT traded up $0.48 on Thursday, reaching $35.22. The company had a trading volume of 413,800 shares, compared to its average volume of 572,740. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. Alkami Technology has a 1 year low of $22.65 and a 1 year high of $42.29. The firm has a 50-day moving average of $38.00 and a 200-day moving average of $34.57. The firm has a market capitalization of $3.54 billion, a PE ratio of -74.94 and a beta of 0.48.

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.