Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Up 26.1% in January

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALKT. JMP Securities lifted their price objective on Alkami Technology from $38.00 to $41.00 and gave the stock a "market outperform" rating in a report on Tuesday, October 29th. The Goldman Sachs Group boosted their price target on Alkami Technology from $34.00 to $39.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Craig Hallum increased their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an "equal weight" rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.00.

Alkami Technology Stock Performance

NASDAQ ALKT traded up $0.27 on Monday, reaching $35.06. 589,524 shares of the stock were exchanged, compared to its average volume of 521,732. The firm has a market capitalization of $3.52 billion, a PE ratio of -74.45 and a beta of 0.47. Alkami Technology has a one year low of $22.65 and a one year high of $42.29. The company's 50-day simple moving average is $37.46 and its two-hundred day simple moving average is $35.00. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Insider Activity at Alkami Technology

In other news, insider Douglas A. Linebarger sold 5,239 shares of the firm's stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total transaction of $199,186.78. Following the sale, the insider now owns 248,585 shares of the company's stock, valued at $9,451,201.70. This trade represents a 2.06 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Atlantic L.P. General sold 2,500,000 shares of the business's stock in a transaction that occurred on Friday, November 8th. The shares were 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 of the company's stock, valued at $489,564,337.50. The trade was a 16.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,517,380 shares of company stock valued at $251,616,935. 25.90% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Handelsbanken Fonder AB purchased a new position in shares of Alkami Technology in the fourth quarter valued at about $451,000. Private Advisor Group LLC purchased a new position in Alkami Technology in the 4th quarter worth approximately $308,000. New York State Common Retirement Fund boosted its stake in Alkami Technology by 33.5% in the 4th quarter. New York State Common Retirement Fund now owns 44,567 shares of the company's stock worth $1,635,000 after purchasing an additional 11,175 shares during the period. Principal Financial Group Inc. grew its holdings in Alkami Technology by 11.8% during the 4th quarter. Principal Financial Group Inc. now owns 31,042 shares of the company's stock valued at $1,139,000 after buying an additional 3,287 shares in the last quarter. Finally, Lee Financial Co bought a new stake in shares of Alkami Technology during the fourth quarter valued at approximately $2,293,000. Hedge funds and other 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.