Alkami Technology (NASDAQ:ALKT) Sees Large Volume Increase - Should You Buy?

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) shares saw an uptick in trading volume on Tuesday . 1,389,210 shares traded hands during mid-day trading, an increase of 127% from the previous session's volume of 611,862 shares.The stock last traded at $23.56 and had previously closed at $23.87.

Analysts Set New Price Targets

Several research firms recently weighed in on ALKT. JPMorgan Chase & Co. boosted their price objective on Alkami Technology from $42.00 to $45.00 and gave the stock an "overweight" rating in a research report on Monday, December 9th. Barclays cut their price target 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. Finally, The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating on the stock in a research note on Monday, March 3rd. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $41.14.

Alkami Technology Price Performance

The company's 50 day moving average price is $33.53 and its 200 day moving average price is $34.89. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. The company has a market cap of $2.45 billion, a price-to-earnings ratio of -51.09 and a beta of 0.49.

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Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing analysts' consensus estimates of $0.08 by ($0.13). Alkami Technology had a negative return on equity of 11.31% and a negative net margin of 14.55%. The business had revenue of $89.66 million for the quarter, compared to the consensus estimate of $89.63 million. On average, equities research analysts predict that Alkami Technology, Inc. will post -0.34 earnings per share for the current fiscal year.

Insider Buying and Selling at Alkami Technology

In related news, CFO W Bryan Hill sold 100,000 shares of the firm's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00. Following the transaction, the chief financial officer now owns 353,841 shares in the company, valued at $14,072,256.57. This trade represents a 22.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Linebarger sold 50,000 shares of the business's stock in a transaction dated Thursday, December 12th. The stock was sold at an average price of $40.05, for a total value of $2,002,500.00. Following the sale, the insider now directly owns 191,668 shares of the company's stock, valued at $7,676,303.40. This represents a 20.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 271,767 shares of company stock worth $9,984,434. Insiders own 38.00% of the company's stock.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds have recently added to or reduced their stakes in the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of Alkami Technology in the 4th quarter valued at approximately $4,384,000. Jefferies Financial Group Inc. acquired a new stake in Alkami Technology in the fourth quarter worth $2,704,000. Mackenzie Financial Corp boosted its position in shares of Alkami Technology by 244.9% during the fourth quarter. Mackenzie Financial Corp now owns 26,509 shares of the company's stock worth $972,000 after purchasing an additional 18,823 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Alkami Technology by 18.6% in the 4th quarter. Public Employees Retirement System of Ohio now owns 82,759 shares of the company's stock valued at $3,036,000 after buying an additional 12,952 shares during the period. Finally, Neo Ivy Capital Management bought a new stake in shares of Alkami Technology in the 4th quarter valued at $96,000. Institutional investors and hedge funds 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.

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