Alkami Technology (NASDAQ:ALKT) Sees Unusually-High Trading Volume - Still a Buy?

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) saw strong trading volume on Monday . 1,462,884 shares changed hands during trading, an increase of 123% from the previous session's volume of 654,683 shares.The stock last traded at $25.32 and had previously closed at $25.26.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the company. Stephens raised Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 price objective for the company in a research report on Thursday, March 13th. JPMorgan Chase & Co. raised their price objective on Alkami Technology from $42.00 to $45.00 and gave the company an "overweight" rating in a research report on Monday, December 9th. Barclays lowered their price objective on Alkami Technology from $41.00 to $35.00 and set an "equal weight" rating for the company in a research report on Monday, March 3rd. Finally, The Goldman Sachs Group lowered their price objective on Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $41.00.

Alkami Technology Price Performance

The firm has a fifty day moving average price of $31.75 and a two-hundred day moving average price of $34.42. The stock has a market capitalization of $2.74 billion, a P/E ratio of -57.02 and a beta of 0.49. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

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Alkami Technology (NASDAQ:ALKT - Get Free Report) last released its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) EPS for the quarter, missing the consensus estimate 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 during the quarter, compared to the consensus estimate of $89.63 million. On average, analysts expect that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Insider Buying and Selling

In other news, insider Douglas A. Linebarger sold 4,358 shares of the company's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the sale, the insider now owns 244,404 shares of the company's stock, valued at $7,432,325.64. This represents a 1.75 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO W Bryan Hill sold 100,000 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $33.43, for a total transaction of $3,343,000.00. Following the sale, the chief financial officer now directly owns 353,841 shares of the company's stock, valued at $11,828,904.63. The trade was a 22.03 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 121,767 shares of company stock worth $4,004,934. 38.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bosun Asset Management LLC increased its position in shares of Alkami Technology by 1.4% during the 4th quarter. Bosun Asset Management LLC now owns 23,151 shares of the company's stock valued at $849,000 after purchasing an additional 313 shares during the last quarter. Harbor Capital Advisors Inc. grew its stake in shares of Alkami Technology by 10.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 6,727 shares of the company's stock valued at $247,000 after acquiring an additional 615 shares during the period. Advisors Asset Management Inc. grew its stake in shares of Alkami Technology by 117.9% during the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company's stock valued at $37,000 after acquiring an additional 631 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Alkami Technology during the 4th quarter valued at approximately $34,000. Finally, Summit Investment Advisors Inc. grew its stake in shares of Alkami Technology by 28.7% during the 4th quarter. Summit Investment Advisors Inc. now owns 5,553 shares of the company's stock valued at $204,000 after acquiring an additional 1,238 shares during the period. Hedge funds and other institutional investors own 54.97% of the company's stock.

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.