Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Insider Sells 43,336 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) insider Douglas A. Linebarger sold 43,336 shares of Alkami Technology stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $38.50, for a total transaction of $1,668,436.00. Following the sale, the insider now owns 248,585 shares in the company, valued at approximately $9,570,522.50. The trade was a 14.85 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Alkami Technology Trading Up 5.0 %

Shares of Alkami Technology stock traded up $1.95 during trading on Friday, hitting $40.69. The stock had a trading volume of 1,226,570 shares, compared to its average volume of 509,712. Alkami Technology, Inc. has a 12 month low of $21.19 and a 12 month high of $41.36. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The firm's fifty day simple moving average is $34.89 and its 200-day simple moving average is $31.46. The stock has a market cap of $4.09 billion, a PE ratio of -82.97 and a beta of 0.43.

Institutional Trading of Alkami Technology

Several institutional investors have recently added to or reduced their stakes in ALKT. Park Place Capital Corp bought a new position in shares of Alkami Technology during the third quarter valued at approximately $28,000. Advisors Asset Management Inc. boosted its holdings in 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. Blue Trust Inc. grew its position in Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company's stock valued at $38,000 after acquiring an additional 1,014 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Alkami Technology in the second quarter worth $40,000. Finally, Perkins Coie Trust Co purchased a new stake in Alkami Technology in the second quarter worth $85,000. Institutional investors own 54.97% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ALKT shares. The Goldman Sachs Group raised their target price on shares of 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 target on Alkami Technology from $38.00 to $45.00 and gave the company a "buy" rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price objective on Alkami Technology from $43.00 to $54.00 and gave the stock a "buy" rating in a research note on Thursday, October 31st. Lake Street Capital raised their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a "buy" rating in a report on Thursday, August 1st. Finally, Barclays increased their price objective 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. Three research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, Alkami Technology has a consensus rating of "Moderate Buy" and an average target price of $37.44.

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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