Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Down 31.1% in November

Alkami Technology, Inc. (NASDAQ:ALKT) was the target of a large decline in short interest in November. As of November 15th, there was short interest totalling 847,900 shares, a decline of 31.1% from the October 31st total of 1,230,000 shares. Based on an average daily volume of 713,100 shares, the short-interest ratio is currently 1.2 days. Currently, 1.5% of the company’s stock are short sold.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $39.47 on Friday. Alkami Technology has a fifty-two week low of $21.19 and a fifty-two week high of $42.29. 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 firm has a market capitalization of $3.97 billion, a P/E ratio of -83.98 and a beta of 0.43. The stock has a 50-day simple moving average of $35.99 and a two-hundred day simple moving average of $32.08.

Insiders Place Their Bets

In other news, insider Stephen Bohanon sold 15,605 shares of the stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the transaction, the insider now directly owns 388,181 shares in the company, valued at approximately $12,262,637.79. This trade represents a 3.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Linebarger sold 5,239 shares of Alkami Technology stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $38.02, for a total value of $199,186.78. Following the completion of the transaction, the insider now owns 248,585 shares in the company, valued at $9,451,201.70. This represents a 2.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,360,428 shares of company stock worth $244,916,568. 38.00% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. nVerses Capital LLC boosted its stake in shares of Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after acquiring an additional 500 shares in the last quarter. Advisors Asset Management Inc. increased its stake in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in shares of Alkami Technology by 12.7% during the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after purchasing an additional 691 shares in the last quarter. Park Place Capital Corp purchased a new stake in Alkami Technology during the 3rd quarter worth approximately $28,000. Finally, Blue Trust Inc. lifted its position in shares of Alkami Technology by 507.0% in the third 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 in the last quarter. 54.97% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. 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. JMP Securities raised their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th. Needham & Company LLC lifted their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Barclays upped their target price on 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, The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has a consensus rating of “Moderate Buy” and a consensus target price of $37.44.

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.