Analysts Set Alkami Technology, Inc. (NASDAQ:ALKT) PT at $43.00

Alkami Technology, Inc. (NASDAQ:ALKT) has been assigned an average rating of “Moderate Buy” from the eight ratings firms that are presently covering the stock, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $43.00.

A number of research firms have recently weighed in on ALKT. Needham & Company LLC raised their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. JMP Securities lifted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research report on Tuesday, October 29th. Craig Hallum lifted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. The Goldman Sachs Group lifted their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Finally, Barclays lifted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st.

Alkami Technology Trading Up 0.9 %

ALKT opened at $35.52 on Friday. The company’s 50 day moving average is $37.86 and its 200-day moving average is $34.72. Alkami Technology has a 1-year low of $22.65 and a 1-year high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.57 billion, a P/E ratio of -75.57 and a beta of 0.48.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of Alkami Technology stock in a transaction on Monday, November 18th. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00. Following the completion of the sale, the chief financial officer now owns 471,403 shares in the company, valued at $17,116,642.93. The trade was a 17.50 % decrease in their position. The transaction 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 Alkami Technology stock in a transaction 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 completion of the sale, the director now owns 13,055,049 shares of the company’s stock, valued at $489,564,337.50. This represents a 16.07 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 6,517,380 shares of company stock worth $251,616,935. Company insiders own 25.90% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds have recently modified their holdings of ALKT. Rhumbline Advisers increased its stake in shares of Alkami Technology by 11.2% in the 2nd quarter. Rhumbline Advisers now owns 68,658 shares of the company’s stock valued at $1,955,000 after acquiring an additional 6,928 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Alkami Technology by 13.0% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,570,179 shares of the company’s stock valued at $44,719,000 after purchasing an additional 181,194 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in Alkami Technology by 12.9% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,053,567 shares of the company’s stock valued at $30,002,000 after purchasing an additional 120,468 shares in the last quarter. Renaissance Technologies LLC increased its stake in Alkami Technology by 12.2% during the 2nd quarter. Renaissance Technologies LLC now owns 97,400 shares of the company’s stock valued at $2,774,000 after purchasing an additional 10,600 shares in the last quarter. Finally, Blair William & Co. IL increased its stake in Alkami Technology by 15.8% during the 2nd quarter. Blair William & Co. IL now owns 18,705 shares of the company’s stock valued at $533,000 after purchasing an additional 2,550 shares in the last quarter. 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.