Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of “Moderate Buy” by Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned an average rating of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $43.00.

ALKT has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. The Goldman Sachs Group increased their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays upped their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum boosted their price target on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JMP Securities boosted their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a report on Tuesday, October 29th.

Alkami Technology Stock Performance

ALKT opened at $33.74 on Wednesday. Alkami Technology has a 12-month low of $22.65 and a 12-month high of $42.29. The company’s 50 day moving average is $36.86 and its 200 day moving average is $35.11. The company has a market cap of $3.39 billion, a price-to-earnings ratio of -71.79 and a beta of 0.47. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05.

Insider Transactions at Alkami Technology

In other news, insider Stephen Bohanon sold 15,491 shares of Alkami Technology stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $38.37, for a total value of $594,389.67. Following the completion of the transaction, the insider now owns 358,204 shares in the company, valued at approximately $13,744,287.48. The trade was a 4.15 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of Alkami Technology stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the completion of the transaction, the director now owns 9,680,049 shares of the company’s stock, valued at approximately $384,781,947.75. This trade represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 3,636,639 shares of company stock valued at $143,586,172 in the last ninety days. Corporate insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. nVerses Capital LLC boosted its holdings in shares of Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after purchasing an additional 500 shares during the period. Harbor Capital Advisors Inc. raised its holdings in shares of Alkami Technology by 10.1% in the fourth 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 in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Alkami Technology by 117.9% in the third 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 in the last quarter. Essex Investment Management Co. LLC purchased a new position in Alkami Technology during the fourth quarter valued at approximately $34,000. Finally, Blue Trust Inc. increased its holdings in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.