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

Alkami Technology, Inc. (NASDAQ:ALKT) has received an average rating of “Moderate Buy” from the ten ratings firms that are covering the company, MarketBeat reports. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating on the company. The average 1 year target price among brokers that have issued a report on the stock in the last year is $37.44.

Several research firms recently issued reports on ALKT. Barclays upped their price objective 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. The Goldman Sachs Group upped their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. 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 report on Thursday, October 31st. Lake Street Capital upped their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research note on Thursday, August 1st. Finally, Craig Hallum lifted their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st.

Insider Activity

In other news, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction dated Thursday, September 5th. The stock was 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 of the company’s stock, valued at $12,262,637.79. The trade was a 3.86 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO W Bryan Hill sold 17,937 shares of Alkami Technology 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 $566,629.83. Following the transaction, the chief financial officer now directly owns 471,403 shares in the company, valued at $14,891,620.77. This represents a 3.67 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 6,360,428 shares of company stock valued at $244,916,568 in the last quarter. 38.00% of the stock is currently owned by insiders.

Institutional Trading of Alkami Technology

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Park Place Capital Corp purchased a new stake in shares of Alkami Technology during the third quarter worth about $28,000. Advisors Asset Management Inc. boosted its stake in Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares during the period. Blue Trust Inc. grew its holdings in Alkami Technology by 507.0% during the 3rd 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 in the last quarter. Point72 Asset Management L.P. bought a new stake in shares of Alkami Technology during the second quarter valued at approximately $40,000. Finally, Perkins Coie Trust Co purchased a new position in shares of Alkami Technology in the second quarter worth $85,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Trading Down 1.0 %

NASDAQ:ALKT opened at $39.28 on Friday. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -83.57 and a beta of 0.43. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The company’s 50 day moving average price is $35.69 and its 200-day moving average price is $31.88. Alkami Technology has a 52 week low of $21.19 and a 52 week high of $42.29.

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.