Alkami Technology, Inc. (NASDAQ:ALKT) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) have earned an average recommendation of “Moderate Buy” from the eight research firms that are covering the company, Marketbeat.com reports. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $39.88.

A number of equities analysts have recently issued reports on the company. The Goldman Sachs Group reduced their price target on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Lake Street Capital dropped their price objective on shares of Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Barclays dropped their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a report on Monday, April 14th. JMP Securities reissued a “market outperform” rating and set a $46.00 price objective on shares of Alkami Technology in a report on Thursday, May 1st. Finally, Stephens raised shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective on the stock in a report on Thursday, March 13th.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 20,365 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $577,551.40. Following the sale, the chief financial officer now directly owns 430,255 shares of the company’s stock, valued at approximately $12,202,031.80. This represents a 4.52% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Linebarger sold 7,170 shares of the company’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total transaction of $203,341.20. Following the completion of the sale, the insider now directly owns 238,172 shares in the company, valued at approximately $6,754,557.92. The trade was a 2.92% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 27,690 shares of company stock valued at $785,288. 18.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds have recently modified their holdings of ALKT. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology during the 4th quarter worth about $34,000. Perkins Coie Trust Co boosted its stake in shares of Alkami Technology by 62.5% during the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after acquiring an additional 500 shares in the last quarter. Versant Capital Management Inc purchased a new stake in shares of Alkami Technology during the 1st quarter worth about $36,000. Amalgamated Bank boosted its stake in shares of Alkami Technology by 50.8% during the 1st quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock worth $55,000 after acquiring an additional 704 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new stake in shares of Alkami Technology during the 1st quarter worth about $59,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT opened at $27.19 on Tuesday. The firm has a 50 day moving average of $27.85 and a 200 day moving average of $31.11. The company has a market capitalization of $2.80 billion, a price-to-earnings ratio of -57.85 and a beta of 0.58. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. Alkami Technology has a 52 week low of $21.70 and a 52 week high of $42.29.

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.