Alkami Technology, Inc. (NASDAQ:ALKT) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• Alkami Technology, Inc. has received an average rating of "Moderate Buy" from eight research firms, with a target price of $39.25.
• Shares opened at $25.60, with a 12-month high of $42.29 and a market capitalization of $2.66 billion.
• Insider activity includes CFO W Bryan Hill selling over 20,000 shares and a director purchasing 229,391 shares in August, indicating mixed sentiment among executives.

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have received an average rating of "Moderate Buy" from the eight analysts that are covering the stock, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $39.25.

Separately, JPMorgan Chase & Co. started coverage on shares of Alkami Technology in a report on Wednesday, June 18th. They set an "overweight" rating and a $40.00 target price for the company.

Insider Activity

In other news, CFO W Bryan Hill sold 20,366 shares of Alkami Technology stock in a transaction that occurred on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total transaction of $504,262.16. Following the completion of the transaction, the chief financial officer directly owned 409,889 shares of the company's stock, valued at $10,148,851.64. The trade was a 4.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Prerna Sachdeva sold 2,967 shares of Alkami Technology stock in a transaction on Tuesday, September 2nd. The shares were sold at an average price of $24.76, for a total transaction of $73,462.92. Following the completion of the sale, the chief accounting officer directly owned 66,061 shares in the company, valued at $1,635,670.36. This represents a 4.30% decrease in their position. The disclosure for this sale can be found here. Insiders bought a total of 1,396,162 shares of company stock valued at $29,692,440 in the last three months. 18.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors have recently added to or reduced their stakes in ALKT. Whale Rock Capital Management LLC acquired a new stake in Alkami Technology in the 4th quarter valued at $78,878,000. Praesidium Investment Management Company LLC acquired a new stake in Alkami Technology in the 1st quarter valued at $40,223,000. Westfield Capital Management Co. LP acquired a new stake in Alkami Technology in the 2nd quarter valued at $35,884,000. Champlain Investment Partners LLC grew its stake in Alkami Technology by 64.0% in the 1st quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company's stock valued at $67,805,000 after acquiring an additional 1,008,025 shares during the period. Finally, Ameriprise Financial Inc. grew its stake in Alkami Technology by 61.6% in the 1st quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company's stock valued at $51,242,000 after acquiring an additional 743,884 shares during the period. Institutional investors and hedge funds own 54.97% of the company's stock.

Alkami Technology Stock Performance

Shares of NASDAQ:ALKT traded up $0.22 during trading on Friday, hitting $25.02. 2,085,642 shares of the stock traded hands, compared to its average volume of 1,516,402. The company has a quick ratio of 2.68, a current ratio of 2.68 and a debt-to-equity ratio of 1.17. The company has a market cap of $2.60 billion, a price-to-earnings ratio of -65.84 and a beta of 0.58. The company has a fifty day moving average price of $25.85 and a two-hundred day moving average price of $27.04. Alkami Technology has a 52-week low of $19.94 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.