Alkami Technology, Inc. (NASDAQ:ALKT) Given Average Recommendation of "Moderate Buy" by Analysts

Key Points

• Alkami Technology, Inc. has received an average recommendation of "Moderate Buy" from eight analysts, with a majority issuing buy ratings and a 12-month price target averaging $39.25.
• Insider transactions showed CFO W Bryan Hill selling over 20,000 shares at an average price of $28.36, indicating a 4.52% decrease in his position, while a total of 27,690 shares were sold by insiders in the last quarter.
• Institutional investors hold 54.97% of Alkami Technology's stock, with significant increases in positions from firms like CWM LLC and Perkins Coie Trust Co. during the last quarters.

Shares of Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) have been given an average recommendation of "Moderate Buy" by the eight analysts that are covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $39.25.

Several analysts have issued reports on the stock. Lake Street Capital lowered their target price on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. JPMorgan Chase & Co. assumed coverage on shares of Alkami Technology in a research note on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 target price on the stock. JMP Securities reiterated a "market outperform" rating and issued a $46.00 target price on shares of Alkami Technology in a research note on Thursday, May 1st. Needham & Company LLC lowered their target price on shares of Alkami Technology from $54.00 to $40.00 and set a "buy" rating on the stock in a research note on Thursday, May 1st. Finally, Barclays lowered their target price on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating on the stock in a research note on Monday, April 14th.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 20,365 shares of the 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 transaction, the chief financial officer owned 430,255 shares of the company's stock, valued at $12,202,031.80. This represents a 4.52% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Douglas A. Linebarger sold 7,170 shares of the 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 transaction, the insider directly owned 238,172 shares in the company, valued at approximately $6,754,557.92. This represents a 2.92% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 27,690 shares of company stock valued at $785,288 in the last quarter. Insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Alkami Technology

Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC grew its holdings in shares of Alkami Technology by 176.2% during the 2nd quarter. CWM LLC now owns 942 shares of the company's stock valued at $28,000 after purchasing an additional 601 shares during the last quarter. Perkins Coie Trust Co grew its holdings 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 valued at $34,000 after purchasing an additional 500 shares during the last quarter. Versant Capital Management Inc bought a new position in shares of Alkami Technology during the 1st quarter valued at $36,000. Assetmark Inc. bought a new position in shares of Alkami Technology during the 2nd quarter valued at $44,000. Finally, Emerald Mutual Fund Advisers Trust bought a new position in shares of Alkami Technology during the 2nd quarter valued at $49,000. Institutional investors own 54.97% of the company's stock.

Alkami Technology Stock Performance

NASDAQ ALKT opened at $21.56 on Wednesday. Alkami Technology has a 1 year low of $20.42 and a 1 year high of $42.29. The company has a debt-to-equity ratio of 1.17, a current ratio of 2.68 and a quick ratio of 2.68. The stock has a market capitalization of $2.24 billion, a PE ratio of -56.74 and a beta of 0.57. The company's 50 day simple moving average is $28.26 and its two-hundred day simple moving average is $28.74.

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.

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