Douglas A. Linebarger Sells 7,170 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) insider Douglas A. Linebarger sold 7,170 shares of Alkami Technology stock in a transaction that occurred on Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $203,341.20. Following the sale, the insider now directly owns 238,172 shares in the company, valued at $6,754,557.92. The trade was a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Alkami Technology Trading Up 1.3%

Shares of NASDAQ:ALKT traded up $0.38 during mid-day trading on Thursday, reaching $30.44. 1,125,479 shares of the company's stock were exchanged, compared to its average volume of 863,375. The firm has a market capitalization of $3.14 billion, a price-to-earnings ratio of -64.77 and a beta of 0.58. The business's fifty day moving average price is $27.14 and its 200-day moving average price is $31.78. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52. Alkami Technology, Inc. has a twelve month low of $21.70 and a twelve month high of $42.29.

Hedge Funds Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently bought and sold shares of ALKT. Essex Investment Management Co. LLC acquired a new position in shares of Alkami Technology during the fourth quarter valued at about $34,000. Perkins Coie Trust Co raised its holdings in shares of Alkami Technology by 62.5% during the first 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 period. Versant Capital Management Inc acquired a new position in shares of Alkami Technology during the first quarter valued at about $36,000. Amalgamated Bank raised its holdings in shares of Alkami Technology by 50.8% during the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after purchasing an additional 704 shares during the period. Finally, Summit Securities Group LLC acquired a new position in shares of Alkami Technology during the first quarter valued at about $59,000. Institutional investors and hedge funds own 54.97% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on ALKT. Stephens upgraded shares of Alkami Technology from an "equal weight" rating to an "overweight" rating and set a $40.00 target price for the company in a research report on Thursday, March 13th. JMP Securities restated a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. The Goldman Sachs Group lowered their price objective on shares of Alkami Technology from $39.00 to $32.00 and set a "neutral" rating for the company in a research report on Monday, March 3rd. Barclays lowered their price objective on shares of Alkami Technology from $35.00 to $30.00 and set an "equal weight" rating for the company in a research report on Monday, April 14th. Finally, Lake Street Capital lowered their price objective on shares of Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Two investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $39.88.

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.