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

Key Points

• Alkami Technology, Inc. has received a consensus rating of “Moderate Buy” from nine analysts, with an average target price of $39.25 over the next 12 months.
• Shares of Alkami Technology recently traded at $24.59, up 1.9%, with a 12-month trading range between $19.94 and $42.29.
• Insider activity includes CFO W. Bryan Hill selling 20,366 shares, while institutional investors have increased their stakes, with Praesidium Investment Management acquiring a position valued at approximately $40.2 million.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) has been given an average rating of "Moderate Buy" by the nine analysts that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and six have issued a buy recommendation on the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $39.25.

Several equities analysts have weighed in on ALKT shares. Weiss Ratings restated a "sell (d-)" rating on shares of Alkami Technology in a research note on Saturday, September 27th. JPMorgan Chase & Co. started coverage on Alkami Technology in a research note on Wednesday, June 18th. They set an "overweight" rating and a $40.00 price objective on the stock.

Alkami Technology Stock Up 1.9%

Shares of ALKT traded up $0.47 during trading hours on Friday, reaching $24.59. The stock had a trading volume of 619,967 shares, compared to its average volume of 1,163,258. Alkami Technology has a 12 month low of $19.94 and a 12 month high of $42.29. The firm has a 50-day simple moving average of $24.28 and a 200 day simple moving average of $26.61. The company has a current ratio of 2.68, a quick ratio of 2.68 and a debt-to-equity ratio of 1.17. The company has a market capitalization of $2.56 billion, a price-to-earnings ratio of -64.71 and a beta of 0.57.

Insider Activity at Alkami Technology

In related news, CFO W Bryan Hill sold 20,366 shares of the business's stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $504,262.16. Following the sale, the chief financial officer directly owned 409,889 shares in the company, valued at approximately $10,148,851.64. The trade was a 4.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Atlantic Genpar (Bermu General acquired 229,391 shares of the stock in a transaction that occurred on Wednesday, August 13th. The stock was purchased at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the completion of the purchase, the director directly owned 12,033,436 shares in the company, valued at $270,030,303.84. This trade represents a 1.94% increase in their position. The disclosure for this purchase can be found here. In the last three months, insiders have bought 1,396,162 shares of company stock worth $29,692,440. Company insiders own 18.10% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of ALKT. Praesidium Investment Management Company LLC purchased a new position in shares of Alkami Technology during the first quarter worth about $40,223,000. Westfield Capital Management Co. LP purchased a new stake in Alkami Technology in the second quarter worth approximately $35,884,000. Champlain Investment Partners LLC boosted its stake in Alkami Technology by 64.0% in the first quarter. Champlain Investment Partners LLC now owns 2,583,053 shares of the company's stock worth $67,805,000 after buying an additional 1,008,025 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Alkami Technology by 61.6% in the first quarter. Ameriprise Financial Inc. now owns 1,952,063 shares of the company's stock worth $51,242,000 after buying an additional 743,884 shares in the last quarter. Finally, Bamco Inc. NY boosted its stake in Alkami Technology by 80.6% in the second quarter. Bamco Inc. NY now owns 1,330,484 shares of the company's stock worth $40,101,000 after buying an additional 593,659 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

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.

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