Alkami Technology (NASDAQ:ALKT) Shares Down 8.2% - Time to Sell?

Key Points

• Shares fell 8.2% to $16.06 on Thursday (from $17.50) with about 581,772 shares traded, a 69% decline from average daily volume, signaling a sharp intraday drop.
• Analysts have trimmed price targets (e.g., Barclays to $21, Needham to $22, JPMorgan to $22) and the stock carries a consensus "Hold" rating with an average target of $26.67 (4 Buy, 3 Hold, 1 Sell).
• Insiders bought heavily: Director Atlantic L.P. purchased 1,103,749 shares at $17.56 and another director bought 500,000 shares at $18.33, increasing insider ownership to about 17.10%.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report)'s share price was down 8.2% on Thursday . The company traded as low as $16.08 and last traded at $16.0640. Approximately 581,772 shares traded hands during trading, a decline of 69% from the average daily volume of 1,881,970 shares. The stock had previously closed at $17.50.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ALKT shares. Barclays decreased their target price on shares of Alkami Technology from $25.00 to $21.00 and set an "equal weight" rating on the stock in a report on Thursday, February 26th. Needham & Company LLC decreased their target price on shares of Alkami Technology from $32.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, February 26th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Alkami Technology in a report on Wednesday, January 21st. Citizens Jmp cut their price target on shares of Alkami Technology from $40.00 to $28.00 and set a "market outperform" rating for the company in a research note on Thursday, February 26th. Finally, JPMorgan Chase & Co. cut their price target on shares of Alkami Technology from $38.00 to $22.00 and set an "overweight" rating for the company in a research note on Wednesday, February 18th. Four analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $26.67.

Alkami Technology Trading Down 8.6%

The company has a debt-to-equity ratio of 1.01, a quick ratio of 2.09 and a current ratio of 2.09. The firm has a market cap of $1.71 billion, a PE ratio of -34.76 and a beta of 0.57. The stock's 50 day simple moving average is $16.71 and its 200 day simple moving average is $19.82.

Insiders Place Their Bets

In related news, Director Atlantic L.P. General purchased 1,103,749 shares of the business's stock in a transaction on Tuesday, March 10th. The stock was acquired at an average price of $17.56 per share, with a total value of $19,381,832.44. Following the purchase, the director directly owned 13,979,451 shares in the company, valued at approximately $245,479,159.56. This represents a 8.57% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Atlantic Genpar (Bermu General purchased 500,000 shares of the business's stock in a transaction on Thursday, March 12th. The stock was bought at an average cost of $18.33 per share, with a total value of $9,165,000.00. Following the purchase, the director owned 15,379,451 shares in the company, valued at approximately $281,905,336.83. This represents a 3.36% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last quarter, insiders have bought 3,351,515 shares of company stock worth $59,829,413 and have sold 13,739 shares worth $232,189. 17.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently made changes to their positions in the business. First Horizon Corp purchased a new stake in shares of Alkami Technology in the 3rd quarter valued at $30,000. Smartleaf Asset Management LLC boosted its stake in shares of Alkami Technology by 91.7% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company's stock valued at $34,000 after purchasing an additional 692 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Alkami Technology by 398.3% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company's stock valued at $35,000 after purchasing an additional 916 shares in the last quarter. Global Retirement Partners LLC purchased a new stake in shares of Alkami Technology in the 4th quarter valued at $37,000. Finally, AlphaQuest LLC boosted its stake in shares of Alkami Technology by 54.5% in the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company's stock valued at $38,000 after purchasing an additional 544 shares in the last quarter. Hedge funds and other institutional investors own 54.97% of the company's stock.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company's platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami's platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.

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