Insider Buying: Alkami Technology (NASDAQ:ALKT) Director Acquires $100,265.00 in Stock

Key Points

• Insider purchase: Director Joseph Payne bought 5,500 shares on March 11 at an average price of $18.23 for $100,265, increasing his stake to 26,628 shares (a 26.03% rise), according to an SEC filing.
• Current trading and valuation: ALKT was trading around $18.00 (down 0.4%), has a 52-week range of $14.11–$31.66, a market cap of about $1.91 billion and a negative P/E of -39.13.
• Analyst and institutional backdrop: Several analysts have cut price targets (e.g., JPMorgan to $22) and the consensus rating is "Hold" with a $26.67 target, while hedge funds and institutions own roughly 54.97% of the shares.

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) Director Joseph Payne purchased 5,500 shares of the business's stock in a transaction on Wednesday, March 11th. The stock was acquired at an average price of $18.23 per share, with a total value of $100,265.00. Following the completion of the acquisition, the director directly owned 26,628 shares in the company, valued at $485,428.44. The trade was a 26.03% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website.

Alkami Technology Trading Down 0.4%

Shares of ALKT stock traded down $0.07 during mid-day trading on Friday, hitting $18.00. 1,283,683 shares of the company's stock were exchanged, compared to its average volume of 2,753,136. Alkami Technology, Inc. has a fifty-two week low of $14.11 and a fifty-two week high of $31.66. The stock has a 50-day simple moving average of $18.78 and a two-hundred day simple moving average of $21.53. The company has a quick ratio of 2.09, a current ratio of 2.09 and a debt-to-equity ratio of 1.01. The stock has a market cap of $1.91 billion, a price-to-earnings ratio of -39.13 and a beta of 0.57.

Wall Street Analysts Forecast Growth

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

Hedge Funds Weigh In On Alkami Technology

A number of large investors have recently modified their holdings of the company. Invesco Ltd. lifted its stake in shares of Alkami Technology by 5.3% in the 4th quarter. Invesco Ltd. now owns 69,542 shares of the company's stock valued at $1,604,000 after purchasing an additional 3,492 shares in the last quarter. XTX Topco Ltd acquired a new stake in Alkami Technology during the 4th quarter worth approximately $236,000. SummitTX Capital L.P. purchased a new position in Alkami Technology in the fourth quarter valued at approximately $201,000. Susquehanna Fundamental Investments LLC purchased a new position in Alkami Technology in the fourth quarter valued at approximately $5,189,000. Finally, Occudo Quantitative Strategies LP acquired a new position in Alkami Technology during the fourth quarter valued at approximately $382,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

About Alkami Technology

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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