Alkami Technology (NASDAQ:ALKT) Shares Up 5.4%

Alkami Technology, Inc. (NASDAQ:ALKT - Get Free Report) traded up 5.4% on Thursday . The company traded as high as $27.43 and last traded at $27.42. 394,964 shares changed hands during mid-day trading, an increase of 17% from the average session volume of 338,547 shares. The stock had previously closed at $26.02.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. JMP Securities restated a "market outperform" rating and set a $30.00 price objective on shares of Alkami Technology in a research note on Monday, April 15th. The Goldman Sachs Group cut shares of Alkami Technology from a "buy" rating to a "neutral" rating and raised their target price for the stock from $23.00 to $27.00 in a report on Tuesday, January 23rd. Needham & Company LLC upped their target price on Alkami Technology from $30.00 to $32.00 and gave the company a "buy" rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. raised their price target on Alkami Technology from $27.00 to $31.00 and gave the stock an "overweight" rating in a report on Thursday, February 29th. Finally, TheStreet upgraded Alkami Technology from a "d" rating to a "c-" rating in a research note on Thursday, February 29th. Three equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $26.90.

Alkami Technology Price Performance

The business's 50-day simple moving average is $24.39 and its 200 day simple moving average is $23.90. The company has a market capitalization of $2.60 billion, a P/E ratio of -43.37 and a beta of 0.40. The company has a current ratio of 3.92, a quick ratio of 3.92 and a debt-to-equity ratio of 0.06.

Alkami Technology (NASDAQ:ALKT - Get Free Report) last posted its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.02 by $0.03. The business had revenue of $76.10 million for the quarter, compared to analyst estimates of $75.57 million. Alkami Technology had a negative net margin of 20.42% and a negative return on equity of 15.31%. The business's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the business earned ($0.16) earnings per share. As a group, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.39 EPS for the current year.

Insider Buying and Selling

In other Alkami Technology news, insider Douglas A. Linebarger sold 71,030 shares of the company's stock in a transaction dated Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the sale, the insider now directly owns 262,749 shares of the company's stock, valued at approximately $7,049,555.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Atlantic Genpar (Bermu General sold 1,542,821 shares of the business's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $26.53, for a total transaction of $40,931,041.13. Following the sale, the director now directly owns 17,186,985 shares of the company's stock, valued at $455,970,712.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 71,030 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $26.83, for a total value of $1,905,734.90. Following the completion of the transaction, the insider now owns 262,749 shares of the company's stock, valued at approximately $7,049,555.67. The disclosure for this sale can be found here. Insiders have sold a total of 1,726,585 shares of company stock valued at $45,495,640 over the last three months. Company insiders own 25.90% of the company's stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ALKT. Capital International Investors lifted its position in shares of Alkami Technology by 15.6% in the 4th quarter. Capital International Investors now owns 4,679,907 shares of the company's stock valued at $113,488,000 after acquiring an additional 632,061 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Alkami Technology by 1.9% in the first quarter. Vanguard Group Inc. now owns 4,650,560 shares of the company's stock valued at $114,264,000 after purchasing an additional 88,390 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Alkami Technology by 10.7% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,244,783 shares of the company's stock valued at $40,900,000 after purchasing an additional 217,123 shares in the last quarter. Wasatch Advisors LP acquired a new stake in shares of Alkami Technology in the first quarter worth $37,178,000. Finally, FMR LLC grew its holdings in shares of Alkami Technology by 1.8% during the third quarter. FMR LLC now owns 1,182,327 shares of the company's stock valued at $21,542,000 after buying an additional 21,086 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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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