Alkami Technology, Inc. (NASDAQ:ALKT) Insider Douglas A. Linebarger Sells 71,030 Shares

Alkami Technology, Inc. (NASDAQ:ALKT) 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 transaction of $1,905,734.90. Following the transaction, the insider now directly owns 262,749 shares in the company, valued at $7,049,555.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Alkami Technology Stock Down 3.8 %

NASDAQ:ALKT traded down $1.06 during midday trading on Wednesday, reaching $26.57. The company had a trading volume of 727,533 shares, compared to its average volume of 334,448. Alkami Technology, Inc. has a 12-month low of $11.97 and a 12-month high of $27.94. The firm has a market capitalization of $2.59 billion, a price-to-earnings ratio of -46.05 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. The stock’s fifty day simple moving average is $24.21 and its 200-day simple moving average is $23.61.

Alkami Technology (NASDAQ:ALKT) last announced its quarterly earnings data on Wednesday, May 1st. The company reported $0.05 earnings per share 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 company’s revenue was up 26.8% on a year-over-year basis. During the same period last year, the business earned ($0.16) EPS. On average, sell-side analysts anticipate that Alkami Technology, Inc. will post -0.41 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALKT. The Goldman Sachs Group downgraded Alkami Technology from a “buy” rating to a “neutral” rating and raised their target price for the company from $23.00 to $27.00 in a research report on Tuesday, January 23rd. JMP Securities reiterated a “market outperform” rating and set a $30.00 price objective on shares of Alkami Technology in a research report on Monday, April 15th. TheStreet upgraded Alkami Technology from a “d” rating to a “c-” rating in a report on Thursday, February 29th. JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $27.00 to $31.00 and gave the company an “overweight” rating in a research note on Thursday, February 29th. Finally, Barclays upped their price objective on Alkami Technology from $26.00 to $27.00 and gave the company an “equal weight” rating in a report on Thursday, February 29th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $26.90.

Institutional Investors Weigh In On Alkami Technology

A number of institutional investors and hedge funds have recently bought and sold shares of ALKT. Beaird Harris Wealth Management LLC raised its stake in Alkami Technology by 31.7% during the 3rd quarter. Beaird Harris Wealth Management LLC now owns 2,075 shares of the company’s stock valued at $38,000 after acquiring an additional 500 shares during the last quarter. Swiss National Bank boosted its holdings in Alkami Technology by 1.1% in the 3rd quarter. Swiss National Bank now owns 91,900 shares of the company’s stock valued at $1,674,000 after purchasing an additional 1,000 shares in the last quarter. NBC Securities Inc. increased its position in Alkami Technology by 61.6% during the 1st quarter. NBC Securities Inc. now owns 2,892 shares of the company’s stock worth $71,000 after purchasing an additional 1,102 shares during the period. Penbrook Management LLC lifted its holdings in shares of Alkami Technology by 2.3% in the 4th quarter. Penbrook Management LLC now owns 61,950 shares of the company’s stock valued at $1,502,000 after buying an additional 1,400 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position in shares of Alkami Technology by 9.2% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,685 shares of the company’s stock worth $322,000 after purchasing an additional 1,494 shares in the last quarter. 54.97% of the stock is owned by hedge funds and other institutional investors.

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.