Prerna Sachdeva Sells 1,101 Shares of Alkami Technology (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) CAO Prerna Sachdeva sold 1,101 shares of Alkami Technology stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $22,394.34. Following the completion of the transaction, the chief accounting officer owned 64,960 shares in the company, valued at $1,321,286.40. This represents a 1.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Alkami Technology Stock Performance

ALKT stock opened at $21.27 on Friday. Alkami Technology, Inc. has a one year low of $18.71 and a one year high of $40.99. The firm has a market cap of $2.23 billion, a price-to-earnings ratio of -49.47 and a beta of 0.54. The company has a debt-to-equity ratio of 1.08, a quick ratio of 2.17 and a current ratio of 2.17. The firm has a 50-day simple moving average of $22.06 and a two-hundred day simple moving average of $25.15.

Alkami Technology (NASDAQ:ALKT) last posted its earnings results on Thursday, October 30th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of $0.15 by ($0.29). The firm had revenue of $112.95 million for the quarter, compared to analysts’ expectations of $113.48 million. Alkami Technology had a negative net margin of 10.63% and a negative return on equity of 5.73%. The company’s revenue was up 31.5% on a year-over-year basis. During the same period in the previous year, the company earned ($0.09) EPS. On average, equities analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Citizens Jmp cut their price objective on shares of Alkami Technology from $46.00 to $40.00 and set a “market outperform” rating on the stock in a report on Friday, October 31st. Barclays cut their price target on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a research note on Friday, October 31st. Needham & Company LLC lowered their price objective on shares of Alkami Technology from $40.00 to $32.00 and set a “buy” rating for the company in a research note on Friday, October 31st. Zacks Research downgraded Alkami Technology from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, November 4th. Finally, JPMorgan Chase & Co. reduced their target price on Alkami Technology from $40.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Six analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and an average target price of $36.00.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Harbor Capital Advisors Inc. grew its position in shares of Alkami Technology by 370.5% during the second quarter. Harbor Capital Advisors Inc. now owns 63,660 shares of the company’s stock worth $1,919,000 after acquiring an additional 50,131 shares during the last quarter. George Kaiser Family Foundation acquired a new stake in shares of Alkami Technology in the 1st quarter valued at approximately $2,948,000. Vanguard Group Inc. boosted its stake in shares of Alkami Technology by 6.7% during the 1st quarter. Vanguard Group Inc. now owns 7,949,573 shares of the company’s stock worth $208,676,000 after acquiring an additional 501,722 shares in the last quarter. Corebridge Financial Inc. boosted its position in Alkami Technology by 12.6% during the first quarter. Corebridge Financial Inc. now owns 29,714 shares of the company’s stock worth $780,000 after purchasing an additional 3,325 shares in the last quarter. Finally, Herald Investment Management Ltd boosted its position in Alkami Technology by 20.0% during the second quarter. Herald Investment Management Ltd now owns 180,000 shares of the company’s stock worth $5,425,000 after purchasing an additional 30,000 shares in the last quarter. Institutional investors and hedge funds 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.