Alkami Technology (NASDAQ:ALKT) Sets New 52-Week Low – Time to Sell?

Alkami Technology, Inc. (NASDAQ:ALKT) hit a new 52-week low on Tuesday . The stock traded as low as $15.30 and last traded at $15.48, with a volume of 2472589 shares changing hands. The stock had previously closed at $17.03.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the company. Citizens Jmp reissued a “market outperform” rating and set a $40.00 target price on shares of Alkami Technology in a report on Thursday, January 29th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alkami Technology in a research report on Wednesday, January 21st. Barclays decreased their target price on shares of Alkami Technology from $30.00 to $25.00 and set an “equal weight” rating on the stock in a report on Friday, October 31st. The Goldman Sachs Group cut their price target on shares of Alkami Technology from $29.00 to $26.00 and set a “neutral” rating for the company in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 18th. Five research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Alkami Technology currently has a consensus rating of “Hold” and an average target price of $32.29.

Alkami Technology Stock Performance

The stock has a market cap of $1.63 billion, a price-to-earnings ratio of -36.00 and a beta of 0.53. The company has a quick ratio of 2.17, a current ratio of 2.17 and a debt-to-equity ratio of 1.08. The company has a 50 day simple moving average of $20.42 and a 200 day simple moving average of $22.07.

Insider Buying and Selling

In related news, insider Douglas A. Linebarger sold 8,179 shares of the stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $20.34, for a total value of $166,360.86. Following the completion of the transaction, the insider owned 221,751 shares of the company’s stock, valued at $4,510,415.34. This represents a 3.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 18.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. General Atlantic L.P. boosted its holdings in shares of Alkami Technology by 24.3% during the 3rd quarter. General Atlantic L.P. now owns 11,991,480 shares of the company’s stock valued at $297,868,000 after acquiring an additional 2,346,162 shares in the last quarter. Vanguard Group Inc. increased its holdings in Alkami Technology by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 8,414,419 shares of the company’s stock worth $194,121,000 after purchasing an additional 456,275 shares in the last quarter. Westfield Capital Management Co. LP raised its position in Alkami Technology by 33.1% in the fourth quarter. Westfield Capital Management Co. LP now owns 4,118,355 shares of the company’s stock valued at $95,010,000 after purchasing an additional 1,023,297 shares during the last quarter. ArrowMark Colorado Holdings LLC boosted its stake in shares of Alkami Technology by 56.3% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,872,873 shares of the company’s stock valued at $96,202,000 after purchasing an additional 1,394,617 shares in the last quarter. Finally, Alliancebernstein L.P. boosted its stake in shares of Alkami Technology by 13.3% during the third quarter. Alliancebernstein L.P. now owns 3,679,746 shares of the company’s stock valued at $91,405,000 after purchasing an additional 430,632 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors and hedge funds.

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.