Insider Selling: Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells 3,000,000 Shares of Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the sale, the director now directly owns 9,680,049 shares of the company’s stock, valued at approximately $384,781,947.75. This trade represents a 23.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Tuesday, November 12th, Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock. The shares were sold at an average price of $37.50, for a total transaction of $14,062,500.00.

Alkami Technology Stock Performance

NASDAQ ALKT traded down $0.41 during midday trading on Wednesday, hitting $39.28. The company had a trading volume of 714,636 shares, compared to its average volume of 522,625. The firm has a fifty day simple moving average of $35.52 and a two-hundred day simple moving average of $31.83. The stock has a market cap of $3.95 billion, a price-to-earnings ratio of -83.57 and a beta of 0.43. Alkami Technology, Inc. has a fifty-two week low of $21.19 and a fifty-two week high of $42.29. The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05.

Institutional Trading of Alkami Technology

Several large investors have recently added to or reduced their stakes in ALKT. Park Place Capital Corp bought a new stake in shares of Alkami Technology during the 3rd quarter valued at $28,000. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% in the 3rd quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock valued at $37,000 after acquiring an additional 631 shares during the period. Blue Trust Inc. raised its holdings in Alkami Technology by 507.0% during the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares during the period. Point72 Asset Management L.P. acquired a new stake in Alkami Technology during the 2nd quarter worth approximately $40,000. Finally, Covestor Ltd raised its holdings in Alkami Technology by 6,300.0% during the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after buying an additional 2,646 shares during the period. 54.97% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on ALKT. The Goldman Sachs Group increased their price objective on shares of Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Lake Street Capital increased their price objective on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a report on Thursday, August 1st. Needham & Company LLC raised their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. JMP Securities upped their price target on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research report on Tuesday, October 29th. Finally, Craig Hallum increased their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

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.