Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Up 34.6% in March

Alkami Technology, Inc. (NASDAQ:ALKT) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 4,400,000 shares, a growth of 34.6% from the March 15th total of 3,270,000 shares. Based on an average trading volume of 1,160,000 shares, the short-interest ratio is currently 3.8 days. Approximately 6.8% of the company’s shares are sold short.

Insider Buying and Selling

In other Alkami Technology news, CFO W Bryan Hill sold 17,409 shares of the company’s stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $30.41, for a total value of $529,407.69. Following the completion of the sale, the chief financial officer now directly owns 450,620 shares of the company’s stock, valued at approximately $13,703,354.20. This represents a 3.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas A. Linebarger sold 4,358 shares of Alkami Technology stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $30.41, for a total transaction of $132,526.78. Following the completion of the transaction, the insider now owns 244,404 shares in the company, valued at approximately $7,432,325.64. This trade represents a 1.75 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Alliancebernstein L.P. increased its position in Alkami Technology by 5,747.1% during the fourth quarter. Alliancebernstein L.P. now owns 2,707,329 shares of the company’s stock worth $99,305,000 after acquiring an additional 2,661,027 shares during the period. Whale Rock Capital Management LLC bought a new stake in shares of Alkami Technology during the 4th quarter valued at approximately $78,878,000. Champlain Investment Partners LLC bought a new position in shares of Alkami Technology in the 4th quarter valued at $57,772,000. Invesco Ltd. boosted its stake in shares of Alkami Technology by 353.1% during the fourth quarter. Invesco Ltd. now owns 1,456,136 shares of the company’s stock valued at $53,411,000 after purchasing an additional 1,134,746 shares in the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in Alkami Technology by 278.2% during the 4th quarter. JPMorgan Chase & Co. now owns 1,435,370 shares of the company’s stock worth $52,649,000 after acquiring an additional 1,055,828 shares during the last quarter. 54.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. The Goldman Sachs Group reduced their price target on shares of Alkami Technology from $39.00 to $32.00 and set a “neutral” rating for the company in a report on Monday, March 3rd. Barclays cut their target price on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research report on Monday, April 14th. Finally, Stephens upgraded shares of Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 target price for the company in a research report on Thursday, March 13th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.38.

Alkami Technology Trading Down 0.6 %

Shares of NASDAQ:ALKT opened at $24.75 on Friday. The company’s 50-day moving average price is $27.18 and its two-hundred day moving average price is $33.52. Alkami Technology has a one year low of $21.70 and a one year high of $42.29. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52. The stock has a market capitalization of $2.55 billion, a PE ratio of -52.66 and a beta of 0.56.

Alkami Technology (NASDAQ:ALKT) last issued its earnings results on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The firm had revenue of $89.66 million during the quarter, compared to analyst estimates of $89.63 million. On average, equities analysts forecast that Alkami Technology will post -0.34 EPS for the current fiscal year.

Alkami Technology Company Profile

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.