Alkami Technology, Inc. (NASDAQ:ALKT) Director Sells $119,250,000.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at approximately $384,781,947.75. This represents a 23.66 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 Price Performance

Shares of NASDAQ ALKT opened at $39.47 on Friday. Alkami Technology, Inc. has a one year low of $21.19 and a one year high of $42.29. The firm has a market cap of $3.97 billion, a PE ratio of -83.98 and a beta of 0.43. The firm has a fifty day moving average of $35.84 and a 200 day moving average of $31.93. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Institutional Investors Weigh In On Alkami Technology

Large investors have recently modified their holdings of the business. Park Place Capital Corp purchased a new stake in shares of Alkami Technology during the third quarter worth $28,000. Advisors Asset Management Inc. grew its holdings in shares of Alkami Technology by 117.9% during the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after buying an additional 631 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in shares of Alkami Technology during the second quarter worth $40,000. Finally, Perkins Coie Trust Co purchased a new stake in shares of Alkami Technology during the second quarter worth $85,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ALKT. JMP Securities boosted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a research note on Tuesday, October 29th. Needham & Company LLC boosted their target price on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Barclays boosted their target price on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. The Goldman Sachs Group boosted their target price on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Finally, Craig Hallum boosted their target price on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Three investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Alkami Technology currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

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.