Alkami Technology (NASDAQ:ALKT) Sees Strong Trading Volume – Should You Buy?

Shares of Alkami Technology, Inc. (NASDAQ:ALKT) saw unusually-high trading volume on Tuesday . Approximately 289,933 shares traded hands during trading, a decline of 44% from the previous session’s volume of 513,337 shares.The stock last traded at $39.98 and had previously closed at $42.22.

Analyst Ratings Changes

ALKT has been the topic of several research reports. Craig Hallum upped their price target on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a report on Thursday, October 31st. The Goldman Sachs Group boosted their target price on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research report on Friday, November 1st. Needham & Company LLC upped their target price on Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, October 31st. Lake Street Capital lifted their price target on Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a research note on Thursday, August 1st. Finally, JMP Securities upped their price objective 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. Three equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Stock Down 1.0 %

The company has a quick ratio of 3.52, a current ratio of 3.52 and a debt-to-equity ratio of 0.05. The firm has a market capitalization of $3.95 billion, a PE ratio of -83.57 and a beta of 0.43. The business’s 50-day moving average price is $35.52 and its 200-day moving average price is $31.83.

Insider Buying and Selling at Alkami Technology

In other Alkami Technology news, insider Stephen Bohanon sold 15,605 shares of the company’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $31.59, for a total value of $492,961.95. Following the transaction, the insider now directly owns 388,181 shares of the company’s stock, valued at $12,262,637.79. This represents a 3.86 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of Alkami Technology stock in a transaction dated Monday, September 9th. The shares were sold at an average price of $29.75, for a total value of $1,123,300.50. Following the sale, the chief executive officer now owns 1,056,207 shares of the company’s stock, valued at approximately $31,422,158.25. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 6,360,428 shares of company stock worth $244,916,568. 25.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Trust Point Inc. bought a new stake in Alkami Technology in the third quarter worth $1,029,000. Oppenheimer Asset Management Inc. acquired a new stake in shares of Alkami Technology in the third quarter worth about $1,860,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Alkami Technology during the 3rd quarter worth about $1,115,000. Principal Financial Group Inc. acquired a new position in shares of Alkami Technology during the 3rd quarter valued at about $875,000. Finally, Driehaus Capital Management LLC increased its holdings in shares of Alkami Technology by 56.2% during the 2nd quarter. Driehaus Capital Management LLC now owns 1,091,276 shares of the company’s stock valued at $31,080,000 after acquiring an additional 392,483 shares during the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.