Alkami Technology, Inc. (NASDAQ:ALKT) Short Interest Update

Alkami Technology, Inc. (NASDAQ:ALKT) saw a significant increase in short interest in January. As of January 15th, there was short interest totalling 1,450,000 shares, an increase of 26.1% from the December 31st total of 1,150,000 shares. Approximately 2.3% of the shares of the stock are short sold. Based on an average trading volume of 849,500 shares, the short-interest ratio is currently 1.7 days.

Alkami Technology Trading Down 0.5 %

NASDAQ:ALKT opened at $36.07 on Friday. The company has a 50-day moving average price of $37.58 and a 200-day moving average price of $34.95. Alkami Technology has a 12 month low of $22.65 and a 12 month high of $42.29. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The stock has a market cap of $3.63 billion, a price-to-earnings ratio of -76.74 and a beta of 0.48.

Insider Activity at Alkami Technology

In other Alkami Technology news, CFO W Bryan Hill sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $36.31, for a total value of $3,631,000.00. Following the completion of the transaction, the chief financial officer now owns 471,403 shares of the company’s stock, valued at $17,116,642.93. The trade was a 17.50 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 375,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $37.50, for a total transaction of $14,062,500.00. Following the completion of the sale, the director now owns 12,680,049 shares of the company’s stock, valued at approximately $475,501,837.50. The trade was a 2.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,517,380 shares of company stock valued at $251,616,935. Corporate insiders own 38.00% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Park Place Capital Corp bought a new position in shares of Alkami Technology in the 3rd quarter worth about $28,000. Advisors Asset Management Inc. increased its stake 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 worth $37,000 after acquiring an additional 631 shares in the last quarter. Blue Trust Inc. increased its stake in shares of Alkami Technology by 507.0% in the 3rd quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after acquiring an additional 1,014 shares in the last quarter. Point72 Asset Management L.P. bought a new position in shares of Alkami Technology in the 2nd quarter worth about $40,000. Finally, Covestor Ltd increased its stake in shares of Alkami Technology by 6,300.0% in the 3rd quarter. Covestor Ltd now owns 2,688 shares of the company’s stock worth $85,000 after acquiring an additional 2,646 shares in the last quarter. 54.97% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ALKT has been the subject of several analyst reports. The Goldman Sachs Group increased their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. JMP Securities increased 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. Craig Hallum increased their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Needham & Company LLC increased their price target on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research report on Thursday, October 31st. Finally, JPMorgan Chase & Co. increased their price target on shares of Alkami Technology from $42.00 to $45.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Alkami Technology presently has an average rating of “Moderate Buy” and a consensus price target of $43.00.

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.