Alkami Technology (NASDAQ:ALKT) Sees Large Volume Increase – What’s Next?

Alkami Technology, Inc. (NASDAQ:ALKT) saw unusually-strong trading volume on Thursday . Approximately 751,941 shares were traded during trading, an increase of 62% from the previous session’s volume of 463,578 shares.The stock last traded at $37.74 and had previously closed at $39.86.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Lake Street Capital lifted their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the company a “buy” rating in a research report on Thursday, August 1st. Barclays lifted their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum increased their target price on Alkami Technology from $38.00 to $45.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Needham & Company LLC lifted their price target on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group increased their price objective on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Stock Down 5.1 %

The stock has a market cap of $3.80 billion, a P/E ratio of -80.26 and a beta of 0.43. 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 company has a 50-day simple moving average of $33.47 and a two-hundred day simple moving average of $30.53.

Insider Activity at Alkami Technology

In other news, CFO W Bryan Hill sold 69,511 shares of the stock in a transaction dated Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total transaction of $2,317,496.74. Following the completion of the sale, the chief financial officer now directly owns 489,340 shares in the company, valued at approximately $16,314,595.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO W Bryan Hill sold 69,511 shares of Alkami Technology stock in a transaction on Tuesday, August 27th. The shares were sold at an average price of $33.34, for a total value of $2,317,496.74. Following the sale, the chief financial officer now owns 489,340 shares in the company, valued at $16,314,595.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Stephen Bohanon sold 35,893 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $33.60, for a total transaction of $1,206,004.80. Following the transaction, the insider now directly owns 403,786 shares in the company, valued at approximately $13,567,209.60. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 3,565,083 shares of company stock worth $111,323,268 in the last three months. 38.00% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

Several institutional investors and hedge funds have recently bought and sold shares of ALKT. nVerses Capital LLC raised its position in shares of Alkami Technology by 16.1% in the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock worth $114,000 after acquiring an additional 500 shares in the last quarter. Harbor Capital Advisors Inc. grew its stake in Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock worth $193,000 after purchasing an additional 691 shares during the period. Park Place Capital Corp bought a new position in Alkami Technology in the third quarter worth $28,000. Blue Trust Inc. lifted its position in Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock valued at $38,000 after buying an additional 1,014 shares during the period. Finally, Swiss National Bank lifted its position in Alkami Technology by 1.3% during the first quarter. Swiss National Bank now owns 84,700 shares of the company’s stock valued at $2,081,000 after buying an additional 1,100 shares during the period. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.