Alkami Technology, Inc. (NASDAQ:ALKT) Director Purchases $249,772.00 in Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Joseph P. Payne purchased 8,200 shares of Alkami Technology stock in a transaction dated Thursday, May 15th. The shares were purchased at an average price of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the acquisition, the director now owns 21,128 shares of the company’s stock, valued at approximately $643,558.88. The trade was a 63.43% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Alkami Technology Stock Up 1.3%

Shares of NASDAQ:ALKT opened at $30.89 on Monday. 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 company has a market capitalization of $3.18 billion, a PE ratio of -65.72 and a beta of 0.56. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29. The business has a fifty day moving average price of $26.33 and a two-hundred day moving average price of $32.44.

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

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Essex Investment Management Co. LLC purchased a new stake in shares of Alkami Technology in the 4th quarter valued at about $34,000. Perkins Coie Trust Co grew its position in shares of Alkami Technology by 62.5% in the 1st quarter. Perkins Coie Trust Co now owns 1,300 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the last quarter. Versant Capital Management Inc purchased a new position in shares of Alkami Technology during the first quarter valued at approximately $36,000. Quarry LP purchased a new position in shares of Alkami Technology during the fourth quarter valued at approximately $61,000. Finally, Amalgamated Bank increased its stake in shares of Alkami Technology by 50.8% during the first quarter. Amalgamated Bank now owns 2,091 shares of the company’s stock valued at $55,000 after buying an additional 704 shares during the period. Institutional investors own 54.97% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Stephens upgraded Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price target on the stock in a report on Thursday, March 13th. Lake Street Capital cut their price target on Alkami Technology from $47.00 to $41.00 and set a “buy” rating on the stock in a report on Thursday, May 1st. Barclays lowered their target price on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating on the stock in a research report on Monday, April 14th. The Goldman Sachs Group lowered their target price on Alkami Technology from $39.00 to $32.00 and set a “neutral” rating on the stock in a research report on Monday, March 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $46.00 price target on shares of Alkami Technology in a research report on Thursday, May 1st. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, Alkami Technology has a consensus rating of “Moderate Buy” and a consensus target price of $39.88.

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.