Alkami Technology (NASDAQ:ALKT) Shares Down 8.2% – Time to Sell?

Alkami Technology, Inc. (NASDAQ:ALKT)’s share price traded down 8.2% during mid-day trading on Thursday . The company traded as low as $16.08 and last traded at $16.0640. 581,772 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 1,881,970 shares. The stock had previously closed at $17.50.

Analyst Ratings Changes

A number of research firms recently commented on ALKT. JPMorgan Chase & Co. lowered their price target on shares of Alkami Technology from $38.00 to $22.00 and set an “overweight” rating for the company in a report on Wednesday, February 18th. Citizens Jmp decreased their price objective on shares of Alkami Technology from $40.00 to $28.00 and set a “market outperform” rating for the company in a report on Thursday, February 26th. Weiss Ratings restated a “sell (d-)” rating on shares of Alkami Technology in a report on Wednesday, January 21st. Barclays decreased their price objective on shares of Alkami Technology from $25.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, February 26th. Finally, Needham & Company LLC decreased their price target on shares of Alkami Technology from $32.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, February 26th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Alkami Technology presently has an average rating of “Hold” and an average price target of $26.67.

Alkami Technology Stock Performance

The company has a current ratio of 2.09, a quick ratio of 2.09 and a debt-to-equity ratio of 1.01. The company’s 50 day moving average is $16.71 and its 200-day moving average is $19.82. The company has a market capitalization of $1.71 billion, a P/E ratio of -34.76 and a beta of 0.57.

Insider Buying and Selling

In other Alkami Technology news, Director Atlantic Genpar (Bermu General purchased 500,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 12th. The stock was bought at an average cost of $18.33 per share, for a total transaction of $9,165,000.00. Following the purchase, the director directly owned 15,379,451 shares in the company, valued at $281,905,336.83. The trade was a 3.36% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Douglas A. Linebarger sold 5,518 shares of the stock in a transaction dated Monday, March 2nd. The stock was sold at an average price of $16.90, for a total transaction of $93,254.20. Following the completion of the transaction, the insider owned 216,233 shares of the company’s stock, valued at approximately $3,654,337.70. The trade was a 2.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders purchased 3,351,515 shares of company stock worth $59,829,413 and sold 13,739 shares worth $232,189. 17.10% of the stock is owned by insiders.

Institutional Trading of Alkami Technology

Institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its position in Alkami Technology by 398.3% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,146 shares of the company’s stock valued at $35,000 after purchasing an additional 916 shares during the last quarter. First Horizon Corp purchased a new stake in Alkami Technology during the 3rd quarter valued at about $30,000. Smartleaf Asset Management LLC grew its position in Alkami Technology by 91.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,447 shares of the company’s stock valued at $34,000 after purchasing an additional 692 shares during the last quarter. AlphaQuest LLC grew its position in Alkami Technology by 54.5% during the 3rd quarter. AlphaQuest LLC now owns 1,542 shares of the company’s stock valued at $38,000 after purchasing an additional 544 shares during the last quarter. Finally, Global Retirement Partners LLC purchased a new stake in Alkami Technology during the 4th quarter valued at about $37,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Company Profile

Alkami Technology, Inc is a provider of cloud-based digital banking and engagement solutions tailored for banks and credit unions. The company’s platform offers a comprehensive suite of online and mobile banking features, including bill payment, peer-to-peer transfers, card management, streamlined account opening and real-time alerts, all designed to enhance the end-user experience and drive customer loyalty.

Built on a multi-tenant, software-as-a-service (SaaS) architecture hosted in the cloud, Alkami’s platform leverages modern APIs and a partner ecosystem to integrate third-party fintech applications and services.