Shares of Alkami Technologies (NASDAQ: ALKT – Rated ) gapped ahead of trading on Tuesday after an insider increased his stake in the company. The stock had previously closed at $12.73, but opened at $13.74. Alkami Technology shares last traded at $13.56 on a volume of 1,357 shares. Specifically, Chief Financial Officer W Bryan Hill acquired 40,000 shares of Alkami Technology stock in a trade on Monday, December 5th. These shares were purchased at an average cost of $12.97 per share for a total value of $518,800.00. Following the acquisition, the CFO now owns 228,507 shares of the company, worth $2,963,735.79. The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission, which can be accessed through the SEC website. In related news, Chief Financial Officer W Bryan Hill purchased 40,000 shares of the company’s stock in trading on Monday, December 5th. These shares were purchased at an average price of $12.97 per share for a total value of $518,800.00. Following the acquisition, the CFO now owns 228,507 shares of the company, worth approximately $2,963,735.79. The acquisition has been disclosed in a filing with the U.S. Securities and Exchange Commission, available at this hyperlink. Additionally, insider Douglas A. Linebarger sold 100,000 shares of company stock in a trade dated Tuesday, November 15th. These shares sold at an average price of $13.98 for a total value of $1,398,000.00. After the completion of the sale, the insider now directly holds 90,382 shares of the company’s stock, worth $1,263,540.36. The disclosure for this sale can be found here. In the past 90 days, insiders have sold a total of 190,600 shares of the company stock worth $2,580,570. Insiders own 40.00% of the company.
Wall Street analysts weigh in
Separately, Stephens assumed coverage on shares of Alkami Technology in a report on Wednesday, September 14th. They issued an “overweight” rating and an $18.00 price target for the company. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $21.67.
Alkami Technology shares rose 5.3%
The company’s 50-day moving average is $14.07 and its 200-day moving average is $14.08. The company has a current ratio of 6.38, a quick ratio of 6.38, and a debt-to-equity ratio of 0.25.
Hedge Funds Eye Alkami Technology
A number of large investors have recently increased or decreased their stakes in ALKT. Credit Suisse AG boosted its stake in Alkami Technology by 7.0% in the second quarter. Credit Suisse AG now owns 12,515 shares of the company, worth $174,000, after purchasing an additional 818 shares during that period. M&T Bank Corp raised its stake in Alkami Technology by 1.7 percent in the third quarter. M&T Bank Corp now owns 70,192 shares of the company worth $1,056,000 after acquiring an additional 1,196 shares last quarter. Ensign Peak Advisors Inc increased its stake in Alkami Technology by 84.1% in the third quarter. Ensign Peak Advisors Inc now owns 2,890 shares of the company worth $43,000 after acquiring an additional 1,320 shares in the period. Legal & General Group Plc increased its stake in Alkami Technology by 20.5% in the second quarter. Legal & General Group Plc now owns 8,528 shares of the company worth $118,000 after buying an additional 1,453 shares last quarter. Finally, Charles Schwab Investment Management Company. In the first quarter, it increased its stake in Alkami Technology by 3.0%. Schwab Investment Management now owns 63,382 shares of the company worth $907,000 after buying an additional 1,835 shares last quarter. Institutional investors own 52.74% of the company.
Alkami Technology Company Profile
Alkami Technology, Inc provides a cloud-based digital banking platform in the United States. The company’s platform allows financial institutions to onboard and attract new users, accelerate revenue and improve operational efficiency, all powered by a proprietary, cloud-based, multi-tenant architecture.
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