Alkami Technology (NASDAQ:ALKT) Sees Unusually-High Trading Volume – Should You Buy?

Alkami Technology, Inc. (NASDAQ:ALKT) saw an uptick in trading volume on Wednesday . 386,512 shares changed hands during trading, a decline of 26% from the previous session’s volume of 525,392 shares.The stock last traded at $39.76 and had previously closed at $38.42.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ALKT. Craig Hallum lifted their target price on Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research report on Thursday, October 31st. Barclays lifted their price target on Alkami Technology from $35.00 to $41.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. JMP Securities lifted their price target on Alkami Technology from $38.00 to $41.00 and gave the stock a “market outperform” rating in a research note on Tuesday, October 29th. The Goldman Sachs Group lifted their price target on Alkami Technology from $34.00 to $39.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, 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. Three equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $37.44.

Alkami Technology Stock Performance

The stock has a market cap of $3.96 billion, a P/E ratio of -81.74 and a beta of 0.46. The company has a fifty day moving average of $36.13 and a 200 day moving average of $32.20. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Insiders Place Their Bets

In other Alkami Technology news, insider Stephen Bohanon sold 15,605 shares of Alkami Technology stock in a transaction that occurred on Thursday, September 5th. The shares were sold at an average price of $31.59, for a total transaction of $492,961.95. Following the transaction, the insider now directly owns 388,181 shares in the company, valued at approximately $12,262,637.79. The trade was a 3.86 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alex Shootman sold 37,758 shares of the business’s stock in a transaction on Monday, September 9th. The shares were sold at an average price of $29.75, for a total transaction of $1,123,300.50. Following the transaction, the chief executive officer now owns 1,056,207 shares in the company, valued at approximately $31,422,158.25. This represents a 3.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,360,428 shares of company stock worth $244,916,568. Corporate insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently modified their holdings of the stock. nVerses Capital LLC grew its holdings in shares of Alkami Technology by 16.1% during the 3rd quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after acquiring an additional 500 shares in the last quarter. Advisors Asset Management Inc. boosted its holdings in Alkami Technology by 117.9% in the third quarter. Advisors Asset Management Inc. now owns 1,166 shares of the company’s stock worth $37,000 after purchasing an additional 631 shares in the last quarter. Harbor Capital Advisors Inc. boosted its holdings 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 in the last quarter. Park Place Capital Corp bought a new stake in Alkami Technology in the third quarter worth $28,000. Finally, Blue Trust Inc. boosted its holdings in Alkami Technology by 507.0% in the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after purchasing an additional 1,014 shares in the last quarter. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.