Short Interest in Alkami Technology, Inc. (NASDAQ:ALKT) Increases By 37.2%

Alkami Technology, Inc. (NASDAQ:ALKT) was the recipient of a large increase in short interest in the month of December. As of December 15th, there was short interest totalling 1,150,000 shares, an increase of 37.2% from the November 30th total of 838,400 shares. Approximately 1.8% of the company’s shares are sold short. Based on an average daily volume of 820,300 shares, the short-interest ratio is presently 1.4 days.

Insider Transactions at Alkami Technology

In other news, CFO W Bryan Hill sold 100,000 shares of the stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $39.77, for a total value of $3,977,000.00. Following the completion of the transaction, the chief financial officer now owns 353,841 shares of the company’s stock, valued at approximately $14,072,256.57. This represents a 22.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Atlantic L.P. General sold 2,500,000 shares of Alkami Technology stock in a transaction that occurred on Friday, November 8th. The shares were sold at an average price of $37.50, for a total value of $93,750,000.00. Following the sale, the director now owns 13,055,049 shares in the company, valued at $489,564,337.50. This represents a 16.07 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 6,417,380 shares of company stock valued at $248,273,935. Company insiders own 38.00% of the company’s stock.

Institutional Investors Weigh In On Alkami Technology

Institutional investors have recently modified their holdings of the business. Trust Point Inc. bought a new position in Alkami Technology during the 3rd quarter valued at about $1,029,000. Oppenheimer Asset Management Inc. purchased a new position in shares of Alkami Technology during the third quarter valued at approximately $1,860,000. FMR LLC lifted its position in Alkami Technology by 10.2% during the third quarter. FMR LLC now owns 1,523,747 shares of the company’s stock valued at $48,059,000 after purchasing an additional 141,319 shares during the period. Geode Capital Management LLC boosted its holdings in Alkami Technology by 16.4% in the third quarter. Geode Capital Management LLC now owns 1,231,987 shares of the company’s stock worth $38,865,000 after purchasing an additional 173,394 shares during the last quarter. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Alkami Technology in the 3rd quarter worth approximately $1,115,000. 54.97% of the stock is owned by hedge funds and other institutional investors.

Alkami Technology Stock Down 3.4 %

Shares of Alkami Technology stock traded down $1.37 on Friday, reaching $38.53. The company’s stock had a trading volume of 629,136 shares, compared to its average volume of 544,830. Alkami Technology has a 52 week low of $22.62 and a 52 week high of $42.29. The firm’s fifty day simple moving average is $38.60 and its two-hundred day simple moving average is $33.71. 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 market capitalization of $3.87 billion, a price-to-earnings ratio of -81.98 and a beta of 0.46.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ALKT. Craig Hallum boosted their price objective on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a research note on Thursday, October 31st. JPMorgan Chase & Co. boosted their price target on Alkami Technology from $42.00 to $45.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. The Goldman Sachs Group upped 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. Needham & Company LLC boosted their target price on Alkami Technology from $43.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Finally, JMP Securities increased their target price 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. Two equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Alkami Technology has an average rating of “Moderate Buy” and a consensus price target of $40.88.

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.