Atlantic Genpar (Bermu General Sells 3,000,000 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the firm’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $39.75, for a total transaction of $119,250,000.00. Following the transaction, the director now directly owns 9,680,049 shares in the company, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Atlantic Genpar (Bermu General also recently made the following trade(s):

• On Tuesday, November 12th, Atlantic Genpar (Bermu General sold 375,000 shares of Alkami Technology stock. The stock was sold at an average price of $37.50, for a total transaction of $14,062,500.00.

Alkami Technology Trading Down 1.0 %

ALKT traded down $0.41 during mid-day trading on Wednesday, hitting $39.28. 714,636 shares of the stock were exchanged, compared to its average volume of 522,625. The company has a current ratio of 3.52, a quick ratio of 3.52 and a debt-to-equity ratio of 0.05. The company has a market cap of $3.95 billion, a PE ratio of -83.57 and a beta of 0.43. The firm’s fifty day moving average is $35.52 and its two-hundred day moving average is $31.83. Alkami Technology, Inc. has a 1-year low of $21.19 and a 1-year high of $42.29.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays boosted their price objective on shares of Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Craig Hallum boosted their target price 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. Lake Street Capital upped their target price on shares of Alkami Technology from $30.00 to $36.00 and gave the stock a “buy” rating in a report on Thursday, August 1st. JMP Securities boosted their target price on shares of Alkami Technology from $38.00 to $41.00 and gave the company a “market outperform” rating in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group upped their price target on Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Three research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.44.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Franklin Resources Inc. grew its stake in shares of Alkami Technology by 4.4% in the 3rd quarter. Franklin Resources Inc. now owns 1,804,825 shares of the company’s stock valued at $61,364,000 after purchasing an additional 75,469 shares during the last quarter. Geode Capital Management LLC raised its holdings in Alkami Technology by 16.4% during 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. Bullseye Asset Management LLC raised its holdings in Alkami Technology by 6.2% during the third quarter. Bullseye Asset Management LLC now owns 85,826 shares of the company’s stock worth $2,707,000 after purchasing an additional 5,000 shares during the last quarter. Barclays PLC increased its position in Alkami Technology by 108.2% during the third quarter. Barclays PLC now owns 95,391 shares of the company’s stock worth $3,009,000 after buying an additional 49,580 shares in the last quarter. Finally, Castleark Management LLC purchased a new position in Alkami Technology during the third quarter worth $6,050,000. Hedge funds and other institutional investors own 54.97% of the company’s stock.

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.