JPMorgan Chase & Co. Issues Positive Forecast for Alkami Technology (NASDAQ:ALKT) Stock Price

Alkami Technology (NASDAQ:ALKT) had its price objective hoisted by JPMorgan Chase & Co. from $42.00 to $45.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the stock.

Other analysts also recently issued reports about the stock. 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 research note on Tuesday, October 29th. Barclays lifted their target price on Alkami Technology from $35.00 to $41.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Craig Hallum raised their price target on shares of Alkami Technology from $38.00 to $45.00 and gave the stock a “buy” rating in a report on Thursday, October 31st. Needham & Company LLC upped their price objective on shares of Alkami Technology from $43.00 to $54.00 and gave the company a “buy” rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group boosted their price target on shares of Alkami Technology from $34.00 to $39.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Two 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 has an average rating of “Moderate Buy” and an average target price of $40.88.

Alkami Technology Trading Up 5.0 %

Alkami Technology stock opened at $39.76 on Monday. Alkami Technology has a 1 year low of $22.33 and a 1 year high of $42.29. The firm’s 50 day moving average price is $37.24 and its two-hundred day moving average price is $32.72. The firm has a market cap of $4.00 billion, a price-to-earnings ratio of -84.60 and a beta of 0.46. The company has a debt-to-equity ratio of 0.05, a quick ratio of 3.52 and a current ratio of 3.52.

Insider Buying and Selling

In related news, Director Atlantic L.P. General sold 2,500,000 shares of the stock in a transaction dated 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 completion of the transaction, the director now owns 13,055,049 shares of the company’s stock, valued at $489,564,337.50. This represents a 16.07 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Atlantic Genpar (Bermu General sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $39.75, for a total value of $119,250,000.00. Following the transaction, the director now owns 9,680,049 shares of the company’s stock, valued at $384,781,947.75. This trade represents a 23.66 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 6,322,426 shares of company stock valued at $244,011,320. Company insiders own 25.90% of the company’s stock.

Institutional Trading of Alkami Technology

Several hedge funds have recently modified their holdings of ALKT. nVerses Capital LLC raised its holdings in shares of Alkami Technology by 16.1% in the third quarter. nVerses Capital LLC now owns 3,600 shares of the company’s stock valued at $114,000 after buying an additional 500 shares during the last quarter. Advisors Asset Management Inc. raised its position in shares of Alkami Technology by 117.9% during 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 during the period. Harbor Capital Advisors Inc. lifted its stake in Alkami Technology by 12.7% in the third quarter. Harbor Capital Advisors Inc. now owns 6,112 shares of the company’s stock valued at $193,000 after buying an additional 691 shares in the last quarter. Park Place Capital Corp bought a new position in Alkami Technology during the 3rd quarter worth about $28,000. Finally, Blue Trust Inc. grew its holdings in shares of Alkami Technology by 507.0% during the third quarter. Blue Trust Inc. now owns 1,214 shares of the company’s stock worth $38,000 after buying an additional 1,014 shares in the last quarter. Institutional investors and hedge funds own 54.97% of the company’s stock.

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.