Alkami Technology Director Sells 2.5 Million Shares

On November 8th, a significant transaction took place involving Alkami Technology, Inc. (NASDAQ:ALKT). The Director, Atlantic L.P. General, sold 2,500,000 shares of the company's stock. This sale was conducted at an average price of $37.50 per share, totaling an impressive value of $93,750,000.00. Following this sale, the director retains ownership of 13,055,049 shares, with a current valuation of about $489,564,337.50. This sale reflects a 0.00% decrease in their overall position in the company. The transaction details were formally disclosed in a document filed with the Securities and Exchange Commission (SEC), which is publicly available for review.

Alkami Technology Price Performance

In trading on Friday, shares of Alkami Technology moved up by $0.09, reaching a price of $37.85. Approximately 1,384,405 shares changed hands, significantly higher than the company's average trading volume of 484,019 shares. Over the past year, the stock has fluctuated, with a 52-week low of $20.38 and a high of $41.36. Currently, Alkami Technology has a market capitalization of $3.80 billion, with a price-to-earnings ratio of -80.34 and a beta of 0.43. The stock has a robust quick ratio and current ratio of 3.52, indicating strong liquidity, while its debt-to-equity ratio stands at a low 0.05.

Wall Street Analyst Opinions

Recently, several equities analysts have shared their views on Alkami Technology. The Goldman Sachs Group raised its price target for the stock from $34.00 to $39.00, maintaining a 'neutral' rating in their research note dated November 1st. JMP Securities also increased their price objective from $38.00 to $41.00, giving the company a 'market outperform' rating in their analysis on October 29th. Lake Street Capital bumped their target from $30.00 to $36.00, rating the stock as a 'buy' back in August. Craig Hallum revised their price target upwards from $38.00 to $45.00 in a report published on October 31st, while Needham & Company LLC set their new target at $54.00, reflecting their 'buy' rating on the same day. Overall, analysts track the stock with three holding ratings and seven indicating a buy, suggesting an average rating of 'Moderate Buy' with a consensus target price of $37.44.

Institutional Trading Activity

Institutional investors have also been active in trading Alkami Technology shares. Driehaus Capital Management LLC raised its stake by 56.2% during the second quarter, now owning 1,091,276 shares valued at approximately $31,080,000. Similarly, Millennium Management LLC increased its holdings by 124.1%, acquiring a total of 514,677 shares worth about $14,658,000. Jacobs Levy Equity Management entered a new stake in the company during the first quarter with a valuation of $5,569,000. Massachusetts Financial Services also boosted its position by 13.0% during the second quarter, currently owning 1,570,179 shares valued at $44,719,000. Furthermore, Lisanti Capital Growth LLC added a new stake valued at $3,316,000. It is noteworthy that 54.97% of the stock is held by hedge funds and other institutional investors.

About Alkami Technology

Alkami Technology, Inc. specializes in providing cloud-based digital banking solutions across the United States. The company's flagship Alkami Platform enables financial institutions to effectively onboard new users, drive revenue growth, and improve operational efficiency through its proprietary cloud-based and multi-tenant architecture.

Alkami, Shares, Transaction