Director of Alkami Technology Sells 2.5 Million Shares

Alkami Technology, Inc. (NASDAQ:ALKT) has recently seen a significant sale of its stock by Director Atlantic L.P. General, who sold 2,500,000 shares on Friday, November 8th. The shares were sold at an average price of $37.50 each, which brought in a total of $93,750,000. Following this transaction, the director maintains ownership of 13,055,049 shares in Alkami Technology, currently valued at around $489,564,337.50. This sale does not significantly alter their ownership stake, indicating a 0.00% change. Details of this transaction were filed with the Securities and Exchange Commission (SEC), and the relevant documentation is accessible through the SEC's website.

Alkami Technology's stock has shown fluctuations in its value recently. On the day of the sale, shares traded up by $0.09 to reach $37.85, with a total of 1,384,405 shares changing hands, surpassing the average trading volume of 484,019 shares. The company has recorded a 52-week low of $20.38 and a high of $41.36. Its market capitalization currently stands at $3.80 billion, with a price-to-earnings ratio of -80.34 and a relatively stable beta of 0.43. Key liquidity ratios include a quick ratio and a current ratio of 3.52, alongside a low debt-to-equity ratio of 0.05.

Recent Analyst Ratings

Several analysts have weighed in on Alkami Technology's prospects. The Goldman Sachs Group raised its price target from $34.00 to $39.00 while maintaining a "neutral" rating as of November 1st. On October 29th, JMP Securities increased its price objective from $38.00 to $41.00, offering a "market outperform" rating. Lake Street Capital boosted its price target from $30.00 to $36.00, rating the stock as a "buy" on August 1st. Furthermore, Craig Hallum elevated its target to $45.00 with a "buy" rating on October 31st, and Needham & Company LLC recommended a target price of $54.00, also rating it a "buy". Presently, three analysts have assigned a hold rating, while seven have given the stock a buy rating, resulting in an average consensus rating of "Moderate Buy" with a target price around $37.44, according to MarketBeat.

Institutional Investor Activity

Institutional trading has been active regarding Alkami Technology. Driehaus Capital Management LLC increased its stake by 56.2% in the second quarter, owning 1,091,276 shares valued at $31,080,000 after acquiring an additional 392,483 shares. Millennium Management LLC expanded its position by 124.1% during the same quarter, holding 514,677 shares worth $14,658,000 after buying 284,977 more shares. In the first quarter, Jacobs Levy Equity Management Inc. established a new stake valued at $5,569,000 in Alkami Technology shares. Massachusetts Financial Services Co. MA also lifted its holding by 13.0% during the second quarter, now controlling 1,570,179 shares valued at $44,719,000 due to the acquisition of 181,194 additional shares. In total, hedge funds and institutional investors own approximately 54.97% of the company's stock.

About Alkami Technology

Alkami Technology, Inc. specializes in providing cloud-based digital banking solutions to institutions in the United States. Their Alkami Platform facilitates financial organizations in onboarding and engaging new customers while enhancing revenue and operational efficiency through a proprietary, cloud-based, multi-tenant architecture.

Alkami, Technology, Stock