Joseph P. Payne Buys 8,200 Shares of Alkami Technology, Inc. (NASDAQ:ALKT) Stock

Alkami Technology, Inc. (NASDAQ:ALKT) Director Joseph P. Payne bought 8,200 shares of the company’s stock in a transaction on Thursday, May 15th. The stock was bought at an average cost of $30.46 per share, for a total transaction of $249,772.00. Following the completion of the acquisition, the director now directly owns 21,128 shares of the company’s stock, valued at approximately $643,558.88. This represents a 63.43% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Alkami Technology Price Performance

NASDAQ:ALKT opened at $30.89 on Monday. The firm has a market capitalization of $3.18 billion, a price-to-earnings ratio of -65.72 and a beta of 0.56. Alkami Technology, Inc. has a 1 year low of $21.70 and a 1 year high of $42.29. The business has a 50 day simple moving average of $26.33 and a 200-day simple moving average of $32.44. The company has a debt-to-equity ratio of 0.05, a current ratio of 3.52 and a quick ratio of 3.52.

Alkami Technology (NASDAQ:ALKT) last posted its quarterly earnings data on Thursday, February 27th. The company reported ($0.05) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.08 by ($0.13). Alkami Technology had a negative net margin of 14.55% and a negative return on equity of 11.31%. The company had revenue of $89.66 million during the quarter, compared to the consensus estimate of $89.63 million. Equities analysts forecast that Alkami Technology, Inc. will post -0.34 EPS for the current year.

Institutional Investors Weigh In On Alkami Technology

Several hedge funds and other institutional investors have recently modified their holdings of the business. Goldman Sachs Group Inc. increased its holdings in Alkami Technology by 11.1% during the 1st quarter. Goldman Sachs Group Inc. now owns 720,770 shares of the company’s stock worth $18,920,000 after purchasing an additional 71,949 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of Alkami Technology by 236.9% in the 1st quarter. Dynamic Technology Lab Private Ltd now owns 28,015 shares of the company’s stock valued at $735,000 after acquiring an additional 19,700 shares during the period. Select Equity Group L.P. grew its stake in Alkami Technology by 706.8% during the 1st quarter. Select Equity Group L.P. now owns 526,026 shares of the company’s stock worth $13,808,000 after buying an additional 460,827 shares during the last quarter. Petrus Trust Company LTA grew its stake in Alkami Technology by 17.4% during the 1st quarter. Petrus Trust Company LTA now owns 37,943 shares of the company’s stock worth $996,000 after buying an additional 5,634 shares during the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new position in Alkami Technology during the 1st quarter worth $2,439,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. Barclays decreased their price target on Alkami Technology from $35.00 to $30.00 and set an “equal weight” rating for the company in a research note on Monday, April 14th. Lake Street Capital reduced their price objective on Alkami Technology from $47.00 to $41.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. Needham & Company LLC reduced their price target on Alkami Technology from $54.00 to $40.00 and set a “buy” rating for the company in a research report on Thursday, May 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $46.00 price objective on shares of Alkami Technology in a research note on Thursday, May 1st. Finally, Stephens raised Alkami Technology from an “equal weight” rating to an “overweight” rating and set a $40.00 price objective for the company in a research note on Thursday, March 13th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $39.88.

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.