Alkami Technology, Inc. (NASDAQ:ALKT – Get Rating ) was the target of a significant drop in short interest during the month of August. As of August 15th, there was short interest in 927,500 shares, a decrease of 28.7% from the July 31st total of 1,300,000 shares. Based on an average daily volume of 295,300 shares, the days-to-cover ratio is currently 3.1 days. Approximately 2.7% of the company’s shares are sold.
Insider Buying and Selling
In related news, insider Stephen Bohanon sold 24,232 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $13.81, for a total transaction of $334,643.92. Following the transaction, the insider now directly owns 382,567 shares in the company, valued at $5,283,250.27. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC’s website. In other Alkami Technology news, CFO W Bryan Hill sold 2,889 shares of the business’s stock in a transaction dated Thursday, June 2nd. The shares were sold at an average price of $14.37, for a total value of $41,514.93. Following the transaction, the chief financial officer now directly owns 195,685 shares in the company, valued at $2,811,993.45. The transaction was disclosed in a filing with the SEC, which can be accessed via this link. Also, insider Stephen Bohanon sold 24,232 shares of the business’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $13.81, for a total transaction of $334,643.92. Following the completion of the transaction, the insider now owns 382,567 shares in the company, valued at $5,283,250.27. Disclosure for this sale can be found here. Over the last ninety days, insiders have sold 34,607 shares of company stock worth $480,733. 40.00% of the shares are owned by insiders.
Institutional investors weigh in on Alkami technology
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A number of institutional investors have recently made changes to their positions in the business. D1 Capital Partners LP raised its stake in shares of Alkami Technology by 10.5% in the fourth quarter. D1 Capital Partners LP now owns 5,828,511 shares of the company’s stock valued at $116,920,000 after purchasing an additional 553,511 shares in the last quarter. Vanguard Group Inc. raised its stake in shares of Alkami Technology by 3.4% in the first quarter. Vanguard Group Inc. now owns 2,841,483 shares of the company’s stock worth $40,662,000 after purchasing an additional 92,155 shares in the last quarter. Massachusetts Financial Services Co . MA grew its position in Alkami Technology by 2.8% during the first quarter. Massachusetts Financial Services Co . MA now owns 2,351,035 shares of the company’s stock valued at $33,643,000 after purchasing an additional 64,472 shares during the period. Long Path Partners Fund LP purchased a new stake in Alkami Technology during the first quarter valued at $25,297,000. Finally, FMR LLC boosted its position in Alkami Technology by 1.3% during the second quarter. FMR LLC now owns 1,094,969 shares of the company’s stock valued at $15,209,000 after purchasing an additional 13,677 shares during the period. Hedge funds and other institutional investors own 49.50% of the company’s shares.
Alkami Technology Award Performance
Shares of NASDAQ:ALKT traded down $0.52 during trading on Friday, hitting $14.73. The company had a trading volume of 256,257 shares, compared to its average volume of 334,150. The company has a fifty day moving average of $14.15 and a two hundred day moving average of $13.64. The stock has a market capitalization of $1.34 billion, a P/E ratio of -22.66 and a beta of 0.53. Alkami Technology has a 12-month low of $9.23 and a 12-month high of $32.50. The company has a current ratio of 6.97, a quick ratio of 6.97, and a debt-to-equity ratio of 0.25.
Alkami Technology (NASDAQ:ALKT – Get Rating ) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported ($0.20) EPS for the quarter, missing analysts’ consensus estimates of ($0.19) by ($0.01). The company had revenue of $50.53 million during the quarter, compared to the consensus estimate of $47.98 million. Alkami Technology had a negative return on equity of 15.72% and a negative net margin of 32.79%. During the same period a year ago, the company earned ($0.12) EPS. equities research analysts predict that Alkami Technology will post -0.74 earnings per share for the current year.
Analysts set new price targets
A number of research firms have weighed in on ALKT. Citigroup cut their target price on shares of Alkami Technology from $32.00 to $18.00 and set a “buy” rating on the stock in a research note on Tuesday, June 21st. KeyCorp reduced their price objective on shares of Alkami Technology from $20.00 to $18.00 and set an “overweight” rating on the stock in a research report on Thursday, July 7th. Needham & Company LLC boosted their price objective on shares of Alkami Technology from $17.00 to $20.00 and gave the company a “buy” rating in a research report on Thursday, August 4th. Finally, Barclays boosted their price objective on shares of Alkami Technology from $15.00 to $16.00 and gave the company an “equal weight” rating in a research report on Thursday, August 4th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Moderate Buy” and an average price target of $22.40, according to data from MarketBeat.
Alkami Technology Company Profile
Alkami Technology, Inc provides a cloud-based digital banking platform in the United States. The company’s platform allows financial institutions to onboard and engage new users, accelerate revenue and increase operational efficiency, supported by a proprietary, cloud-based, multi-tenant architecture.
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