Barclays Lowers Alkami Technology (NASDAQ:ALKT) Price Target to $25.00

Alkami Technology (NASDAQ:ALKT - Get Free Report) had its price target decreased by investment analysts at Barclays from $30.00 to $25.00 in a research report issued on Friday,Benzinga reports. The firm presently has an "equal weight" rating on the stock. Barclays's target price points to a potential upside of 23.32% from the company's previous close.

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Several other research analysts have also recently weighed in on ALKT. Weiss Ratings restated a "sell (d-)" rating on shares of Alkami Technology in a research report on Wednesday, October 8th. Citizens Jmp cut their price objective on Alkami Technology from $46.00 to $40.00 and set a "market outperform" rating on the stock in a report on Friday. Needham & Company LLC lowered their target price on Alkami Technology from $40.00 to $32.00 and set a "buy" rating on the stock in a research note on Friday. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $26.00 target price on shares of Alkami Technology in a research note on Friday. Six analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Alkami Technology currently has a consensus rating of "Moderate Buy" and an average target price of $36.25.

View Our Latest Stock Report on ALKT

Alkami Technology Stock Down 7.8%

ALKT traded down $1.72 during mid-day trading on Friday, reaching $20.27. 2,166,923 shares of the stock were exchanged, compared to its average volume of 1,176,007. The company has a 50 day moving average price of $24.49 and a two-hundred day moving average price of $26.32. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. The stock has a market capitalization of $2.11 billion, a PE ratio of -53.23 and a beta of 0.57. Alkami Technology has a 1 year low of $19.28 and a 1 year high of $42.29.

Insider Buying and Selling

In related news, Director Atlantic Genpar (Bermu General bought 229,391 shares of the stock in a transaction on Wednesday, August 13th. The shares were purchased at an average price of $22.44 per share, for a total transaction of $5,147,534.04. Following the acquisition, the director owned 12,033,436 shares in the company, valued at $270,030,303.84. This represents a 1.94% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CAO Prerna Sachdeva sold 2,967 shares of the stock in a transaction on Tuesday, September 2nd. The stock was sold at an average price of $24.76, for a total value of $73,462.92. Following the transaction, the chief accounting officer directly owned 66,061 shares in the company, valued at approximately $1,635,670.36. This represents a 4.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have bought a total of 1,396,162 shares of company stock worth $29,692,440 in the last quarter. Company insiders own 18.10% of the company's stock.

Hedge Funds Weigh In On Alkami Technology

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in Alkami Technology by 12.9% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,555,374 shares of the company's stock worth $38,635,000 after purchasing an additional 177,547 shares in the last quarter. First Horizon Corp acquired a new position in shares of Alkami Technology during the third quarter valued at about $30,000. State of Alaska Department of Revenue bought a new stake in Alkami Technology in the third quarter valued at about $121,000. Benjamin Edwards Inc. bought a new stake in Alkami Technology in the third quarter valued at about $346,000. Finally, SG Americas Securities LLC bought a new stake in Alkami Technology in the third quarter valued at about $636,000. 54.97% of the stock is currently owned by hedge funds and other institutional investors.

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.

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