Stephen Bohanon, Chief Strategy & Product Officer of Alkami Technology, Inc. (NASDAQ:ALKT), has sold a total of 18,392 shares of company stock, according to a recent filing with the Securities and Exchange Commission. The transactions, which took place on September 6, 2024, amounted to over $548,000.
The shares were sold at prices ranging from $29.602 to $30.6881, with the average selling price being between these values. The first transaction involved the sale of 15,058 shares at an average price of $29.602, while the second sale consisted of 3,334 shares at an average price of $30.6881.
Following the sales, Bohanon's direct ownership in Alkami Technology stands at 373,123 shares. Additionally, the reporting footnotes revealed that Bohanon has indirect ownership that includes shares held by trusts, with 339,116 shares held by Botech Trust, where Bohanon serves as trustee, and an equal number of shares held by KBCouture Trust, with Bohanon's spouse as trustee.
The transactions were made under a pre-arranged 10b5-1 trading plan, which allows company insiders to sell shares at predetermined times to avoid accusations of insider trading. The sales represent a normal part of stock ownership and portfolio management for corporate executives.
Investors often watch insider transactions for insights into management's perspective on the financial health and prospects of their company. However, such sales and purchases can be influenced by various factors and do not necessarily signal a change in company fundamentals.
Alkami Technology, headquartered in Plano, Texas, specializes in providing cloud-based digital banking solutions to banks and credit unions.
In other recent news, Alkami Technology, Inc. has announced a secondary offering of 5 million shares, with the proceeds going entirely to the selling stockholders. This development follows Alkami's strong financial performance, with a 25% increase in revenue for Q2 2024 and an adjusted EBITDA of $4.6 million. Analyst firms such as Craig-Hallum, Lake Street Capital Markets, Needham & Company, and Barclays (LON:BARC) have responded to this performance by raising their price targets for the company.
The secondary offering is managed by J.P. Morgan Securities LLC and is expected to close soon, pending market conditions and other factors. Alkami, however, is not financially involved in the transaction and will not receive any proceeds. The company has also expanded its credit facility and appointed Prerna Sachdeva as the new principal accounting officer, further strengthening its operational and financial standing. These are the recent developments surrounding Alkami Technology, Inc.
InvestingPro Insights
Amid the recent insider trading activity at Alkami Technology, Inc. (NASDAQ:ALKT), investors and market watchers may find additional context in the company's financial metrics and analysts' perspectives. According to InvestingPro data, Alkami's market capitalization stands at approximately $2.86 billion, reflecting the company's size and market value. Despite not being profitable over the last twelve months, Alkami has demonstrated significant revenue growth, with an increase of 26.69% over the same period. This growth trajectory is further underscored by the company's gross profit margin, which has reached a robust 56.94%.
InvestingPro Tips highlight that Alkami has been operating with a moderate level of debt and possesses liquid assets that exceed its short-term obligations, indicating a degree of financial stability. Additionally, three analysts have recently revised their earnings expectations upwards for the upcoming period, suggesting a positive outlook on Alkami's earnings potential. Furthermore, while Alkami does not currently pay a dividend, analysts predict the company will become profitable this year, which could be a pivotal point for its financial performance.
For investors seeking a deeper dive into Alkami's financials and strategic outlook, there are additional insights available on InvestingPro, including a total of 9 InvestingPro Tips that provide a comprehensive analysis of the company's financial health and market position.
Alkami's recent share price has been trading at 80.17% of its 52-week high, with a previous close at $29.64. This price point, alongside the insights from InvestingPro, may help investors gauge the company's current market sentiment and future potential. For those interested in exploring these metrics further, additional details can be found at https://www.investing.com/pro/ALKT.
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