Stephen Bohanon, Chief Strategy and Product Officer at Alkami Technology, Inc. (NASDAQ:ALKT), recently reported the sale of 15,491 shares of the company's common stock. The shares were sold at an average price of $38.37 each, amounting to a total transaction value of $594,389. This transaction, dated December 3, 2024, was conducted to cover tax withholding obligations related to the vesting and settlement of restricted stock units (RSUs) and was not a discretionary sale by Bohanon. The sale comes as ALKT shares have surged 65% over the past year, trading near their 52-week high of $42.29. InvestingPro analysis indicates the stock is trading above its Fair Value, with 11 more exclusive insights available to subscribers.
Following this sale, Bohanon holds 358,204 shares directly. Additionally, he maintains indirect ownership of 678,232 shares, which includes holdings in trusts for which he and his spouse serve as trustees. With a market capitalization of $3.99 billion, ALKT maintains strong financial health with a current ratio of 3.52 and minimal debt-to-equity of 0.06. Discover comprehensive insider trading patterns and detailed financial analysis in the InvestingPro Research Report, part of our coverage of 1,400+ US stocks.
In other recent news, Alkami Technology, Inc. announced a secondary offering of 7.5 million shares of common stock, with the proceeds going entirely to the selling stockholders. In financial highlights, the company reported a notable 27% increase in Q3 revenue to $85.9 million and an adjusted EBITDA of $8.3 million, exceeding expectations. KeyBanc Capital Markets responded to these developments by raising its price target for Alkami Technology to $45 and maintaining an Overweight rating.
Additionally, Alkami secured nine new digital banking wins and 14 renewals, indicating a strong demand for its services. The company's implementation backlog now includes 36 clients, accounting for 1.3 million users. For Q4 2024, Alkami forecasts a revenue between $89 million and $90 million, with full-year guidance of $333.2 million to $334.2 million.
Despite a favorable environment for mergers and acquisitions, Alkami has not made any recent acquisitions. However, the company's data technology is increasingly seen as a market differentiator, with over 70% of new client wins in 2024 incorporating data and marketing products. These are some of the recent developments surrounding Alkami Technology.
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