Alkami Technology, Inc. (NASDAQ:ALKT) has reported that its Chief Strategy & Product Officer, Stephen Bohanon, sold shares of the company's stock in a series of transactions on March 18 and 19, 2024. The total proceeds from the sales amounted to over $787,000, as disclosed in a recent filing with the Securities and Exchange Commission.
The transactions were executed 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 occurred at varying prices, with a range between $23.0199 and $23.5684 per share. Specifically, on March 18, Bohanon sold 19,052 shares at a weighted average price of $23.0229 and another 10,000 shares at a weighted average price of $23.0199. The following day, he sold an additional 5,023 shares at a weighted average price of $23.5684.
Following these transactions, Stephen Bohanon still holds a significant number of shares in Alkami Technology. The filing included a footnote indicating that, in addition to the direct holdings, Bohanon has indirect ownership through trusts, with 339,116 shares held by Botech Trust, where he serves as trustee, and another 339,116 shares held by KBCouture Trust, with his spouse as trustee.
Investors and stakeholders often keep a close eye on insider sales as they can provide insights into executives' perspectives on the company's current valuation and future prospects. However, it is also not uncommon for executives to sell shares for personal financial management reasons, unrelated to their outlook on the company's performance.
Alkami Technology, headquartered in Plano, Texas, specializes in providing cloud-based digital banking solutions and services. The company's stock performance and insider transactions are closely monitored by investors seeking to understand market trends and company health.
InvestingPro Insights
As Alkami Technology, Inc. (NASDAQ:ALKT) navigates the market, recent activity from executives and the company's financial metrics are key points of interest for investors. According to real-time data from InvestingPro, Alkami's market capitalization stands at a robust $2.33 billion, with a significant revenue growth of 29.65% over the last twelve months as of Q4 2023. This indicates a strong upward trend in the company's earning potential, which is further substantiated by a quarterly revenue growth of 28.5% for Q1 2023.
While the company operates with a moderate level of debt, as one of the InvestingPro Tips suggests, its liquid assets exceed short-term obligations, providing a cushion for operational flexibility. This financial stability is accompanied by a high return over the last year, with a price total return of 100.93%, showcasing the company's strong performance in the market.
Despite the lack of profitability over the last twelve months, analysts have revised their earnings upwards for the upcoming period, suggesting optimism about Alkami's future earnings. This is further supported by the prediction that the company will be profitable this year, an important consideration for investors looking at long-term growth.
For those interested in gaining deeper insights and more InvestingPro Tips, including the company's trading multiples and analyst targets, visit InvestingPro's dedicated page for Alkami Technology at https://www.investing.com/pro/ALKT. Additionally, use coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and explore the 10 additional tips listed to help inform your investment decisions.
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