In a recent filing with the Securities and Exchange Commission, W. Bryan Hill, Chief Financial Officer of Alkami Technology, Inc. (NASDAQ:ALKT), a $3.5 billion capital market company showing strong revenue growth of 27% year over year. , disclosed a significant sale of the company’s stock. On January 13, Hill sold 100,000 shares of common stock at an estimated net price of $33.43 per share, netting approximately $3.34 million. These transactions were conducted under the pre-arranged trading system of Rule 10b5-1. According to InvestingPro data, although the company is not profitable at the moment, analysts expect good profits this financial year.
In addition to the sale, Hill also exercised stock options to acquire 100,000 shares at a price of $2.34 per share. Following this transaction, Hill now directly owns 353,841 shares of Alkami Technology.
The sale was part of a structured trading system, which allows insiders to set a predetermined schedule for selling shares to avoid potential conflicts of interest. The average price range is from $33.06 to $33.86 per share.
In other recent news, Alkami Technology, Inc. launched a secondary offering of 7.5 million shares, with the proceeds going to the selling shareholders. This move is supported by an effective shelf registration statement filed with the Securities and Exchange Commission. Correspondingly, Alkami reported strong Q3 performance, with a significant 27% increase in revenue to $85.9 million and adjusted EBITDA of $8.3 million. KeyBanc Capital Markets, in response to these developments, raised its price target on Alkami to $45, maintaining an overweight rating. In addition, Alkami received nine wins for digital banking and 14 renewals, which shows the strong demand for its services. Looking ahead, the company forecasts Q4 2024 revenue between $89 million and $90 million, with full-year guidance of $333.2 million to $334.2 million. Finally, despite a favorable environment for mergers and acquisitions, Alkami has yet to acquire anything recent.
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