In a recent filing with the Securities and Exchange Commission, W. Bryan Hill, the Chief Financial Officer of Alkami Technology, Inc. (NASDAQ:ALKT), a $3.5 billion market cap company showing strong revenue growth of 27% year-over-year, disclosed a significant sale of company stock. On January 13, Hill sold 100,000 shares of common stock at a weighted average price of $33.43 per share, generating a total of approximately $3.34 million. These transactions were executed under a pre-arranged Rule 10b5-1 trading plan. According to InvestingPro data, while the company is not currently profitable, analysts expect positive earnings this fiscal 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 these transactions, Hill now directly owns 353,841 shares of Alkami Technology.
The sale was part of a structured trading plan, which allows insiders to set up a predetermined schedule for selling stocks to avoid potential conflicts of interest. The weighted average sale price ranged from $33.06 to $33.86 per share.
In other recent news, Alkami Technology, Inc. has launched a secondary offering of 7.5 million shares, with proceeds going entirely to the selling stockholders. This move is supported by an effective shelf registration statement filed with the Securities and Exchange Commission. In parallel, Alkami has reported a strong Q3 performance, with a significant 27% increase in revenue to $85.9 million and an adjusted EBITDA of $8.3 million. KeyBanc Capital Markets, in response to these developments, has raised its price target for Alkami to $45, maintaining an Overweight rating. Furthermore, Alkami has secured nine new digital banking wins and 14 renewals, indicating a 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. Lastly, despite a favorable environment for mergers and acquisitions, Alkami has not made any recent acquisitions.
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