The sale was conducted under a Rule 10b5-1 trading plan, which Hill adopted on March 11, 2024. This plan allows insiders of publicly traded corporations to set up a predetermined schedule for selling stocks, helping to avoid potential accusations of insider trading.In addition to the sale, Hill also exercised stock options to acquire 100,000 shares at a price of $2.34 per share, which were part of a fully vested and exercisable option. Following these transactions, Hill now holds 353,841 shares of Alkami Technology directly.These transactions provide insight into the financial activities of Alkami Technology's executive team and may be of interest to investors monitoring insider trading activities within the company. For deeper insights into ALKT's valuation metrics and growth prospects, including analyst targets ranging from $39 to $54, investors can access the comprehensive Pro Research Report available on InvestingPro. For deeper insights into ALKT's valuation metrics and growth prospects, including analyst targets ranging from $39 to $54, investors can access the comprehensive Pro Research Report available on InvestingPro.
The sale was conducted under a Rule 10b5-1 trading plan, which Hill adopted on March 11, 2024. This plan allows insiders of publicly traded corporations to set up a predetermined schedule for selling stocks, helping to avoid potential accusations of insider trading.
In addition to the sale, Hill also exercised stock options to acquire 100,000 shares at a price of $2.34 per share, which were part of a fully vested and exercisable option. Following these transactions, Hill now holds 353,841 shares of Alkami Technology directly.
These transactions provide insight into the financial activities of Alkami Technology's executive team and may be of interest to investors monitoring insider trading activities within the company.
In other recent news, Alkami Technology, Inc. initiated a secondary offering of 7.5 million shares of common stock, with proceeds going entirely to the selling stockholders. The underwriter, J.P. Morgan Securities LLC, has been granted a 30-day option to buy up to an additional 1,125,000 shares. In the financial realm, Alkami reported a significant 27% increase in Q3 revenue to $85.9 million, with an adjusted EBITDA of $8.3 million. The company's annual recurring revenue (ARR) grew by 24% to $342 million. These strong results led KeyBanc Capital Markets to raise its price target for Alkami to $45, maintaining an Overweight rating. Alkami also reported nine new digital banking wins and 14 renewals, indicating robust 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. Despite a favorable environment for mergers and acquisitions, Alkami has not made any recent acquisitions.
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