Amcor stock falls after Raymond James reiterates Market Perform rating
Alex Shootman, the Chief Executive Officer of Alkami Technology , Inc. (NASDAQ:ALKT), has recently sold a significant portion of his holdings in the company. According to a recent SEC filing, Shootman sold 35,408 shares of common stock on March 10, 2025, at an average price of $24.28 per share. This transaction resulted in a total sale value of approximately $859,706. The sale comes as Alkami, currently valued at $2.4 billion, has seen its stock decline nearly 18% in the past week and is trading near its 52-week low of $22.65.
The sale was conducted to cover tax withholding obligations associated with the vesting and settlement of restricted stock units (RSUs) and was executed as a "sell to cover" transaction. This means it was not a discretionary sale by Shootman. Following this transaction, Shootman retains direct ownership of 1,031,485 shares of Alkami Technology. According to InvestingPro data, while the company operates with moderate debt levels and maintains strong liquidity with a current ratio of 3.98, it faces near-term challenges with analysts recently revising earnings expectations downward. For deeper insights into Alkami’s financial health and growth prospects, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Alkami Technology Inc. reported its fourth-quarter 2024 earnings, revealing a significant miss on earnings per share (EPS) expectations, with an EPS of -0.08 against the forecasted 0.08. Despite this, the company saw a 26% year-over-year increase in revenue, totaling $89.66 million, and an adjusted EBITDA of $26.9 million, a notable improvement from the previous year’s loss. Alkami also announced a $300 million private offering of convertible senior notes due in 2030, aimed at institutional buyers, with proceeds earmarked for the acquisition of MANTL, a provider of omnichannel account opening solutions. The acquisition is expected to complement Alkami’s product offerings and enhance its ability to secure new banking clients. KeyBanc Capital Markets recently revised Alkami’s stock price target to $45 from $50, maintaining an Overweight rating, following the company’s revenue report and acquisition plans. The fiscal year 2025 guidance for Alkami’s revenue was slightly below analyst expectations, though adjusted EBITDA margins aligned more closely. The Mantle acquisition is projected to lead to revenue synergies, with expectations of being accretive to adjusted EBITDA by 2026. These developments reflect Alkami’s strategic efforts to expand its market presence and product capabilities.
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