Douglas Linebarger, chief legal officer at Alkami Technology, sells $2m in stock

Douglas Linebarger, the Chief Legal Officer of Alkami Technology, Inc. (NASDAQ:ALKT), recently sold 50,000 shares of the company's common stock. The shares were sold at an average weighted price of approximately $40.05, with the transaction amounting to a total of $2,002,434. The sale comes as ALKT trades near its 52-week high of $42.29, having delivered impressive returns of over 70% in the past year. According to InvestingPro analysis, the company's current market capitalization stands at approximately $4 billion. Following this sale, Linebarger retains ownership of 191,668 shares in the company. The sale was executed on December 12, 2024, and reported in a filing with the Securities and Exchange Commission. The company maintains a strong liquidity position with a current ratio of 3.52, though InvestingPro analysis suggests the stock may be slightly overvalued at current levels. For deeper insights into insider trading patterns and comprehensive financial analysis, investors can access the detailed Pro Research Report available on InvestingPro.

In other recent news, Alkami Technology initiated a secondary offering of 7.5 million shares, with the potential for an additional 1,125,000 shares. The proceeds will benefit the selling stockholders, including General Atlantic, S3 Ventures, George B. Kaiser, and Brian R. Smith, with no revenue going to Alkami. J.P. Morgan Securities LLC is managing the offering.

In financial news, Alkami Technology reported a 27% increase in Q3 revenue to $85.9 million and an adjusted EBITDA of $8.3 million. The company's annual recurring revenue (ARR) grew by 24% to $342 million. It also secured nine new digital banking clients and 14 renewals, indicating strong demand for its services.

KeyBanc Capital Markets responded to these developments by raising its price target for Alkami Technology to $45, maintaining an Overweight rating. The company anticipates 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. However, over 70% of new client wins in 2024 incorporated Alkami's data and marketing products.

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