Boaz Grossman Sells 5,000 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total value of $36,850.00. Following the transaction, the senior vice president owned 192,000 shares in the company, valued at $1,415,040. This trade represents a 2.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Allot Stock Performance

Allot stock traded up $0.17 during trading on Thursday, reaching $7.41. The company had a trading volume of 109,443 shares, compared to its average volume of 473,264. The firm has a market capitalization of $360.22 million, a PE ratio of 56.97 and a beta of 1.46. The firm’s 50-day simple moving average is $7.06 and its 200 day simple moving average is $8.62. Allot Ltd. has a 1-year low of $6.12 and a 1-year high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The business had revenue of $26.43 million for the quarter. Analysts anticipate that Allot Ltd. will post 0.2 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALLT shares. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. TD Cowen set a $11.00 target price on Allot in a research report on Wednesday, February 25th. Needham & Company LLC lifted their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price target on shares of Allot in a research report on Wednesday, May 13th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research note on Wednesday, January 21st. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. QVT Financial LP grew its holdings in shares of Allot by 12.4% in the fourth quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after purchasing an additional 556,730 shares during the period. Kanen Wealth Management LLC raised its stake in Allot by 1.1% during the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after purchasing an additional 51,029 shares during the period. Renaissance Technologies LLC boosted its holdings in Allot by 10.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after purchasing an additional 106,740 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its holdings in Allot by 12.8% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock valued at $8,424,000 after purchasing an additional 97,348 shares during the last quarter. Finally, Millennium Management LLC grew its stake in shares of Allot by 239.4% in the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after buying an additional 531,412 shares during the period. Hedge funds and other institutional investors own 51.50% of the company’s stock.

Allot Company Profile

Allot Ltd. is a provider of network intelligence and security solutions designed for service providers and enterprises worldwide. The company delivers software and cloud-based services that enable customers to gain real-time visibility into network traffic, enforce security policies and optimize bandwidth usage. Its platforms support a wide range of applications, from DDoS protection and threat prevention to subscriber experience management and network analytics.

Allot’s product portfolio includes managed solutions for mobile and fixed-line operators, as well as cloud-native services that can be deployed across private, public and hybrid environments.