Allot (NASDAQ:ALLT) SVP Sells $178,080.00 in Stock

Allot Ltd. (NASDAQ:ALLT) SVP Noam Lelah sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.48, for a total value of $178,080.00. Following the completion of the sale, the senior vice president directly owned 176,250 shares of the company’s stock, valued at $1,494,600. This represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Allot Trading Down 5.7%

Shares of ALLT traded down $0.49 during mid-day trading on Tuesday, hitting $8.12. The company’s stock had a trading volume of 675,459 shares, compared to its average volume of 495,260. The firm has a 50-day simple moving average of $7.25 and a 200 day simple moving average of $8.55. The firm has a market capitalization of $395.05 million, a P/E ratio of 64.57 and a beta of 1.48. 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 results 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 company had revenue of $26.43 million during the quarter. As a group, sell-side analysts predict that Allot Ltd. will post 0.21 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in ALLT. QVT Financial LP lifted its holdings in 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 buying an additional 556,730 shares during the period. Kanen Wealth Management LLC lifted its holdings in Allot by 1.1% in the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after buying an additional 51,029 shares during the period. Renaissance Technologies LLC lifted its holdings in Allot by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after buying an additional 106,740 shares during the period. Greenhaven Road Investment Management L.P. lifted its holdings in Allot by 12.8% in the fourth 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 buying an additional 97,348 shares during the period. Finally, Millennium Management LLC lifted its holdings in Allot by 239.4% in the third 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. Institutional investors own 51.50% of the company’s stock.

Analyst Ratings Changes

ALLT has been the subject of a number of analyst reports. TD Cowen set a $11.00 price target on Allot in a report on Wednesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price target on shares of Allot in a report on Wednesday, May 13th. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Needham & Company LLC boosted their price target on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.63.

About Allot

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.