Allot (NASDAQ:ALLT) SVP Boaz Grossman Sells 6,000 Shares of Stock

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 6,000 shares of the business’s stock in a transaction that occurred on Friday, August 21st. The stock was sold at an average price of $7.45, for a total value of $44,700.00. Following the transaction, the senior vice president directly owned 186,000 shares in the company, valued at $1,385,700. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Allot Stock Up 0.9%

Shares of NASDAQ:ALLT opened at $7.55 on Tuesday. Allot Ltd. has a 52-week low of $6.12 and a 52-week high of $11.92. The company has a 50 day moving average of $7.89 and a two-hundred day moving average of $7.72. The company has a market capitalization of $367.31 million, a price-to-earnings ratio of 34.32 and a beta of 1.48.

Allot (NASDAQ:ALLT) last posted its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $27.74 million for the quarter, compared to analysts’ expectations of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. On average, equities analysts anticipate that Allot Ltd. will post 0.23 earnings per share for the current year.

Allot declared that its Board of Directors has approved a share repurchase program on Tuesday, June 23rd that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to buy up to 11.7% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of ALLT. QVT Financial LP grew its position in shares of Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock worth $49,765,000 after acquiring an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC lifted 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 last quarter. Renaissance Technologies LLC lifted its stake in Allot by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock worth $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 fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after purchasing an additional 97,348 shares during the period. Finally, Millennium Management LLC boosted 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 worth $7,971,000 after purchasing an additional 531,412 shares during the period. Institutional investors own 51.50% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ALLT shares. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Needham & Company LLC raised their price objective on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Northland Securities set a $17.00 target price on Allot in a research report on Thursday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.38.

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.