Gili Groner Sells 26,666 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) insider Gili Groner sold 26,666 shares of the firm’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $7.86, for a total value of $209,594.76. Following the sale, the insider owned 59,467 shares of the company’s stock, valued at $467,410.62. This represents a 30.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allot Stock Performance

Shares of NASDAQ ALLT opened at $7.87 on Wednesday. Allot Ltd. has a 1 year low of $6.12 and a 1 year high of $11.92. The stock’s 50-day simple moving average is $7.86 and its 200-day simple moving average is $7.78. The firm has a market cap of $382.88 million, a price-to-earnings ratio of 35.77 and a beta of 1.48.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Wednesday, August 12th. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Allot had a return on equity of 9.64% and a net margin of 9.40%.The firm had revenue of $27.74 million during the quarter, compared to the consensus estimate of $27.45 million. As a group, research analysts predict that Allot Ltd. will post 0.24 EPS for the current year.

Allot declared that its board has approved a stock buyback plan on Tuesday, June 23rd that allows the company to buyback $40.00 million in shares. This buyback authorization allows the communications equipment provider to repurchase up to 11.7% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Allot

A number of large investors have recently modified their holdings of ALLT. Hennion & Walsh Asset Management Inc. lifted its position in Allot by 24.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock valued at $857,000 after purchasing an additional 19,013 shares during the last quarter. Kanen Wealth Management LLC raised its holdings in shares of 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 valued at $30,994,000 after buying an additional 51,029 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of Allot during the first quarter worth approximately $1,208,000. Sei Investments Co. grew its holdings in Allot by 744.0% in the 1st quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after buying an additional 461,175 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC grew its holdings in Allot by 5.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock worth $1,165,000 after buying an additional 9,450 shares in the last quarter. Institutional investors and hedge funds own 51.50% of the company’s stock.

Wall Street Analyst Weigh In

ALLT has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. 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 issued a $15.00 price target on shares of Allot in a report on Wednesday, May 13th. Finally, Needham & Company LLC upped their price target on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Five 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus 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.