Allot (NASDAQ:ALLT) SVP Sells $31,200.00 in Stock

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 4,000 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $7.80, for a total value of $31,200.00. Following the completion of the sale, the senior vice president owned 182,000 shares of the company’s stock, valued at $1,419,600. The trade was a 2.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.

Boaz Grossman also recently made the following trade(s):

• On Friday, August 21st, Boaz Grossman sold 6,000 shares of Allot stock. The shares were sold at an average price of $7.45, for a total value of $44,700.00.

Allot Stock Performance

Shares of Allot stock opened at $7.46 on Thursday. Allot Ltd. has a 52-week low of $6.12 and a 52-week high of $11.92. The stock has a market capitalization of $362.93 million, a price-to-earnings ratio of 33.91 and a beta of 1.50. The company’s 50 day moving average price is $7.96 and its 200-day moving average price is $7.61.

Allot (NASDAQ:ALLT) last issued its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.06 by $0.03. The company had revenue of $27.74 million for the quarter, compared to the consensus estimate of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. As a group, equities research analysts forecast that Allot Ltd. will post 0.23 earnings per share for the current fiscal year.

Allot declared that its board has initiated a share repurchase plan 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 plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th. Northland Securities set a $17.00 price objective on Allot in a report on Thursday, August 13th. Needham & Company LLC lifted their price objective on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research 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, Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price objective on shares of Allot in a research report on Wednesday, May 13th. Four equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Allot has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. JPMorgan Chase & Co. bought a new position in shares of Allot in the 2nd quarter worth approximately $2,225,000. Russell Investments Group Ltd. bought a new stake in shares of Allot during the second quarter valued at approximately $350,000. Arrowstreet Capital Limited Partnership bought a new stake in shares of Allot during the second quarter valued at approximately $156,000. Walleye Capital LLC purchased a new stake in Allot in the second quarter worth $256,000. Finally, Marshall Wace LLP purchased a new stake in Allot in the second quarter worth $2,320,000. 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.