Mark Shteiman Sells 5,000 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 5,000 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $7.39, for a total transaction of $36,950.00. Following the completion of the sale, the insider directly owned 220,000 shares of the company’s stock, valued at $1,625,800. This represents a 2.22% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link.

Mark Shteiman also recently made the following trade(s):

• On Friday, May 22nd, Mark Shteiman sold 6,000 shares of Allot stock. The shares were sold at an average price of $7.58, for a total transaction of $45,480.00.
• On Tuesday, May 19th, Mark Shteiman sold 5,000 shares of Allot stock. The shares were sold at an average price of $7.32, for a total transaction of $36,600.00.
• On Monday, May 18th, Mark Shteiman sold 3,000 shares of Allot stock. The shares were sold at an average price of $7.13, for a total transaction of $21,390.00.

Allot Trading Up 0.3%

Shares of ALLT opened at $7.71 on Thursday. Allot Ltd. has a 12-month low of $6.12 and a 12-month high of $11.92. The firm has a 50-day moving average price of $7.16 and a 200 day moving average price of $8.57. The firm has a market capitalization of $375.09 million, a P/E ratio of 59.31 and a beta of 1.46.

Allot (NASDAQ:ALLT) last announced 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 firm had revenue of $26.43 million during the quarter. Equities research analysts predict that Allot Ltd. will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Raiffeisen Bank International AG purchased a new position in shares of Allot in the third quarter valued at approximately $2,937,000. Greenhaven Road Investment Management L.P. boosted its stake in shares of Allot by 21.3% in the third quarter. Greenhaven Road Investment Management L.P. now owns 759,643 shares of the communications equipment provider’s stock valued at $8,037,000 after purchasing an additional 133,619 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of Allot in the third quarter valued at approximately $108,000. Advisory Alpha LLC purchased a new position in shares of Allot in the fourth quarter valued at approximately $153,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in shares of Allot in the fourth quarter valued at approximately $226,000. Hedge funds and other institutional investors own 51.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on ALLT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Needham & Company LLC increased their target price on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, TD Cowen set a $11.00 target price on shares of Allot in a research note on Wednesday, February 25th. Five analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target 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.