Allot (NASDAQ:ALLT) SVP Boaz Grossman Sells 4,000 Shares

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 4,000 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $7.80, for a total transaction of $31,200.00. Following the sale, the senior vice president directly owned 182,000 shares of the company’s stock, valued at approximately $1,419,600. The trade was a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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 Down 0.3%

ALLT stock traded down $0.02 during mid-day trading on Monday, reaching $7.77. 70,266 shares of the company traded hands, compared to its average volume of 418,962. The firm’s 50 day moving average price is $7.94 and its 200 day moving average price is $7.66. The stock has a market cap of $378.01 million, a price-to-earnings ratio of 35.32 and a beta of 1.48. Allot Ltd. has a fifty-two week low of $6.12 and a fifty-two week high of $11.92.

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

Allot announced that its board has approved a share repurchase plan on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in shares. This repurchase authorization authorizes the communications equipment provider to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have recently issued reports on ALLT. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Needham & Company LLC increased their price objective on shares of 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 shares of Allot in a research report on Thursday, August 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th. Four 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 company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.38.

Hedge Funds Weigh In On Allot

Several institutional investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in Allot during the third quarter worth about $37,000. Kestra Advisory Services LLC bought a new position in shares of Allot during the 4th quarter valued at approximately $62,000. State of Wyoming purchased a new stake in shares of Allot during the 4th quarter worth approximately $66,000. Wells Fargo & Company MN increased its stake in shares of Allot by 200.0% during the 4th quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 6,000 shares during the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Allot in the 4th quarter worth approximately $112,000. Institutional investors own 51.50% of the company’s stock.

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.