Allot (NASDAQ:ALLT) SVP Boaz Grossman Sells 5,000 Shares

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total transaction of $36,850.00. Following the transaction, the senior vice president owned 192,000 shares in the company, valued at approximately $1,415,040. This represents a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

Allot Stock Up 2.3%

Shares of NASDAQ ALLT traded up $0.17 during mid-day trading on Thursday, reaching $7.41. 109,443 shares of the company were exchanged, compared to its average volume of 473,264. Allot Ltd. has a 1 year low of $6.12 and a 1 year high of $11.92. The stock has a market cap of $360.22 million, a price-to-earnings ratio of 56.97 and a beta of 1.46. The firm has a 50-day moving average of $7.06 and a 200 day moving average of $8.62.

Allot (NASDAQ:ALLT) last announced its earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. The firm had revenue of $26.43 million for the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%. On average, equities analysts forecast that Allot Ltd. will post 0.2 earnings per share for the current year.

Institutional Trading of Allot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP purchased a new stake in shares of Allot during the 3rd quarter worth about $37,000. Kestra Advisory Services LLC acquired a new position in Allot in the 4th quarter worth about $62,000. State of Wyoming acquired a new position in Allot in the 4th quarter worth about $66,000. Wells Fargo & Company MN boosted its position in Allot by 200.0% during the fourth 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 in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Allot during the third quarter worth approximately $108,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALLT shares. Weiss Ratings reissued a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Needham & Company LLC raised their target price on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 price target on shares of Allot in a report on Wednesday, May 13th. TD Cowen set a $11.00 price target on Allot in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Allot presently 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.