Insider Selling: Allot (NASDAQ:ALLT) SVP Sells $44,700.00 in Stock

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 6,000 shares of the stock in a transaction on Friday, August 21st. The shares were sold at an average price of $7.45, for a total value of $44,700.00. Following the transaction, the senior vice president directly owned 186,000 shares of the company’s stock, valued at approximately $1,385,700. The trade was a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Allot Stock Performance

Shares of ALLT stock opened at $7.65 on Thursday. Allot Ltd. has a 1 year low of $6.12 and a 1 year high of $11.92. The business’s fifty day moving average is $7.91 and its 200-day moving average is $7.69. The stock has a market cap of $372.17 million, a PE ratio of 34.77 and a beta of 1.48.

Allot (NASDAQ:ALLT) last announced its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.06 by $0.03. Allot had a return on equity of 9.64% and a net margin of 9.40%.The business had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $27.45 million. Equities research analysts predict that Allot Ltd. will post 0.23 earnings per share for the current year.

Allot declared that its board has authorized 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 buy up to 11.7% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its stock is undervalued.

Institutional Trading of Allot

Several institutional investors have recently made changes to their positions in ALLT. Quarry LP purchased a new position in Allot during the third quarter valued at approximately $37,000. Kestra Advisory Services LLC acquired a new stake in shares of Allot during the 4th quarter valued at $62,000. State of Wyoming acquired a new stake in shares of Allot during the 4th quarter valued at $66,000. Wells Fargo & Company MN grew its holdings 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 valued at $88,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Allot during the 4th quarter valued at $112,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently weighed in on ALLT shares. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 target price on shares of Allot in a report on Wednesday, May 13th. Needham & Company LLC increased their price objective on Allot from $8.50 to $10.50 and gave the company 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. Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Finally, Northland Securities set a $17.00 price objective on Allot in a report on Thursday, August 13th. Four 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 stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.38.

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.