Allot (NASDAQ:ALLT) SVP Sells $36,850.00 in Stock

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 5,000 shares of the stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total transaction of $36,850.00. Following the completion of the sale, the senior vice president owned 192,000 shares of the company’s stock, valued at approximately $1,415,040. This represents a 2.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Allot Price Performance

Shares of ALLT stock opened at $7.70 on Friday. The firm has a 50-day moving average of $7.09 and a 200-day moving average of $8.60. The company has a market cap of $374.57 million, a P/E ratio of 59.24 and a beta of 1.46. Allot Ltd. has a one year low of $6.12 and a one year high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. The company had revenue of $26.43 million during the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. As a group, research analysts expect that Allot Ltd. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALLT has been the subject of several research reports. Needham & Company LLC increased their price target on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price target on shares of Allot in a research report on Wednesday, May 13th. TD Cowen set a $11.00 price target on shares of Allot in a research report on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Five investment 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. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $13.63.

Hedge Funds Weigh In On Allot

Large investors have recently modified their holdings of the business. Raiffeisen Bank International AG purchased a new position in shares of Allot in the third quarter worth about $2,937,000. Greenhaven Road Investment Management L.P. increased 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 worth $8,037,000 after purchasing an additional 133,619 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in shares of Allot in the third quarter worth about $108,000. Riverwater Partners LLC purchased a new position in shares of Allot in the fourth quarter worth about $1,658,000. Finally, Advisory Alpha LLC purchased a new position in shares of Allot in the fourth quarter worth about $153,000. 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.