Insider Selling: Allot (NASDAQ:ALLT) SVP Sells $178,080.00 in Stock

Allot Ltd. (NASDAQ:ALLT) SVP Noam Lelah sold 21,000 shares of the firm’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.48, for a total value of $178,080.00. Following the completion of the transaction, the senior vice president owned 176,250 shares of the company’s stock, valued at $1,494,600. The trade was a 10.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Allot Stock Performance

Allot stock opened at $7.76 on Friday. Allot Ltd. has a 52 week low of $6.12 and a 52 week high of $11.92. The stock has a market capitalization of $377.52 million, a P/E ratio of 59.70 and a beta of 1.48. The stock has a 50-day simple moving average of $7.33 and a 200 day simple moving average of $8.53.

Allot (NASDAQ:ALLT) last posted its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%.The business had revenue of $26.43 million during the quarter. Research analysts forecast that Allot Ltd. will post 0.21 earnings per share for the current year.

Institutional Investors Weigh In On Allot

Hedge funds and other institutional investors have recently made changes to their positions in the business. Quarry LP acquired a new stake in shares of Allot in the third quarter valued at approximately $37,000. Kestra Advisory Services LLC acquired a new stake in shares of Allot in the fourth quarter valued at approximately $62,000. State of Wyoming acquired a new stake in shares of Allot in the fourth quarter valued at approximately $66,000. Wells Fargo & Company MN raised its position in shares of Allot by 200.0% in the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after buying an additional 6,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Allot in the third quarter valued at approximately $108,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALLT has been the subject of a number of research analyst reports. TD Cowen set a $11.00 price target on Allot in a report on Wednesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price target on shares of Allot in a 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. Finally, Needham & Company LLC lifted their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Allot has a consensus rating of “Moderate Buy” and a consensus target price 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.