Riverwater Partners LLC acquired a new position in Allot Ltd. (NASDAQ:ALLT – Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 168,689 shares of the communications equipment provider’s stock, valued at approximately $1,658,000.
A number of other institutional investors have also made changes to their positions in ALLT. Quarry LP bought a new position in shares of Allot in the third quarter worth about $37,000. State of Wyoming bought a new position in shares of Allot in the fourth quarter worth about $66,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of Allot in the fourth quarter worth about $148,000. Advisory Alpha LLC bought a new position in shares of Allot in the fourth quarter worth about $153,000. Finally, Arrowstreet Capital Limited Partnership bought a new position in shares of Allot in the second quarter worth about $156,000. 51.50% of the stock is currently owned by institutional investors.
Allot Stock Up 2.1%
Shares of ALLT opened at $7.21 on Friday. Allot Ltd. has a 12-month low of $6.12 and a 12-month high of $11.92. The firm has a market capitalization of $350.77 million, a price-to-earnings ratio of 55.47 and a beta of 1.48. The stock’s 50-day moving average price is $7.41 and its 200 day moving average price is $8.48.
Analyst Ratings Changes
A number of equities analysts have recently commented on ALLT shares. TD Cowen set a $11.00 price objective on Allot in a research note on Wednesday, February 25th. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 price objective on shares of Allot in a research note on Wednesday, May 13th. Finally, Needham & Company LLC lifted their price objective on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.63.
Check Out Our Latest Report on Allot
Insider Activity at Allot
In related news, insider Mark Shteiman sold 6,000 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $7.58, for a total transaction of $45,480.00. Following the transaction, the insider directly owned 214,000 shares in the company, valued at $1,622,120. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Noam Lelah sold 21,000 shares of the business’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 transaction, the senior vice president owned 176,250 shares in the company, valued at $1,494,600. This represents a 10.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 45,556 shares of company stock worth $359,464 over the last three months. Company insiders own 3.40% 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.
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