QVT Financial LP increased its holdings in Allot Ltd. (NASDAQ:ALLT – Free Report) by 12.4% in the 4th quarter, HoldingsChannel reports. The fund owned 5,062,523 shares of the communications equipment provider’s stock after purchasing an additional 556,730 shares during the quarter. Allot makes up approximately 4.3% of QVT Financial LP’s holdings, making the stock its 2nd biggest holding. QVT Financial LP owned 0.10% of Allot worth $49,765,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Quarry LP purchased a new position in Allot in the third quarter worth approximately $37,000. Kestra Advisory Services LLC purchased a new position in Allot in the fourth quarter worth approximately $62,000. State of Wyoming purchased a new position in shares of Allot during the fourth quarter worth $66,000. Wells Fargo & Company MN boosted its position in shares of 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 buying an additional 6,000 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new position in shares of Allot during the fourth quarter worth $148,000. 51.50% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several research analysts have recently commented on the company. Needham & Company LLC raised their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. TD Cowen set a $11.00 price target on Allot in a research report on Wednesday, February 25th. 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. Finally, Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Five equities 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. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.63.
Allot Price Performance
ALLT opened at $7.37 on Monday. Allot Ltd. has a 52 week low of $6.12 and a 52 week high of $11.92. The business has a fifty day simple moving average of $7.42 and a 200-day simple moving average of $8.46. The firm has a market cap of $358.55 million, a P/E ratio of 56.70 and a beta of 1.48.
Allot (NASDAQ:ALLT – Get Free Report) last released 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. Sell-side analysts expect that Allot Ltd. will post 0.21 earnings per share for the current year.
Insider Activity
In other news, SVP Noam Lelah sold 21,000 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $8.48, for a total value of $178,080.00. Following the sale, the senior vice president directly owned 176,250 shares in the company, valued at approximately $1,494,600. This trade represents a 10.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark Shteiman sold 6,000 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $7.58, for a total value of $45,480.00. Following the completion of the sale, the insider owned 214,000 shares in the company, valued at approximately $1,622,120. The trade was a 2.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 45,556 shares of company stock worth $359,464. Corporate 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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