Allot Ltd. (NASDAQ:ALLT – Get Free Report) SVP Boaz Grossman sold 6,000 shares of the company’s 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 completion of the sale, the senior vice president owned 186,000 shares in the company, valued at $1,385,700. This represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Allot Price Performance
ALLT opened at $7.48 on Monday. The firm has a market cap of $363.90 million, a P/E ratio of 34.00 and a beta of 1.48. The business’s fifty day simple moving average is $7.88 and its 200 day simple moving average is $7.73. Allot Ltd. has a 52 week low of $6.12 and a 52 week high of $11.92.
Allot (NASDAQ:ALLT – Get Free Report) 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. The firm had revenue of $27.74 million during the quarter, compared to the consensus estimate of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. As a group, equities analysts expect that Allot Ltd. will post 0.23 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised its holdings in shares of Allot by 24.4% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock worth $857,000 after purchasing an additional 19,013 shares during the period. Kanen Wealth Management LLC raised its holdings in Allot by 1.1% in the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after buying an additional 51,029 shares during the period. Lazard Asset Management LLC purchased a new position in Allot in the first quarter valued at approximately $1,208,000. Sei Investments Co. lifted its position in Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after buying an additional 461,175 shares in the last quarter. Finally, Silverberg Bernstein Capital Management LLC lifted its position in Allot by 5.7% during the first quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock valued at $1,165,000 after buying an additional 9,450 shares in the last quarter. Institutional investors and hedge funds own 51.50% of the company’s stock.
Wall Street Analyst Weigh In
Several equities analysts recently issued reports on ALLT shares. Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Northland Securities set a $17.00 target price on shares of Allot in a research note on Thursday, August 13th. Needham & Company LLC boosted their price target on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price objective on shares of Allot in a report on Wednesday, May 13th. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $13.38.
Read Our Latest Report on ALLT
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.
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