Key Points
- Insider selling: Allot insider Mark Shteiman sold 3,000 shares on May 18 at an average price of $7.13, totaling $21,390. After the sale, he still held 230,000 shares.
- Stock moved higher: ALLT shares were up 4.2% and opened at $7.48, trading near their 50-day moving average but below the 200-day average.
- Analyst sentiment is mixed but mostly positive: Recent ratings include upgrades and reaffirmed buy/overweight calls, with a consensus rating of Moderate Buy and an average price target of $13.63.
Allot Ltd. (NASDAQ:ALLT - Get Free Report) insider Mark Shteiman sold 3,000 shares of Allot stock in a transaction on Monday, May 18th. The stock was sold at an average price of $7.13, for a total transaction of $21,390.00. Following the transaction, the insider directly owned 230,000 shares of the company's stock, valued at $1,639,900. This represents a 1.29% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Allot Trading Up 4.2%
Shares of ALLT opened at $7.48 on Wednesday. The firm's fifty day simple moving average is $7.05 and its two-hundred day simple moving average is $8.64. Allot Ltd. has a 12 month low of $6.12 and a 12 month high of $11.92. The stock has a market capitalization of $363.90 million, a P/E ratio of 57.54 and a beta of 1.46.
Allot (NASDAQ:ALLT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. The firm had revenue of $26.43 million during the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%. As a group, research analysts predict that Allot Ltd. will post 0.2 EPS for the current fiscal year.
Analyst Ratings Changes
ALLT has been the topic of several recent analyst reports. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 price target on shares of Allot in a research note on Wednesday, May 13th. TD Cowen set a $11.00 target price on shares of Allot in a research report on Wednesday, February 25th. Needham & Company LLC increased their target price on shares of Allot from $8.50 to $10.50 and gave the stock a "buy" rating in a research note on Wednesday, May 13th. Wall Street Zen upgraded shares of Allot from a "hold" rating to a "buy" rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Allot in a research note on Wednesday, January 21st. Five analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $13.63.
Check Out Our Latest Stock Report on ALLT
Hedge Funds Weigh In On Allot
A number of institutional investors have recently modified their holdings of ALLT. QVT Financial LP lifted its holdings in shares of Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider's stock worth $49,765,000 after purchasing an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC increased its stake in Allot by 1.1% during the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider's stock valued at $30,994,000 after purchasing an additional 51,029 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Allot by 10.5% during the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider's stock worth $11,009,000 after buying an additional 106,740 shares during the last quarter. Greenhaven Road Investment Management L.P. lifted its stake in shares of Allot by 12.8% in the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider's stock valued at $8,424,000 after buying an additional 97,348 shares in the last quarter. Finally, Millennium Management LLC lifted its stake in shares of Allot by 239.4% in the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider's stock valued at $7,971,000 after buying an additional 531,412 shares in the last quarter. 51.50% of the stock is owned by institutional investors and hedge funds.
About Allot
(
Get Free Report)
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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