Key Points
- Allot SVP Noam Lelah sold 21,000 shares on June 1 at an average price of $8.48, for total proceeds of $178,080. After the sale, he still held 176,250 shares, reducing his stake by 10.65%.
- ALLT shares were down 5.0% and opened at $8.18, with the stock trading below its 200-day moving average of $8.55 but above its 50-day average of $7.25.
- Analyst sentiment remains moderately bullish, with five Buy ratings, one Hold, and one Sell. The consensus price target is $13.63, above the current share price.
Allot Ltd. (NASDAQ:ALLT - Get Free Report) SVP Noam Lelah sold 21,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.48, for a total transaction 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. This represents a 10.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Allot Stock Down 5.0%
Shares of ALLT opened at $8.18 on Wednesday. The firm has a 50-day moving average price of $7.25 and a 200 day moving average price of $8.55. The firm has a market capitalization of $397.96 million, a PE ratio of 62.93 and a beta of 1.48. 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 Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. The firm had revenue of $26.43 million during the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. On average, equities analysts expect that Allot Ltd. will post 0.21 EPS for the current year.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on ALLT shares. TD Cowen set a $11.00 price objective on shares of Allot in a research report on Wednesday, February 25th. Wall Street Zen upgraded shares of Allot from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Needham & Company LLC raised their target price on shares of Allot from $8.50 to $10.50 and gave the stock a "buy" rating in a report on Wednesday, May 13th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $15.00 target price on shares of Allot in a report on Wednesday, May 13th. Five analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.63.
Read Our Latest Stock Analysis on ALLT
Institutional Trading of Allot
Hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new stake in shares of Allot in the third quarter worth approximately $37,000. Kestra Advisory Services LLC bought a new position in Allot during the fourth quarter valued at approximately $62,000. State of Wyoming bought a new position in Allot during the fourth quarter valued at approximately $66,000. Wells Fargo & Company MN raised its position in Allot by 200.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider's stock valued at $88,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new position in Allot during the third quarter valued at approximately $108,000. 51.50% of the stock is owned by hedge funds and other institutional investors.
Allot Company Profile
(
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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