Key Points
- Allot CEO Eyal David Harari sold 29,111 shares at an average price of $7.64, receiving approximately $222,408. Following the sale, he retained 1,099,118 shares, a 2.58% reduction in his holdings.
- Allot shares opened at $7.55 and were down 3.5%, with the stock trading well below its 52-week high of $11.92. The company recently reported quarterly EPS of $0.06 on revenue of $26.43 million.
- The board authorized a $40 million share-repurchase plan covering up to 11.7% of outstanding shares. Analysts maintain a “Moderate Buy” consensus, with an average price target of $13.62, while institutional investors own 51.5% of the stock.
Allot Ltd. (NASDAQ:ALLT - Get Free Report) CEO Eyal David Harari sold 29,111 shares of Allot stock in a transaction on Thursday, August 6th. The stock was sold at an average price of $7.64, for a total value of $222,408.04. Following the transaction, the chief executive officer directly owned 1,099,118 shares of the company's stock, valued at $8,397,261.52. This trade represents a 2.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.
Allot Stock Down 3.5%
Allot stock opened at $7.55 on Tuesday. The firm has a market capitalization of $367.31 million, a PE ratio of 58.08 and a beta of 1.48. Allot Ltd. has a 52 week low of $6.12 and a 52 week high of $11.92. The firm's 50-day simple moving average is $7.84 and its 200 day simple moving average is $7.90.
Allot (NASDAQ:ALLT - Get Free Report) last posted its earnings results 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 net margin of 5.68% and a return on equity of 7.38%. On average, research analysts expect that Allot Ltd. will post 0.21 EPS for the current fiscal year.
Allot announced that its board has approved a stock repurchase plan on Tuesday, June 23rd that allows the company to repurchase $40.00 million in outstanding shares. This repurchase authorization allows the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its shares are undervalued.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on ALLT shares. Wall Street Zen upgraded Allot from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Needham & Company LLC increased their target price on Allot from $8.50 to $10.50 and gave the company a "buy" rating in a report on Wednesday, May 13th. Cantor Fitzgerald reissued an "overweight" rating and set a $15.00 price target on shares of Allot in a research report on Wednesday, May 13th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Allot in a report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Allot currently has an average rating of "Moderate Buy" and a consensus price target of $13.62.
Get Our Latest Research Report on Allot
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ALLT. JPMorgan Chase & Co. acquired a new stake in Allot during the second quarter worth about $2,225,000. Russell Investments Group Ltd. acquired a new position in shares of Allot in the 2nd quarter valued at about $350,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of Allot during the 2nd quarter worth about $156,000. Walleye Capital LLC purchased a new stake in shares of Allot during the 2nd quarter worth about $256,000. Finally, Marshall Wace LLP acquired a new stake in Allot during the 2nd quarter worth approximately $2,320,000. Institutional investors and hedge funds own 51.50% of the company's stock.
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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