Key Points
- Allot SVP Boaz Grossman sold 6,000 shares at an average price of $7.45, receiving $44,700. Following the transaction, he retained 186,000 shares, a 3.12% reduction in his position.
- Allot reported quarterly EPS of $0.09, exceeding the $0.06 consensus estimate, while revenue of $27.74 million slightly topped expectations.
- The company authorized a $40 million share buyback, covering up to 11.7% of outstanding shares. Analysts maintain a “Moderate Buy” consensus with an average price target of $13.38, versus the stock’s opening price of $7.55.
Allot Ltd. (NASDAQ:ALLT - Get Free Report) SVP Boaz Grossman sold 6,000 shares of the stock in a transaction dated Friday, August 21st. The stock was sold at an average price of $7.45, for a total transaction of $44,700.00. Following the sale, the senior vice president owned 186,000 shares in the company, valued at approximately $1,385,700. This trade represents a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Allot Stock Up 0.9%
Shares of ALLT stock opened at $7.55 on Tuesday. The business has a 50 day moving average of $7.89 and a two-hundred day moving average of $7.72. Allot Ltd. has a 52 week low of $6.12 and a 52 week high of $11.92. The company has a market cap of $367.31 million, a P/E ratio of 34.32 and a beta of 1.48.
Allot (NASDAQ:ALLT - Get Free Report) last posted its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 EPS for the quarter, beating the consensus estimate of $0.06 by $0.03. The company had revenue of $27.74 million during the quarter, compared to analyst estimates of $27.45 million. Allot had a return on equity of 9.64% and a net margin of 9.40%. Analysts expect that Allot Ltd. will post 0.23 EPS for the current fiscal year.
Allot declared that its board has initiated a share buyback plan on Tuesday, June 23rd that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the communications equipment provider to reacquire up to 11.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.
Analysts Set New Price Targets
Several research firms have recently commented on ALLT. 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. Needham & Company LLC boosted their target price on shares of Allot from $8.50 to $10.50 and gave the company 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 research report on Saturday, May 16th. Weiss Ratings restated a "sell (d+)" rating on shares of Allot in a research note on Friday, June 26th. Finally, Northland Securities set a $17.00 price target on Allot in a report on Thursday, August 13th. Four equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $13.38.
Read Our Latest Research Report on ALLT
Institutional Trading of Allot
A number of institutional investors have recently made changes to their positions in the stock. Quarry LP bought a new position in shares of Allot in the third quarter valued at approximately $37,000. Kestra Advisory Services LLC bought a new position in Allot during the 4th quarter valued at $62,000. State of Wyoming acquired a new position in shares of Allot during the 4th quarter valued at $66,000. Wells Fargo & Company MN raised its stake in shares of Allot by 200.0% in the 4th 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 in the last quarter. Finally, Invesco Ltd. bought a new stake in shares of Allot in the 4th quarter worth $112,000. 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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