Key Points
- Allot SVP Boaz Grossman sold 4,000 shares at an average price of $7.80, generating $31,200 and reducing his direct ownership by 2.15% to 182,000 shares. He also sold 6,000 shares the prior week.
- Allot reported quarterly EPS of $0.09, beating the $0.06 consensus estimate, while revenue of $27.74 million slightly exceeded expectations. The company also authorized a $40 million share buyback, covering up to 11.7% of outstanding shares.
- Shares opened at $7.72, with analysts maintaining a “Moderate Buy” consensus and an average price target of $13.38. Institutional investors own 51.5% of the company, with several funds recently increasing their positions.
Allot Ltd. (NASDAQ:ALLT - Get Free Report) SVP Boaz Grossman sold 4,000 shares of Allot stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $7.80, for a total value of $31,200.00. Following the completion of the transaction, the senior vice president directly owned 182,000 shares of the company's stock, valued at approximately $1,419,600. This represents a 2.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Boaz Grossman also recently made the following trade(s):
- On Friday, August 21st, Boaz Grossman sold 6,000 shares of Allot stock. The stock was sold at an average price of $7.45, for a total transaction of $44,700.00.
Allot Stock Performance
Shares of ALLT opened at $7.72 on Tuesday. The stock has a market capitalization of $375.58 million, a PE ratio of 35.09 and a beta of 1.48. Allot Ltd. has a 1 year low of $6.12 and a 1 year high of $11.92. The company's 50-day simple moving average is $7.95 and its 200-day simple moving average is $7.64.
Allot (NASDAQ:ALLT - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $27.74 million during the quarter, compared to analyst estimates of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. On average, sell-side analysts predict that Allot Ltd. will post 0.23 earnings per share for the current year.
Allot announced that its board has initiated a share buyback program on Tuesday, June 23rd that allows the company to buyback $40.00 million in outstanding shares. This buyback authorization allows the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its shares are undervalued.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently added to or reduced their stakes in ALLT. QVT Financial LP increased its position in shares of Allot by 22.2% in the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider's stock valued at $36,598,000 after purchasing an additional 817,938 shares during the last quarter. Millennium Management LLC lifted its position in shares of Allot by 239.4% during the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider's stock worth $7,971,000 after purchasing an additional 531,412 shares during the last quarter. Sei Investments Co. grew its stake in shares of Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider's stock worth $3,484,000 after purchasing an additional 461,175 shares in the last quarter. Boothbay Fund Management LLC purchased a new position in Allot in the second quarter valued at $3,164,000. Finally, Potomac Capital Management Inc. purchased a new position in Allot in the fourth quarter valued at $3,483,000. Institutional investors and hedge funds own 51.50% of the company's stock.
Analyst Upgrades and Downgrades
Several equities analysts have commented on ALLT shares. Weiss Ratings restated a "sell (d+)" rating on shares of Allot in a research note on Friday, June 26th. Northland Securities set a $17.00 price objective on Allot in a research note on Thursday, August 13th. Needham & Company LLC lifted 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. Wall Street Zen raised Allot from a "hold" rating to a "buy" rating in a research note on Saturday, May 16th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $15.00 price target on shares of Allot in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $13.38.
Get Our Latest Stock Report on Allot
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.
Further Reading
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