Lazard Asset Management LLC Takes $1.21 Million Position in Allot Ltd. $ALLT

Lazard Asset Management LLC acquired a new position in shares of Allot Ltd. (NASDAQ:ALLT) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 181,383 shares of the communications equipment provider’s stock, valued at approximately $1,208,000. Lazard Asset Management LLC owned approximately 0.37% of Allot at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in ALLT. Quarry LP bought a new stake in Allot in the 3rd quarter valued at about $37,000. Kestra Advisory Services LLC acquired a new stake in Allot in the fourth quarter valued at approximately $62,000. State of Wyoming acquired a new position in shares of Allot during the fourth quarter worth approximately $66,000. Wells Fargo & Company MN lifted its holdings 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 purchasing an additional 6,000 shares in the last quarter. Finally, Invesco Ltd. bought a new position in shares of Allot in the 4th quarter worth $112,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ALLT shares. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price objective on shares of Allot in a report on Wednesday, May 13th. Needham & Company LLC upped 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Finally, Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. 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 company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $13.62.

Allot Trading Up 3.8%

Shares of NASDAQ:ALLT opened at $8.19 on Wednesday. The stock’s fifty day simple moving average is $7.87 and its two-hundred day simple moving average is $7.97. Allot Ltd. has a 1-year low of $6.12 and a 1-year high of $11.92. The stock has a market cap of $398.44 million, a PE ratio of 63.00 and a beta of 1.48.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The firm had revenue of $26.43 million for the quarter. On average, sell-side analysts forecast that Allot Ltd. will post 0.21 earnings per share for the current fiscal year.

Allot declared that its Board of Directors has authorized a share buyback program on Tuesday, June 23rd that authorizes the company to repurchase $40.00 million in outstanding shares. This repurchase authorization authorizes the communications equipment provider to purchase up to 11.7% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Insider Activity at Allot

In related news, insider Mark Shteiman sold 6,000 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $7.58, for a total transaction of $45,480.00. Following the completion of the sale, the insider directly owned 214,000 shares of the company’s stock, valued at approximately $1,622,120. This trade represents a 2.73% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Boaz Grossman sold 5,000 shares of Allot stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $7.37, for a total value of $36,850.00. Following the sale, the senior vice president owned 192,000 shares in the company, valued at $1,415,040. This trade represents a 2.54% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 47,556 shares of company stock valued at $374,687. 3.40% of the stock is owned by insiders.

Allot Profile

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.