Sei Investments Co. Has $3.48 Million Stake in Allot Ltd. $ALLT

Sei Investments Co. increased its position in shares of Allot Ltd. (NASDAQ:ALLT) by 744.0% during the first quarter, HoldingsChannel reports. The fund owned 523,162 shares of the communications equipment provider’s stock after buying an additional 461,175 shares during the quarter. Sei Investments Co.’s holdings in Allot were worth $3,484,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP bought a new position in Allot in the third quarter valued at about $37,000. Kestra Advisory Services LLC bought a new stake in shares of Allot during the fourth quarter worth about $62,000. State of Wyoming bought a new stake in shares of Allot during the fourth quarter worth about $66,000. Wells Fargo & Company MN increased its stake in shares of Allot by 200.0% in the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after buying an additional 6,000 shares during the period. Finally, Invesco Ltd. acquired a new position in shares of Allot in the fourth quarter valued at approximately $112,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

Allot Trading Down 3.3%

NASDAQ ALLT opened at $7.61 on Friday. The business’s 50-day moving average price is $7.86 and its two-hundred day moving average price is $7.94. Allot Ltd. has a 12 month low of $6.12 and a 12 month high of $11.92. The firm has a market capitalization of $370.23 million, a PE ratio of 58.54 and a beta of 1.48.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%.The company had revenue of $26.43 million during the quarter. As a group, analysts forecast that Allot Ltd. will post 0.21 earnings per share for the current fiscal year.

Allot declared that its board has initiated a stock repurchase plan on Tuesday, June 23rd that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to buy up to 11.7% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently commented on ALLT. Needham & Company LLC lifted their target price on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 price target on shares of Allot in a research report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Allot presently has an average rating of “Moderate Buy” and a consensus target price of $13.62.

Insider Activity at Allot

In other Allot news, SVP Boaz Grossman sold 5,000 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total transaction of $36,850.00. Following the completion of the sale, the senior vice president owned 192,000 shares of the company’s stock, valued at approximately $1,415,040. This represents a 2.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Noam Lelah sold 21,000 shares of the firm’s stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $8.48, for a total transaction of $178,080.00. Following the transaction, the senior vice president owned 176,250 shares of the company’s stock, valued at approximately $1,494,600. The trade was a 10.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 47,556 shares of company stock worth $374,687 over the last ninety days. Insiders own 3.40% of the company’s stock.

Allot Company 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.