Boaz Grossman Sells 5,000 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 5,000 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total value 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 trade represents a 2.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Allot Stock Up 4.1%

Shares of Allot stock opened at $7.70 on Friday. The firm has a market cap of $374.61 million, a price-to-earnings ratio of 59.24 and a beta of 1.46. The business has a fifty day simple moving average of $7.09 and a 200-day simple moving average of $8.60. Allot Ltd. has a fifty-two week low of $6.12 and a fifty-two week high of $11.92.

Allot (NASDAQ:ALLT) last announced its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. The business had revenue of $26.43 million during the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%. Analysts anticipate that Allot Ltd. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages have recently commented on ALLT. TD Cowen set a $11.00 target price on Allot in a report on Wednesday, February 25th. Needham & Company LLC upped 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 report on Saturday, May 16th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 target price on shares of Allot in a report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $13.63.

Institutional Investors Weigh In On Allot

Several hedge funds have recently modified their holdings of the stock. Kanen Wealth Management LLC lifted its holdings in shares of Allot by 1.1% during the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after purchasing an additional 51,029 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Allot in the 1st quarter worth about $1,208,000. Sei Investments Co. lifted its stake in Allot by 744.0% in the 1st quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after acquiring an additional 461,175 shares in the last quarter. Silverberg Bernstein Capital Management LLC lifted its stake in Allot by 5.7% in the 1st quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock worth $1,165,000 after acquiring an additional 9,450 shares in the last quarter. Finally, Invesco Ltd. purchased a new stake in Allot in the 4th quarter worth about $112,000. 51.50% of the stock is owned by hedge funds and other institutional investors.

About Allot

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.