Boaz Grossman Sells 6,000 Shares of Allot (NASDAQ:ALLT) Stock

by · The Markets Daily

Allot Ltd. (NASDAQ:ALLT – Get Free Report) SVP Boaz Grossman sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, August 21st. The shares were sold at an average price of $7.45, for a total transaction of $44,700.00. Following the completion of the sale, the senior vice president directly owned 186,000 shares of the company’s stock, valued at $1,385,700. The trade was a 3.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link.

Allot Stock Performance

ALLT opened at $7.61 on Wednesday. The firm’s fifty day moving average is $7.90 and its two-hundred day moving average is $7.70. The firm has a market cap of $370.23 million, a PE ratio of 34.59 and a beta of 1.48. Allot Ltd. has a twelve month low of $6.12 and a twelve month high of $11.92.

Allot (NASDAQ:ALLT – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.06 by $0.03. Allot had a net margin of 9.40% and a return on equity of 9.64%. The company had revenue of $27.74 million during the quarter, compared to analyst estimates of $27.45 million. Equities analysts forecast that Allot Ltd. will post 0.23 EPS for the current fiscal year.

Allot declared that its board has authorized a stock 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 typically an indication that the company’s management believes its stock is undervalued.

Hedge Funds Weigh In On Allot

Hedge funds have recently made changes to their positions in the business. JPMorgan Chase & Co. acquired a new stake in shares of Allot in the second quarter valued at approximately $2,225,000. Russell Investments Group Ltd. acquired a new position in Allot during the second quarter worth $350,000. Arrowstreet Capital Limited Partnership bought a new position in Allot in the second quarter valued at $156,000. Walleye Capital LLC bought a new position in Allot in the second quarter valued at $256,000. Finally, Marshall Wace LLP acquired a new stake in Allot in the 2nd quarter valued at $2,320,000. 51.50% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ALLT shares. Northland Securities set a $17.00 price target on Allot in a research report on Thursday, August 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th. Needham & Company LLC upped their price target on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Finally, Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Four 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. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $13.38.

Check Out Our Latest Analysis on Allot

Allot Company Profile

(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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