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

Sei Investments Co. increased its stake in shares of Allot Ltd. (NASDAQ:ALLT) by 744.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 523,162 shares of the communications equipment provider’s stock after buying an additional 461,175 shares during the quarter. Sei Investments Co. owned about 1.08% of Allot worth $3,484,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in Allot in the 2nd quarter valued at $2,225,000. Russell Investments Group Ltd. acquired a new stake in shares of Allot during the 2nd quarter worth $350,000. Arrowstreet Capital Limited Partnership bought a new position in shares of Allot in the second quarter worth $156,000. Walleye Capital LLC bought a new position in shares of Allot in the second quarter worth $256,000. Finally, Marshall Wace LLP acquired a new position in Allot in the second quarter valued at about $2,320,000. Institutional investors own 51.50% of the company’s stock.

Analyst Ratings Changes

ALLT has been the topic of a number of analyst reports. Needham & Company LLC increased their price objective on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald restated an “overweight” rating and issued a $15.00 target price on shares of Allot in a research report on Wednesday, May 13th. Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Five research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Allot currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.62.

Insider Transactions at Allot

In related news, SVP Noam Lelah sold 21,000 shares of Allot stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.48, for a total transaction of $178,080.00. Following the sale, the senior vice president directly 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Mark Shteiman sold 6,000 shares of the company’s 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 transaction, the insider owned 214,000 shares of the company’s stock, valued at approximately $1,622,120. This represents a 2.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 47,556 shares of company stock valued at $374,687. 3.40% of the stock is currently owned by insiders.

Allot Stock Performance

Allot stock opened at $7.61 on Friday. Allot Ltd. has a 52 week low of $6.12 and a 52 week high of $11.92. The stock has a market capitalization of $370.23 million, a P/E ratio of 58.54 and a beta of 1.48. The stock has a fifty day moving average of $7.86 and a 200-day moving average of $7.94.

Allot (NASDAQ:ALLT) last released its quarterly earnings data 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 business had revenue of $26.43 million for the quarter. On average, research analysts forecast that Allot Ltd. will post 0.21 earnings per share for the current year.

Allot announced that its board has authorized a share repurchase program on Tuesday, June 23rd that authorizes the company to buyback $40.00 million in outstanding shares. This buyback authorization authorizes the communications equipment provider to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

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.