Allot (NASDAQ:ALLT) Insider Gili Groner Sells 26,666 Shares

Allot Ltd. (NASDAQ:ALLT) insider Gili Groner sold 26,666 shares of the company’s stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $7.86, for a total transaction of $209,594.76. Following the completion of the sale, the insider directly owned 59,467 shares of the company’s stock, valued at $467,410.62. The trade was a 30.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allot Price Performance

Shares of ALLT stock opened at $7.69 on Thursday. The stock’s 50-day moving average is $7.88 and its 200 day moving average is $7.77. Allot Ltd. has a 1-year low of $6.12 and a 1-year high of $11.92. The company has a market cap of $374.12 million, a P/E ratio of 34.96 and a beta of 1.48.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The business had revenue of $27.74 million for the quarter, compared to the consensus estimate of $27.45 million. Allot had a return on equity of 9.64% and a net margin of 9.40%. On average, analysts anticipate that Allot Ltd. will post 0.24 EPS for the current year.

Allot declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, June 23rd that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Northland Securities set a $17.00 price target on shares of Allot in a research report on Thursday, August 13th. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. 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. Needham & Company LLC lifted their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a research report on Friday, June 26th. Five equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Allot has an average rating of “Moderate Buy” and a consensus target price of $13.38.

Institutional Trading of Allot

Several institutional investors have recently added to or reduced their stakes in the stock. QVT Financial LP raised its holdings in Allot by 22.2% in the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock valued at $36,598,000 after acquiring an additional 817,938 shares in the last quarter. Millennium Management LLC grew its holdings in Allot by 239.4% during the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after acquiring an additional 531,412 shares in the last quarter. Sei Investments Co. increased its position in shares of Allot by 744.0% in the 1st quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after purchasing an additional 461,175 shares during the last quarter. Boothbay Fund Management LLC acquired a new stake in shares of Allot in the 2nd quarter valued at $3,164,000. Finally, Potomac Capital Management Inc. purchased a new stake in shares of Allot during the 4th quarter worth $3,483,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

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.