Allot (NASDAQ:ALLT) Insider Mark Shteiman Sells 6,000 Shares of Stock

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 6,000 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $7.58, for a total transaction of $45,480.00. Following the sale, the insider owned 214,000 shares in the company, valued at $1,622,120. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Mark Shteiman also recently made the following trade(s):

• On Thursday, May 21st, Mark Shteiman sold 5,000 shares of Allot stock. The shares were sold at an average price of $7.39, for a total transaction of $36,950.00.
• On Tuesday, May 19th, Mark Shteiman sold 5,000 shares of Allot stock. The shares were sold at an average price of $7.32, for a total transaction of $36,600.00.
• On Monday, May 18th, Mark Shteiman sold 3,000 shares of Allot stock. The shares were sold at an average price of $7.13, for a total transaction of $21,390.00.

Allot Trading Down 0.1%

Shares of ALLT stock opened at $7.69 on Wednesday. The stock has a market capitalization of $374.12 million, a P/E ratio of 59.16 and a beta of 1.46. The firm’s 50 day moving average is $7.14 and its 200 day moving average is $8.58. Allot Ltd. has a 12 month low of $6.12 and a 12 month high of $11.92.

Allot (NASDAQ:ALLT) last announced its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. The company had revenue of $26.43 million for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. On average, equities analysts predict that Allot Ltd. will post 0.2 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ALLT. Wall Street Zen upgraded shares of Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. TD Cowen set a $11.00 target price on shares of Allot in a research note on Wednesday, February 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Finally, Needham & Company LLC increased their target price 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. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Allot presently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

Institutional Trading of Allot

Several institutional investors and hedge funds have recently bought and sold shares of ALLT. QVT Financial LP lifted its stake in Allot by 22.2% in the 2nd quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider’s stock worth $36,598,000 after purchasing an additional 817,938 shares in the last quarter. Millennium Management LLC lifted its stake in Allot by 239.4% in the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after purchasing an additional 531,412 shares in the last quarter. Sei Investments Co. raised its position in shares of Allot by 744.0% during the 1st quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after buying an additional 461,175 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in shares of Allot during 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 valued at $3,483,000. 51.50% of the stock is currently 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.