Greenhaven Road Investment Management L.P. Increases Stock Holdings in Allot Ltd. $ALLT

Greenhaven Road Investment Management L.P. boosted its position in Allot Ltd. (NASDAQ:ALLT) by 12.8% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 856,991 shares of the communications equipment provider’s stock after acquiring an additional 97,348 shares during the period. Allot accounts for approximately 1.4% of Greenhaven Road Investment Management L.P.’s portfolio, making the stock its 9th largest holding. Greenhaven Road Investment Management L.P.’s holdings in Allot were worth $8,424,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quarry LP bought a new stake in shares of Allot during the third quarter valued at about $37,000. State of Wyoming bought a new stake in shares of Allot during the fourth quarter valued at about $66,000. Wells Fargo & Company MN increased its position in shares of Allot by 200.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after buying an additional 6,000 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of Allot during the fourth quarter valued at about $148,000. Finally, Advisory Alpha LLC bought a new stake in shares of Allot during the fourth quarter valued at about $153,000. 51.50% of the stock is currently owned by institutional investors.

Allot Trading Up 2.2%

ALLT stock opened at $7.37 on Friday. The company’s 50 day moving average is $7.42 and its 200 day moving average is $8.47. The stock has a market cap of $358.55 million, a price-to-earnings ratio of 56.70 and a beta of 1.48. Allot Ltd. has a 1-year low of $6.12 and a 1-year high of $11.92.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share 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%. As a group, sell-side analysts forecast that Allot Ltd. will post 0.21 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. TD Cowen set a $11.00 price target on Allot in a research report on Wednesday, February 25th. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price target on shares of Allot in a research report on Wednesday, May 13th. Finally, Needham & Company LLC upped their price target on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $13.63.

Insider Buying and Selling

In related news, 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 value of $45,480.00. Following the transaction, the insider directly owned 214,000 shares in the company, valued at approximately $1,622,120. This represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Boaz Grossman sold 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $7.37, for a total transaction of $36,850.00. Following the completion of the transaction, the senior vice president owned 192,000 shares in the company, valued at approximately $1,415,040. This trade represents a 2.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 45,556 shares of company stock worth $359,464. Insiders own 3.40% of the company’s stock.

Allot Company Profile

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.