Allot (NASDAQ:ALLT) SVP Boaz Grossman Sells 4,000 Shares

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 4,000 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $7.80, for a total value of $31,200.00. Following the completion of the sale, the senior vice president directly owned 182,000 shares of the company’s stock, valued at $1,419,600. This trade represents a 2.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Boaz Grossman also recently made the following trade(s):

• On Friday, August 21st, Boaz Grossman sold 6,000 shares of Allot stock. The shares were sold at an average price of $7.45, for a total transaction of $44,700.00.

Allot Trading Down 0.9%

Shares of ALLT stock opened at $7.72 on Tuesday. Allot Ltd. has a twelve month low of $6.12 and a twelve month high of $11.92. The company’s 50-day moving average price is $7.95 and its 200-day moving average price is $7.64. The stock has a market cap of $375.58 million, a price-to-earnings ratio of 35.09 and a beta of 1.48.

Allot (NASDAQ:ALLT) last released its quarterly earnings data on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. The firm had revenue of $27.74 million during the quarter, compared to analysts’ expectations of $27.45 million. Allot had a net margin of 9.40% and a return on equity of 9.64%. As a group, equities research analysts predict that Allot Ltd. will post 0.23 EPS for the current year.

Allot announced that its Board of Directors has initiated a share buyback program on Tuesday, June 23rd that permits the company to buyback $40.00 million in shares. This buyback authorization permits the communications equipment provider to reacquire up to 11.7% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

Institutional Investors Weigh In On Allot

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Quarry LP purchased a new position in shares of Allot during the 3rd quarter worth approximately $37,000. Kestra Advisory Services LLC purchased a new stake in Allot in the fourth quarter valued at approximately $62,000. State of Wyoming acquired a new position in Allot during the fourth quarter worth $66,000. Wells Fargo & Company MN lifted its stake in Allot by 200.0% during the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock worth $88,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Invesco Ltd. acquired a new position in Allot during the fourth quarter worth $112,000. 51.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALLT shares. Northland Securities set a $17.00 price objective on Allot in a 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. Needham & Company LLC lifted their target price on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Finally, Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Allot has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

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.