Insider Selling: Allot (NASDAQ:ALLT) Insider Sells 3,000 Shares of Stock

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 3,000 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $7.13, for a total value of $21,390.00. Following the completion of the sale, the insider directly owned 230,000 shares of the company’s stock, valued at approximately $1,639,900. The trade was a 1.29% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Allot Stock Performance

Shares of ALLT stock traded down $0.02 on Tuesday, hitting $7.17. The company had a trading volume of 121,755 shares, compared to its average volume of 471,654. The firm has a market cap of $348.58 million, a P/E ratio of 55.20 and a beta of 1.46. The stock’s 50-day moving average is $7.04 and its two-hundred day moving average is $8.66. Allot Ltd. has a twelve month low of $6.12 and a twelve month high of $11.92.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Tuesday, May 12th. The communications equipment provider reported $0.06 earnings per share for the quarter, beating the consensus estimate of $0.05 by $0.01. Allot had a return on equity of 7.38% and a net margin of 5.68%.The company had revenue of $26.43 million during the quarter, compared to analysts’ expectations of $26.12 million. Equities research analysts predict that Allot Ltd. will post 0.2 EPS for the current year.

Wall Street Analysts Forecast Growth

ALLT has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Allot in a research note on Wednesday, January 21st. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a research note on Saturday. TD Cowen set a $11.00 target price on Allot in a research note on Wednesday, February 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Finally, Zacks Research cut Allot from a “strong-buy” rating to a “hold” rating in a research note on Monday, January 19th. Five research 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, Allot has a consensus rating of “Moderate Buy” and an average target price of $13.63.

Institutional Investors Weigh In On Allot

A number of hedge funds have recently added to or reduced their stakes in ALLT. QVT Financial LP grew its stake 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 during the period. Millennium Management LLC grew its stake in Allot by 239.4% in the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after acquiring an additional 531,412 shares during the period. Sei Investments Co. grew its stake in Allot by 744.0% in the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock valued at $3,484,000 after acquiring an additional 461,175 shares during the period. Boothbay Fund Management LLC acquired a new stake in Allot in the second quarter valued at approximately $3,164,000. Finally, Potomac Capital Management Inc. acquired a new stake in Allot in the fourth quarter valued at approximately $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.