Allot (NASDAQ:ALLT) Insider Mark Shteiman Sells 5,000 Shares

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 5,000 shares of Allot stock in a transaction dated Tuesday, May 19th. The stock was sold at an average price of $7.32, for a total transaction of $36,600.00. Following the completion of the sale, the insider owned 225,000 shares of the company’s stock, valued at $1,647,000. This trade represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Monday, May 18th, Mark Shteiman sold 3,000 shares of Allot stock. The stock was sold at an average price of $7.13, for a total transaction of $21,390.00.

Allot Stock Down 3.2%

Shares of Allot stock opened at $7.24 on Thursday. Allot Ltd. has a twelve month low of $6.12 and a twelve month high of $11.92. The company has a 50-day simple moving average of $7.06 and a two-hundred day simple moving average of $8.62. The stock has a market capitalization of $352.19 million, a price-to-earnings ratio of 55.70 and a beta of 1.46.

Allot (NASDAQ:ALLT) last issued its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The business had revenue of $26.43 million during the quarter. On average, sell-side analysts anticipate that Allot Ltd. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

ALLT has been the subject of several analyst reports. TD Cowen set a $11.00 price objective on shares of Allot in a research note on Wednesday, February 25th. Weiss Ratings restated a “sell (d-)” rating on shares of Allot in a research report on Wednesday, January 21st. Needham & Company LLC boosted their target price on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research report on Wednesday, May 13th. Wall Street Zen upgraded shares of Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Finally, 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. Five equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Allot has a consensus rating of “Moderate Buy” and an average price target of $13.63.

Hedge Funds Weigh In On Allot

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raiffeisen Bank International AG acquired a new position in Allot during the 3rd quarter worth approximately $2,937,000. Greenhaven Road Investment Management L.P. increased its position in Allot by 21.3% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 759,643 shares of the communications equipment provider’s stock worth $8,037,000 after purchasing an additional 133,619 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Allot during the 3rd quarter worth approximately $108,000. Advisory Alpha LLC acquired a new position in Allot during the 4th quarter worth approximately $153,000. Finally, State of New Jersey Common Pension Fund D acquired a new position in Allot during the 4th quarter worth approximately $226,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

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.