Gili Groner Sells 26,666 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) insider Gili Groner sold 26,666 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $7.86, for a total value of $209,594.76. Following the completion of the sale, the insider owned 59,467 shares of the company’s stock, valued at approximately $467,410.62. This represents a 30.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allot Trading Down 3.1%

Shares of ALLT opened at $7.45 on Friday. The firm has a market cap of $362.44 million, a PE ratio of 33.87 and a beta of 1.48. The company’s 50 day simple moving average is $7.88 and its 200-day simple moving average is $7.75. Allot Ltd. has a 12-month low of $6.12 and a 12-month high of $11.92.

Allot (NASDAQ:ALLT) last announced its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.06 by $0.03. Allot had a net margin of 9.40% and a return on equity of 9.64%. The business had revenue of $27.74 million for the quarter, compared to analysts’ expectations of $27.45 million. As a group, equities research analysts forecast that Allot Ltd. will post 0.24 EPS for the current fiscal year.

Allot announced that its Board of Directors has approved a share repurchase plan on Tuesday, June 23rd that allows the company to repurchase $40.00 million in shares. This repurchase authorization allows the communications equipment provider to repurchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its shares are undervalued.

Institutional Investors Weigh In On Allot

A number of hedge funds have recently added to or reduced their stakes in the company. QVT Financial LP boosted its position in shares of Allot by 12.4% during the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock worth $49,765,000 after purchasing an additional 556,730 shares in the last quarter. Kanen Wealth Management LLC lifted its stake in shares of Allot by 1.1% in the first quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after purchasing an additional 51,029 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Allot by 10.5% in the fourth quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after purchasing an additional 106,740 shares during the period. Greenhaven Road Investment Management L.P. boosted its holdings in Allot by 12.8% during the fourth quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after buying an additional 97,348 shares in the last quarter. Finally, Millennium Management LLC grew its position in Allot by 239.4% during the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after buying an additional 531,412 shares during the period. Institutional investors and hedge funds own 51.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ALLT. Northland Securities set a $17.00 price objective on Allot in a research note on Thursday, August 13th. 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. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Finally, Needham & Company LLC increased their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Four analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.38.

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.