Insider Selling: Allot (NASDAQ:ALLT) Insider Sells 6,000 Shares of Stock

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 6,000 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $7.58, for a total transaction of $45,480.00. Following the completion of the transaction, the insider directly owned 214,000 shares of the company’s stock, valued at approximately $1,622,120. The trade was a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

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

• On Thursday, May 21st, Mark Shteiman sold 5,000 shares of Allot stock. The shares were sold at an average price of $7.39, for a total transaction of $36,950.00.
• On Tuesday, May 19th, Mark Shteiman sold 5,000 shares of Allot stock. The shares were sold at an average price of $7.32, for a total transaction of $36,600.00.
• On Monday, May 18th, Mark Shteiman sold 3,000 shares of Allot stock. The shares were sold at an average price of $7.13, for a total transaction of $21,390.00.

Allot Stock Performance

Shares of NASDAQ:ALLT opened at $7.70 on Tuesday. Allot Ltd. has a 12 month low of $6.12 and a 12 month high of $11.92. The company has a 50-day moving average price of $7.11 and a 200 day moving average price of $8.59. The company has a market cap of $374.61 million, a price-to-earnings ratio of 59.24 and a beta of 1.46.

Allot (NASDAQ:ALLT) last announced its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The firm had revenue of $26.43 million during the quarter. As a group, equities analysts forecast that Allot Ltd. will post 0.2 EPS for the current year.

Institutional Investors Weigh In On Allot

Institutional investors have recently bought and sold shares of the company. Quarry LP acquired a new stake in Allot in the third quarter valued at approximately $37,000. Kestra Advisory Services LLC acquired a new stake in Allot in the fourth quarter valued at approximately $62,000. State of Wyoming acquired a new stake in Allot in the fourth quarter valued at approximately $66,000. Wells Fargo & Company MN lifted its stake 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 worth $88,000 after buying an additional 6,000 shares during the period. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of Allot during the third quarter worth $108,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.