Noam Lelah Sells 21,000 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) SVP Noam Lelah sold 21,000 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $8.48, for a total transaction of $178,080.00. Following the completion of the sale, the senior vice president owned 176,250 shares of the company’s stock, valued at approximately $1,494,600. This trade represents a 10.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Allot Stock Down 7.0%

Shares of ALLT stock opened at $7.61 on Thursday. The company has a 50 day moving average of $7.31 and a 200-day moving average of $8.54. Allot Ltd. has a 12-month low of $6.12 and a 12-month high of $11.92. The firm has a market cap of $370.23 million, a P/E ratio of 58.54 and a beta of 1.48.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The company had revenue of $26.43 million during the quarter. As a group, equities analysts expect that Allot Ltd. will post 0.21 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ALLT. Quarry LP purchased a new position in Allot in the 3rd quarter valued at approximately $37,000. Kestra Advisory Services LLC purchased a new position in Allot in the 4th quarter valued at approximately $62,000. State of Wyoming purchased a new position in Allot in the 4th quarter valued at approximately $66,000. Wells Fargo & Company MN grew its stake in Allot by 200.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock valued at $88,000 after buying an additional 6,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd purchased a new position in Allot in the 3rd quarter valued at approximately $108,000. 51.50% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. TD Cowen set a $11.00 price target on shares of Allot in a research note on Wednesday, February 25th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price target on shares of Allot in a research note on Wednesday, May 13th. Wall Street Zen upgraded 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 target 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 assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.63.

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.