Renaissance Technologies LLC Lowers Holdings in Allot Ltd. $ALLT

Renaissance Technologies LLC trimmed its stake in Allot Ltd. (NASDAQ:ALLT) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 985,098 shares of the communications equipment provider’s stock after selling 134,841 shares during the quarter. Renaissance Technologies LLC’s holdings in Allot were worth $6,561,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of the stock. Worth Venture Partners LLC increased its holdings in shares of Allot by 4.6% during the third quarter. Worth Venture Partners LLC now owns 43,941 shares of the communications equipment provider’s stock valued at $465,000 after acquiring an additional 1,946 shares in the last quarter. DCF Advisers LLC boosted its stake in Allot by 2.9% in the 4th quarter. DCF Advisers LLC now owns 72,000 shares of the communications equipment provider’s stock worth $708,000 after purchasing an additional 2,000 shares in the last quarter. Magnetar Financial LLC grew its position in Allot by 10.8% during the 3rd quarter. Magnetar Financial LLC now owns 22,404 shares of the communications equipment provider’s stock valued at $237,000 after purchasing an additional 2,192 shares during the last quarter. XTX Topco Ltd grew its position in Allot by 8.5% during the 4th quarter. XTX Topco Ltd now owns 34,536 shares of the communications equipment provider’s stock valued at $339,000 after purchasing an additional 2,718 shares during the last quarter. Finally, Quarry LP bought a new stake in Allot during the 3rd quarter valued at about $37,000. 51.50% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALLT. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $15.00 target price on shares of Allot in a report on Wednesday, May 13th. Needham & Company LLC increased their price target on shares of Allot from $8.50 to $10.50 and gave the company a “buy” rating in a report on Wednesday, May 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th. Finally, Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Five equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.62.

Insider Transactions at Allot

In other news, SVP Boaz Grossman sold 5,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $7.37, for a total transaction of $36,850.00. Following the completion of the transaction, the senior vice president directly owned 192,000 shares of the company’s stock, valued at $1,415,040. The trade was a 2.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Noam Lelah sold 21,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $8.48, for a total transaction of $178,080.00. Following the transaction, the senior vice president directly owned 176,250 shares of the company’s stock, valued at $1,494,600. The trade was a 10.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 47,556 shares of company stock worth $374,687 over the last three months. 3.40% of the stock is currently owned by company insiders.

Allot Price Performance

Allot stock opened at $8.19 on Wednesday. Allot Ltd. has a one year low of $6.12 and a one year high of $11.92. The business’s fifty day moving average is $7.87 and its 200 day moving average is $7.97. The stock has a market capitalization of $398.44 million, a PE ratio of 63.00 and a beta of 1.48.

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

Allot declared that its board has initiated a share buyback program on Tuesday, June 23rd that permits the company to repurchase $40.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to purchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.

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.