Insider Selling: Allot (NASDAQ:ALLT) Insider Sells $21,390.00 in Stock

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 3,000 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $7.13, for a total value of $21,390.00. Following the completion of the transaction, the insider owned 230,000 shares in the company, valued at $1,639,900. This represents a 1.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• 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 value of $36,600.00.

Allot Stock Up 2.2%

ALLT stock opened at $7.40 on Friday. Allot Ltd. has a twelve month low of $6.12 and a twelve month high of $11.92. The stock’s 50 day moving average is $7.07 and its 200-day moving average is $8.61. The firm has a market capitalization of $360.01 million, a PE ratio of 56.93 and a beta of 1.46.

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

Institutional Trading of Allot

A number of institutional investors and hedge funds have recently modified their holdings of the business. Kanen Wealth Management LLC increased its position in 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 worth $30,994,000 after buying an additional 51,029 shares during the last quarter. Lazard Asset Management LLC purchased a new stake in Allot in the first quarter worth $1,208,000. Sei Investments Co. increased its position in Allot by 744.0% in the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after buying an additional 461,175 shares during the last quarter. Silverberg Bernstein Capital Management LLC increased its position in Allot by 5.7% in the first quarter. Silverberg Bernstein Capital Management LLC now owns 174,878 shares of the communications equipment provider’s stock worth $1,165,000 after buying an additional 9,450 shares during the last quarter. Finally, Invesco Ltd. purchased a new stake in Allot in the fourth quarter worth $112,000. 51.50% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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