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

Allot Ltd. (NASDAQ:ALLT) SVP Noam Lelah sold 21,000 shares of the stock in a transaction 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 owned 176,250 shares in the company, valued at $1,494,600. This trade represents a 10.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Allot Stock Performance

Shares of NASDAQ:ALLT opened at $8.18 on Wednesday. The stock has a market capitalization of $397.96 million, a price-to-earnings ratio of 62.93 and a beta of 1.48. Allot Ltd. has a 1-year low of $6.12 and a 1-year high of $11.92. The company’s fifty day moving average is $7.25 and its two-hundred day moving average is $8.55.

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 company had revenue of $26.43 million for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. Sell-side analysts expect that Allot Ltd. will post 0.21 EPS for the current fiscal year.

Institutional Trading of Allot

A number of large investors have recently modified their holdings of the company. QVT Financial LP increased its holdings in shares of Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock worth $49,765,000 after acquiring an additional 556,730 shares during the period. Kanen Wealth Management LLC increased its holdings in shares of Allot by 1.1% in the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock worth $30,994,000 after acquiring an additional 51,029 shares during the period. Renaissance Technologies LLC increased its holdings in shares of Allot by 10.5% in the 4th quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock worth $11,009,000 after acquiring an additional 106,740 shares during the period. Greenhaven Road Investment Management L.P. increased its holdings in shares of Allot by 12.8% in the 4th quarter. Greenhaven Road Investment Management L.P. now owns 856,991 shares of the communications equipment provider’s stock worth $8,424,000 after acquiring an additional 97,348 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of Allot by 239.4% in the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock worth $7,971,000 after acquiring an additional 531,412 shares during the period. Institutional investors and hedge funds own 51.50% of the company’s stock.

Wall Street Analysts Forecast Growth

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