Lazard Asset Management LLC Buys Shares of 181,383 Allot Ltd. $ALLT

Lazard Asset Management LLC purchased a new position in shares of Allot Ltd. (NASDAQ:ALLT) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 181,383 shares of the communications equipment provider’s stock, valued at approximately $1,208,000.

A number of other hedge funds also recently modified their holdings of the stock. Quarry LP purchased a new position in Allot in the third quarter valued at approximately $37,000. Kestra Advisory Services LLC bought a new stake in shares of Allot in the fourth quarter valued at $62,000. State of Wyoming bought a new stake in shares of Allot in the fourth quarter valued at $66,000. Wells Fargo & Company MN lifted its position in shares of Allot by 200.0% during 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 during the last quarter. Finally, Invesco Ltd. purchased a new position in shares of Allot during the 4th quarter valued at $112,000. Institutional investors own 51.50% of the company’s stock.

Wall Street Analysts Forecast Growth

ALLT has been the subject of several recent research reports. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings reissued a “sell (d+)” rating on shares of Allot in a report on Friday, June 26th. Cantor Fitzgerald reissued an “overweight” rating and issued a $15.00 price target on shares of Allot in a report on Wednesday, May 13th. Finally, Needham & Company LLC lifted 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. Five investment 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $13.62.

Allot Trading Up 3.8%

Shares of NASDAQ ALLT opened at $8.19 on Wednesday. The stock has a market cap of $398.44 million, a price-to-earnings ratio of 63.00 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 stock’s 50-day moving average is $7.87 and its 200 day moving average is $7.97.

Allot (NASDAQ:ALLT) last announced its quarterly earnings data 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. On average, analysts forecast that Allot Ltd. will post 0.21 EPS for the current fiscal year.

Allot declared that its Board of Directors has approved a stock repurchase plan on Tuesday, June 23rd that permits the company to buyback $40.00 million in shares. This buyback authorization permits the communications equipment provider to purchase up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, SVP Noam Lelah sold 21,000 shares of the firm’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 value of $178,080.00. Following the transaction, the senior vice president owned 176,250 shares in the company, valued at approximately $1,494,600. This trade represents a 10.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Boaz Grossman sold 5,000 shares of Allot stock in a transaction on Wednesday, May 20th. The stock was 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 in the company, valued at approximately $1,415,040. The trade was a 2.54% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 47,556 shares of company stock valued at $374,687. 3.40% of the stock is currently owned by insiders.

Allot 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.