Boaz Grossman Sells 4,000 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) SVP Boaz Grossman sold 4,000 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $7.80, for a total transaction of $31,200.00. Following the completion of the transaction, the senior vice president owned 182,000 shares of the company’s stock, valued at $1,419,600. This represents a 2.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Boaz Grossman also recently made the following trade(s):

• On Friday, August 21st, Boaz Grossman sold 6,000 shares of Allot stock. The stock was sold at an average price of $7.45, for a total value of $44,700.00.

Allot Stock Performance

Allot stock opened at $7.56 on Wednesday. Allot Ltd. has a fifty-two week low of $6.12 and a fifty-two week high of $11.92. The company has a market capitalization of $367.79 million, a P/E ratio of 34.37 and a beta of 1.50. The stock has a 50-day simple moving average of $7.95 and a 200-day simple moving average of $7.63.

Allot (NASDAQ:ALLT) last released its quarterly earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.06 by $0.03. The firm had revenue of $27.74 million for the quarter, compared to the consensus estimate of $27.45 million. Allot had a return on equity of 9.64% and a net margin of 9.40%. As a group, analysts forecast that Allot Ltd. will post 0.23 earnings per share for the current year.

Allot announced that its board has authorized a stock buyback plan on Tuesday, June 23rd that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the communications equipment provider to purchase up to 11.7% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ALLT. Northland Securities set a $17.00 target price on shares of Allot in a report on Thursday, August 13th. Cantor Fitzgerald reiterated an “overweight” rating and set a $15.00 price target on shares of Allot in a research note on Wednesday, May 13th. Needham & Company LLC raised their price objective on shares of Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research report on Wednesday, May 13th. Weiss Ratings restated a “sell (d+)” rating on shares of Allot in a research note on Friday, June 26th. Finally, Wall Street Zen raised shares of Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Four 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’s stock. Based on data from MarketBeat.com, Allot has an average rating of “Moderate Buy” and an average target price of $13.38.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Sei Investments Co. raised its stake in shares of Allot by 744.0% during the first quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider’s stock worth $3,484,000 after purchasing an additional 461,175 shares during the last quarter. Lazard Asset Management LLC purchased a new position in Allot in the 1st quarter valued at $1,208,000. QVT Financial LP increased its stake in Allot by 12.4% in the 4th quarter. QVT Financial LP now owns 5,062,523 shares of the communications equipment provider’s stock valued at $49,765,000 after buying an additional 556,730 shares during the period. Greenhaven Road Investment Management L.P. increased its stake in 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 valued at $8,424,000 after buying an additional 97,348 shares during the period. Finally, Potomac Capital Management Inc. acquired a new position in Allot in the 4th quarter valued at $3,483,000. 51.50% of the stock is currently owned by hedge funds and other institutional investors.

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.