Allot (NASDAQ:ALLT) Insider Sells $209,594.76 in Stock

Allot Ltd. (NASDAQ:ALLT) insider Gili Groner sold 26,666 shares of Allot stock in a transaction dated Tuesday, August 18th. The stock was sold at an average price of $7.86, for a total value of $209,594.76. Following the sale, the insider directly owned 59,467 shares in the company, valued at approximately $467,410.62. The trade was a 30.96% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allot Stock Performance

Shares of ALLT opened at $7.48 on Friday. The company has a market capitalization of $363.90 million, a P/E ratio of 34.00 and a beta of 1.48. Allot Ltd. has a one year low of $6.12 and a one year high of $11.92. The stock has a 50-day moving average price of $7.88 and a 200 day moving average price of $7.75.

Allot (NASDAQ:ALLT) last posted its quarterly earnings data on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.06 by $0.03. Allot had a return on equity of 9.64% and a net margin of 9.40%.The company had revenue of $27.74 million for the quarter, compared to the consensus estimate of $27.45 million. As a group, equities research analysts forecast that Allot Ltd. will post 0.24 earnings per share for the current fiscal year.

Allot announced that its board has authorized a share repurchase program on Tuesday, June 23rd that authorizes the company to buyback $40.00 million in shares. This buyback authorization authorizes the communications equipment provider to buy up to 11.7% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its shares are undervalued.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ALLT. Weiss Ratings reaffirmed 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 target price on shares of Allot in a research report on Wednesday, May 13th. Northland Securities set a $17.00 target price on shares of Allot in a research report on Thursday, August 13th. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Needham & Company LLC increased their target price on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.38.

Institutional Investors Weigh In On Allot

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. acquired a new position in Allot in the second quarter valued at approximately $2,225,000. Russell Investments Group Ltd. bought a new position in shares of Allot during the second quarter valued at approximately $350,000. Arrowstreet Capital Limited Partnership acquired a new stake in shares of Allot during the 2nd quarter worth approximately $156,000. Walleye Capital LLC acquired a new stake in shares of Allot during the 2nd quarter worth approximately $256,000. Finally, Marshall Wace LLP bought a new stake in shares of Allot in the 2nd quarter worth approximately $2,320,000. Institutional investors and hedge funds own 51.50% of the company’s stock.

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.