Allot (NASDAQ:ALLT) Stock: Insider Eyal David Harari Sells 28,923 Shares

Allot Ltd. (NASDAQ:ALLT) CEO Eyal Harari sold 28,923 shares of the firm’s stock in a transaction that occurred on Monday, November 9th. The stock was sold at an average price of $8.92, for a total transaction of $257,993.16. Following the sale, the chief executive officer owned 1,070,195 shares in the company, valued at $9,546,139.40. This trade represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Allot Stock Performance

Shares of ALLT opened at $8.97 on Thursday. The firm has a market cap of $442.25 million, a P/E ratio of 40.77 and a beta of 1.51. Allot Ltd. has a twelve month low of $6.12 and a twelve month high of $11.92. The firm’s 50 day moving average price is $8.44 and its two-hundred day moving average price is $7.97.

Allot (NASDAQ:ALLT) last issued 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 net margin of 9.40% and a return on equity of 9.64%. The company had revenue of $27.74 million during the quarter, compared to the consensus estimate of $27.45 million. On average, sell-side analysts anticipate that Allot Ltd. will post 0.23 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Allot

Several hedge funds have recently modified their holdings of the stock. Eurizon Capital SGR S.p.A. acquired a new position in Allot during the third quarter valued at approximately $247,000. R Squared Ltd acquired a new position in shares of Allot during the 3rd quarter worth approximately $146,000. Penbrook Management LLC increased its position in shares of Allot by 37.1% during the 3rd quarter. Penbrook Management LLC now owns 377,395 shares of the communications equipment provider’s stock worth $3,185,000 after purchasing an additional 102,100 shares during the last quarter. Squarepoint Ops LLC increased its position in shares of Allot by 36.0% during the 2nd quarter. Squarepoint Ops LLC now owns 14,775 shares of the communications equipment provider’s stock worth $131,000 after purchasing an additional 3,908 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. raised its stake in shares of Allot by 24.4% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 96,833 shares of the communications equipment provider’s stock worth $857,000 after purchasing an additional 19,013 shares in the last quarter. Institutional investors own 51.50% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Weiss Ratings reiterated a “sell (d+)” rating on shares of Allot in a report on Tuesday, September 22nd. Northland Securities set a $17.00 price target on Allot in a research note on Thursday, August 13th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.38.

About Allot

Allot Ltd. develops network intelligence, optimization and cybersecurity solutions for communications service providers, enterprises and public-sector organizations. Its software and platforms help customers manage network traffic, monitor service performance and protect users and networks from online threats. Its offerings include network traffic management and analytics, as well as security services such as protection against distributed denial-of-service attacks and threats delivered through domain name system (DNS) traffic.