Mark Shteiman Sells 6,000 Shares of Allot (NASDAQ:ALLT) Stock

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 6,000 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $7.58, for a total value of $45,480.00. Following the completion of the sale, the insider owned 214,000 shares of the company’s stock, valued at $1,622,120. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Mark Shteiman also recently made the following trade(s):

• On Thursday, May 21st, Mark Shteiman sold 5,000 shares of Allot stock. The stock was sold at an average price of $7.39, for a total value of $36,950.00.
• On Tuesday, May 19th, Mark Shteiman sold 5,000 shares of Allot stock. The stock was sold at an average price of $7.32, for a total value of $36,600.00.
• On Monday, May 18th, Mark Shteiman sold 3,000 shares of Allot stock. The stock was sold at an average price of $7.13, for a total value of $21,390.00.

Allot Stock Performance

Shares of ALLT stock opened at $7.70 on Tuesday. Allot Ltd. has a 52-week low of $6.12 and a 52-week high of $11.92. The firm has a market capitalization of $374.61 million, a PE ratio of 59.24 and a beta of 1.46. The stock has a fifty day simple moving average of $7.11 and a two-hundred day simple moving average of $8.59.

Allot (NASDAQ:ALLT) last issued its quarterly earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%.The business had revenue of $26.43 million during the quarter. On average, sell-side analysts forecast that Allot Ltd. will post 0.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. QVT Financial LP boosted its holdings in shares of Allot by 12.4% during 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 purchasing an additional 556,730 shares during the last quarter. Kanen Wealth Management LLC boosted its holdings in shares of Allot by 1.1% during the 1st quarter. Kanen Wealth Management LLC now owns 4,653,697 shares of the communications equipment provider’s stock valued at $30,994,000 after purchasing an additional 51,029 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of Allot by 10.5% during the 4th quarter. Renaissance Technologies LLC now owns 1,119,939 shares of the communications equipment provider’s stock valued at $11,009,000 after purchasing an additional 106,740 shares during the last quarter. Greenhaven Road Investment Management L.P. boosted its holdings in shares of Allot by 12.8% during 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 purchasing an additional 97,348 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in shares of Allot by 239.4% during the 3rd quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider’s stock valued at $7,971,000 after purchasing an additional 531,412 shares during the last quarter. Institutional investors own 51.50% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. TD Cowen set a $11.00 price target on Allot in a research note on Wednesday, February 25th. Needham & Company LLC increased their price target on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Finally, Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 price objective on shares of Allot in a report on Wednesday, May 13th. Five 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, Allot presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

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.