Potomac Capital Management Inc. Takes $3.48 Million Position in Allot Ltd. $ALLT

Potomac Capital Management Inc. acquired a new stake in Allot Ltd. (NASDAQ:ALLT) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 354,288 shares of the communications equipment provider’s stock, valued at approximately $3,483,000. Allot makes up about 2.8% of Potomac Capital Management Inc.’s holdings, making the stock its 9th biggest position. Potomac Capital Management Inc. owned 0.73% of Allot as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the company. Raiffeisen Bank International AG acquired a new position in Allot during the 3rd quarter worth $2,937,000. Greenhaven Road Investment Management L.P. grew its stake in Allot by 21.3% during the 3rd quarter. Greenhaven Road Investment Management L.P. now owns 759,643 shares of the communications equipment provider’s stock worth $8,037,000 after purchasing an additional 133,619 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Allot by 8.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 281,505 shares of the communications equipment provider’s stock worth $2,978,000 after purchasing an additional 21,242 shares in the last quarter. Osaic Holdings Inc. grew its stake in Allot by 56.6% during the 2nd quarter. Osaic Holdings Inc. now owns 38,567 shares of the communications equipment provider’s stock worth $330,000 after purchasing an additional 13,934 shares in the last quarter. Finally, Engineers Gate Manager LP grew its stake in Allot by 61.5% during the 2nd quarter. Engineers Gate Manager LP now owns 62,010 shares of the communications equipment provider’s stock worth $530,000 after purchasing an additional 23,614 shares in the last quarter. 51.50% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on ALLT shares. Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Needham & Company LLC boosted their target price on Allot from $8.50 to $10.50 and gave the stock a “buy” rating in a research note on Wednesday, May 13th. Cantor Fitzgerald reissued an “overweight” rating and set a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Finally, TD Cowen set a $11.00 price objective on shares of Allot in a research report on Wednesday, February 25th. 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.com, Allot has a consensus rating of “Moderate Buy” and an average price target of $13.63.

Allot Stock Performance

NASDAQ:ALLT opened at $7.21 on Wednesday. The stock has a 50-day simple moving average of $7.38 and a 200-day simple moving average of $8.51. The stock has a market cap of $350.77 million, a P/E ratio of 55.47 and a beta of 1.48. Allot Ltd. has a 1 year low of $6.12 and a 1 year high of $11.92.

Allot (NASDAQ:ALLT) last released its quarterly earnings data on Tuesday, March 31st. The communications equipment provider reported $0.06 earnings per share (EPS) for the quarter. The business had revenue of $26.43 million during the quarter. Allot had a return on equity of 7.38% and a net margin of 5.68%. On average, equities research analysts predict that Allot Ltd. will post 0.21 EPS for the current year.

Insider Transactions at Allot

In other news, SVP Boaz Grossman sold 5,000 shares of the company’s stock in a transaction dated 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 of the company’s stock, valued at approximately $1,415,040. This represents a 2.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Noam Lelah sold 21,000 shares of the company’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $8.48, for a total value of $178,080.00. Following the transaction, the senior vice president directly owned 176,250 shares of the company’s stock, valued at approximately $1,494,600. This represents a 10.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 45,556 shares of company stock valued at $359,464. 3.40% of the stock is currently owned by corporate insiders.

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.