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

Allot Ltd. (NASDAQ:ALLT) insider Mark Shteiman sold 6,000 shares of the firm’s stock in a transaction that occurred 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 directly owned 214,000 shares in the company, valued at approximately $1,622,120. This trade represents a 2.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible 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 shares were 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 shares were sold at an average price of $7.13, for a total value of $21,390.00.

Allot Price Performance

Shares of Allot stock opened at $7.71 on Thursday. The business’s fifty day moving average price is $7.16 and its two-hundred day moving average price is $8.57. The company has a market capitalization of $375.09 million, a P/E ratio of 59.31 and a beta of 1.46. Allot Ltd. has a 1-year low of $6.12 and a 1-year high of $11.92.

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

Institutional Trading of Allot

Hedge funds and other institutional investors have recently modified their holdings of the company. Quarry LP bought a new stake in shares of Allot in the 3rd quarter worth $37,000. Kestra Advisory Services LLC bought a new stake in shares of Allot in the 4th quarter worth $62,000. State of Wyoming bought a new stake in shares of Allot in the 4th quarter worth $66,000. Wells Fargo & Company MN raised its stake in shares of Allot by 200.0% in the 4th quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider’s stock worth $88,000 after buying an additional 6,000 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Allot in the 3rd quarter worth $108,000. Institutional investors own 51.50% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ALLT shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $15.00 target price on shares of Allot in a research note on Wednesday, May 13th. Needham & Company LLC lifted their target price on Allot from $8.50 to $10.50 and gave the company a “buy” rating in a research note on Wednesday, May 13th. TD Cowen set a $11.00 target price on Allot in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised Allot from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Five research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

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.