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

Key Points

• Allot CEO Eyal David Harari sold 28,923 shares for about $258,000 at an average price of $8.92, reducing his direct holdings by 2.63% to 1,070,195 shares.
• Allot shares fell 2.7% to $8.70 in Tuesday midday trading. The company’s latest reported quarterly earnings of $0.09 per share topped the $0.06 analyst consensus, with revenue also slightly above estimates.
• Analysts’ consensus rating is Moderate Buy, with an average price target of $13.38; institutional investors and hedge funds own 51.5% of the stock.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) CEO Eyal Harari sold 28,923 shares of the company's stock in a transaction dated 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 directly owned 1,070,195 shares in the company, valued at $9,546,139.40. This represents a 2.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Allot Stock Down 2.7%

ALLT stock traded down $0.24 during midday trading on Tuesday, reaching $8.70. 18,763 shares of the company's stock traded hands, compared to its average volume of 430,249. The company has a 50-day simple moving average of $8.39 and a two-hundred day simple moving average of $7.99. The company has a market cap of $428.91 million, a price-to-earnings ratio of 39.54 and a beta of 1.51. Allot Ltd. has a 1-year low of $6.12 and a 1-year high of $11.92.

Allot (NASDAQ:ALLT - Get Free Report) last announced its earnings results on Thursday, August 13th. The communications equipment provider reported $0.09 earnings per share for the quarter, beating analysts' consensus estimates of $0.06 by $0.03. The company had revenue of $27.74 million during the quarter, compared to analyst estimates of $27.45 million. Allot had a return on equity of 9.64% and a net margin of 9.40%. Equities research analysts forecast that Allot Ltd. will post 0.23 EPS for the current year.

Institutional Investors Weigh In On Allot

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Squarepoint Ops LLC raised its stake 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 in the last quarter. R Squared Ltd bought a new stake in Allot in the 3rd quarter valued at $146,000. Eurizon Capital SGR S.p.A. bought a new stake in shares of Allot in the third quarter valued at about $247,000. Hennion & Walsh Asset Management Inc. grew its position 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. Finally, Lazard Asset Management LLC acquired a new stake in Allot during the first quarter worth approximately $1,208,000. 51.50% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ALLT shares. Northland Securities set a $17.00 price objective on shares of Allot in a research note on Thursday, August 13th. Weiss Ratings reissued a "sell (d+)" rating on shares of Allot in a research note on Tuesday, September 22nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Allot currently has an average rating of "Moderate Buy" and a consensus target price of $13.38.

About Allot

Allot Ltd. is an Israeli technology company that develops network intelligence and security solutions for communications service providers. Its software and hardware are designed to help telecommunications operators monitor network traffic, manage bandwidth, improve service quality and protect infrastructure from cyber threats.

The company's offerings have included network visibility and analytics tools, traffic management platforms, distributed denial-of-service protection, and security services for mobile, fixed-line and broadband networks.

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