Insider Selling: Allot (NASDAQ:ALLT) CEO Sells $222,408.04 in Stock

Key Points

• Allot CEO Eyal David Harari sold 29,111 shares at an average price of $7.64, generating $222,408.04. He retains 1,099,118 shares, a 2.58% reduction in his ownership.
• Allot’s stock opened at $7.82, with a market capitalization of approximately $380.4 million and a 52-week range of $6.12 to $11.92. The company recently reported quarterly EPS of $0.06 on $26.43 million in revenue.
• The board authorized a $40 million share-repurchase program, while analysts maintain a consensus “Moderate Buy” rating and an average price target of $13.62.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) CEO Eyal David Harari sold 29,111 shares of the business's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $7.64, for a total value of $222,408.04. Following the completion of the sale, the chief executive officer owned 1,099,118 shares in the company, valued at approximately $8,397,261.52. The trade was a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Allot Stock Performance

NASDAQ:ALLT opened at $7.82 on Monday. 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 $380.44 million, a price-to-earnings ratio of 60.16 and a beta of 1.48. The stock has a fifty day moving average of $7.86 and a 200 day moving average of $7.92.

Allot (NASDAQ:ALLT - Get Free Report) last released its earnings results on Tuesday, March 31st. The communications equipment provider reported $0.06 EPS for the quarter. Allot had a net margin of 5.68% and a return on equity of 7.38%. The company had revenue of $26.43 million for the quarter. Equities analysts forecast that Allot Ltd. will post 0.21 earnings per share for the current fiscal year.

Allot declared that its Board of Directors has authorized a share repurchase program on Tuesday, June 23rd that permits the company to repurchase $40.00 million in shares. This repurchase authorization permits the communications equipment provider to repurchase up to 11.7% of its stock through open market purchases. Stock repurchase programs are often an indication that the company's leadership believes its shares are undervalued.

Institutional Trading of Allot

A number of hedge funds have recently added to or reduced their stakes in the business. QVT Financial LP raised its stake in Allot by 22.2% in the second quarter. QVT Financial LP now owns 4,505,793 shares of the communications equipment provider's stock worth $36,598,000 after buying an additional 817,938 shares in the last quarter. Millennium Management LLC lifted its position in shares of Allot by 239.4% during the third quarter. Millennium Management LLC now owns 753,393 shares of the communications equipment provider's stock valued at $7,971,000 after buying an additional 531,412 shares during the last quarter. Sei Investments Co. boosted its holdings in shares of Allot by 744.0% in the 1st quarter. Sei Investments Co. now owns 523,162 shares of the communications equipment provider's stock valued at $3,484,000 after buying an additional 461,175 shares in the last quarter. Boothbay Fund Management LLC purchased a new stake in Allot during the second quarter valued at approximately $3,164,000. Finally, Potomac Capital Management Inc. acquired a new position in shares of Allot during the fourth quarter worth $3,483,000. 51.50% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALLT. Cantor Fitzgerald reissued an "overweight" rating and issued a $15.00 price objective on shares of Allot in a research note on Wednesday, May 13th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Allot in a research report on Friday, June 26th. Wall Street Zen raised Allot from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Finally, Needham & Company LLC increased their target price on shares of Allot from $8.50 to $10.50 and gave the company a "buy" rating in a research note on Wednesday, May 13th. Five investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $13.62.

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.

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