Insider Selling: Allot (NASDAQ:ALLT) Insider Sells 26,666 Shares of Stock

Key Points

• Insider sale: Allot insider Gili Groner sold 26,666 shares at an average price of $7.86, receiving approximately $209,595. The transaction reduced the insider’s holdings by 30.96% and was conducted under a pre-arranged Rule 10b5-1 plan.
• Company performance and buyback: Allot reported quarterly earnings of $0.09 per share, beating estimates of $0.06, while revenue of $27.74 million slightly exceeded expectations. The board also authorized a $40 million share repurchase program covering up to 11.7% of outstanding shares.
• Analyst sentiment: Allot has a “Moderate Buy” consensus rating from analysts, with a consensus price target of $13.38 versus a share price near $7.87. Institutional investors own approximately 51.5% of the company.

Allot Ltd. (NASDAQ:ALLT - Get Free Report) insider Gili Groner sold 26,666 shares of the company's stock in a transaction that occurred on Tuesday, August 18th. The stock was sold at an average price of $7.86, for a total transaction of $209,594.76. Following the transaction, the insider directly owned 59,467 shares of the company's stock, valued at $467,410.62. This trade represents a 30.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Allot Stock Up 2.5%

Shares of ALLT opened at $7.87 on Wednesday. The firm has a market cap of $382.88 million, a PE ratio of 35.77 and a beta of 1.48. The company's fifty day moving average is $7.86 and its two-hundred day moving average is $7.78. Allot Ltd. has a fifty-two week low of $6.12 and a fifty-two week high of $11.92.

Allot (NASDAQ:ALLT - Get Free Report) last released its quarterly earnings data on Wednesday, August 12th. The communications equipment provider reported $0.09 EPS for the quarter, topping analysts' consensus estimates of $0.06 by $0.03. The business had revenue of $27.74 million during the quarter, compared to the consensus estimate of $27.45 million. Allot had a return on equity of 9.64% and a net margin of 9.40%. As a group, equities research analysts anticipate that Allot Ltd. will post 0.24 earnings per share for the current year.

Allot announced that its board has initiated a share buyback plan on Tuesday, June 23rd that permits the company to buyback $40.00 million in shares. This buyback authorization permits the communications equipment provider to reacquire up to 11.7% of its shares through open market purchases. Shares buyback plans are usually an indication that the company's management believes its shares are undervalued.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ALLT. Cantor Fitzgerald restated an "overweight" rating and issued a $15.00 price objective on shares of Allot in a report on Wednesday, May 13th. Wall Street Zen raised shares of Allot from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. Needham & Company LLC raised their price target on shares of Allot from $8.50 to $10.50 and gave the company a "buy" rating in a report on Wednesday, May 13th. Weiss Ratings reiterated a "sell (d+)" rating on shares of Allot in a research note on Friday, June 26th. Finally, Northland Securities set a $17.00 target price on shares of Allot in a research note on Thursday, August 13th. Five investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $13.38.

Institutional Investors Weigh In On Allot

A number of large investors have recently modified their holdings of ALLT. Quarry LP acquired a new position in Allot during the 3rd quarter worth approximately $37,000. Kestra Advisory Services LLC acquired a new position in shares of Allot during the fourth quarter worth $62,000. State of Wyoming acquired a new position in shares of Allot during the fourth quarter worth $66,000. Wells Fargo & Company MN boosted its stake in shares of Allot by 200.0% in the fourth quarter. Wells Fargo & Company MN now owns 9,000 shares of the communications equipment provider's stock valued at $88,000 after purchasing an additional 6,000 shares during the period. Finally, Invesco Ltd. purchased a new position in shares of Allot in the fourth quarter valued at $112,000. Institutional investors and hedge funds own 51.50% of the company's stock.

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.

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