Allot Ltd. $ALLT Shares Purchased by ARK Investment Management LLC

Key Points

• ARK Investment Management LLC increased its stake in Allot Ltd. by 12.1%, owning 278,560 shares worth approximately $2.36 million after acquiring an additional 30,070 shares in the second quarter.
• Allot's shares experienced a 2.7% decline, with the stock price opening at $9.43 and having a 52-week range between $3.35 and $11.42.
• The company reported a revenue of $24.05 million in the last quarter, surpassing analysts' expectations, while its average rating from analysts is currently a "Hold" with a consensus price target of $13.00.

ARK Investment Management LLC boosted its stake in Allot Ltd. (NASDAQ:ALLT - Free Report) by 12.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 278,560 shares of the communications equipment provider's stock after acquiring an additional 30,070 shares during the period. ARK Investment Management LLC owned 0.60% of Allot worth $2,357,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. FNY Investment Advisers LLC raised its holdings in Allot by 33.3% in the second quarter. FNY Investment Advisers LLC now owns 14,000 shares of the communications equipment provider's stock valued at $119,000 after acquiring an additional 3,500 shares in the last quarter. DCF Advisers LLC bought a new stake in Allot during the first quarter valued at $138,000. Cloud Capital Management LLC bought a new stake in Allot during the first quarter valued at $452,000. US Bancorp DE increased its stake in Allot by 17.6% during the second quarter. US Bancorp DE now owns 67,835 shares of the communications equipment provider's stock valued at $580,000 after purchasing an additional 10,139 shares during the last quarter. Finally, Silverberg Bernstein Capital Management LLC increased its stake in Allot by 38.1% during the second quarter. Silverberg Bernstein Capital Management LLC now owns 146,172 shares of the communications equipment provider's stock valued at $1,250,000 after purchasing an additional 40,300 shares during the last quarter. 51.50% of the stock is owned by institutional investors and hedge funds.

Allot Stock Down 2.7%

Shares of ALLT opened at $9.43 on Thursday. The firm has a 50-day moving average price of $9.19 and a 200 day moving average price of $8.14. The firm has a market capitalization of $438.78 million, a PE ratio of -188.60 and a beta of 1.45. Allot Ltd. has a 52-week low of $3.35 and a 52-week high of $11.42.

Allot (NASDAQ:ALLT - Get Free Report) last issued its quarterly earnings results on Thursday, August 14th. The communications equipment provider reported ($0.01) earnings per share for the quarter, beating analysts' consensus estimates of ($0.02) by $0.01. Allot had a negative net margin of 2.12% and a positive return on equity of 0.94%. The company had revenue of $24.05 million during the quarter, compared to the consensus estimate of $22.90 million. On average, equities analysts expect that Allot Ltd. will post -0.18 EPS for the current year.

Wall Street Analyst Weigh In

ALLT has been the subject of several recent research reports. Zacks Research lowered shares of Allot from a "strong-buy" rating to a "hold" rating in a research note on Thursday, September 25th. Wall Street Zen lowered shares of Allot from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 24th. Weiss Ratings restated a "sell (d-)" rating on shares of Allot in a research report on Wednesday, October 8th. William Blair began coverage on shares of Allot in a research report on Thursday, August 21st. They set an "outperform" rating for the company. Finally, TD Cowen began coverage on shares of Allot in a research report on Monday. They set a "buy" rating and a $13.00 price target for the company. Three equities research 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. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $13.00.

Allot Profile

Allot Communications Ltd. is a provider of leading innovative network intelligence and security solutions for service providers worldwide, enhancing value to their customers. Their solutions are deployed globally for network and application analytics, traffic control and shaping, network-based security services, and more.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.