Goldman Sachs Group Inc. Decreases Stock Holdings in Allot Ltd. $ALLT

Key Points

• Goldman Sachs Group Inc. reduced its holdings in Allot Ltd. by 85.9%, now owning only 15,232 shares after selling 93,008 shares, with a total value of approximately $87,000.
• Cloud Capital Management LLC entered a new position in Allot in Q1 2023, valued at $452,000, indicating increased institutional interest in the company.
• Allot's recent earnings report showed a surprising earnings per share of ($0.01), exceeding estimates, with reported revenue of $24.05 million, suggesting better than expected financial performance amidst previous challenges.

Goldman Sachs Group Inc. trimmed its position in Allot Ltd. (NASDAQ:ALLT - Free Report) by 85.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,232 shares of the communications equipment provider's stock after selling 93,008 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Allot were worth $87,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Cloud Capital Management LLC bought a new stake in Allot in the first quarter valued at $452,000. Institutional investors own 51.50% of the company's stock.

Allot Price Performance

ALLT opened at $10.58 on Wednesday. The stock has a 50-day moving average price of $8.37 and a 200-day moving average price of $7.68. The firm has a market cap of $492.29 million, a PE ratio of -211.60 and a beta of 1.43. Allot Ltd. has a 1 year low of $2.78 and a 1 year high of $10.77.

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

Wall Street Analysts Forecast Growth

ALLT has been the topic of several recent analyst reports. Wall Street Zen cut shares of Allot from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. Zacks Research cut shares of Allot from a "strong-buy" rating to a "hold" rating in a report on Thursday, September 25th. Finally, William Blair initiated coverage on shares of Allot in a report on Thursday, August 21st. They issued an "outperform" rating on the stock. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

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.

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