Greenhaven Road Investment Management L.P. Boosts Stock Position in Allot Ltd. $ALLT
Greenhaven Road Investment Management L.P. increased its stake in Allot Ltd. by 272% in Q2, owning 1.35% of the company. Analysts have mixed ratings, with a consensus target price of $12.75. Allot's stock opened at $9.44, with a market cap of $457.37 million. Institutional investors own 51.50% of the stock.
Greenhaven Road Investment Management L.P. raised its holdings in shares of Allot Ltd. (NASDAQ:ALLT - Free Report) by 272.0% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 626,024 shares of the communications equipment provider's stock after acquiring an additional 457,726 shares during the quarter. Allot makes up 1.8% of Greenhaven Road Investment Management L.P.'s investment portfolio, making the stock its 13th biggest holding. Greenhaven Road Investment Management L.P. owned about 1.35% of Allot worth $5,353,000 as of its most recent SEC filing.
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A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Kanen Wealth Management LLC grew its stake in Allot by 19.6% during the 2nd quarter. Kanen Wealth Management LLC now owns 4,527,823 shares of the communications equipment provider's stock worth $38,713,000 after buying an additional 742,146 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in shares of Allot in the 2nd quarter valued at $2,225,000. HBK Investments L P purchased a new stake in Allot in the 2nd quarter valued at $1,069,000. Acadian Asset Management LLC boosted its stake in Allot by 12.5% during the 2nd quarter. Acadian Asset Management LLC now owns 778,254 shares of the communications equipment provider's stock worth $6,648,000 after purchasing an additional 86,437 shares during the period. Finally, Acuitas Investments LLC purchased a new position in Allot during the 2nd quarter worth $558,000. 51.50% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on ALLT shares. Needham & Company LLC reaffirmed a "buy" rating and issued a $12.50 target price on shares of Allot in a report on Friday, November 21st. William Blair began coverage on Allot in a research note on Thursday, August 21st. They set an "outperform" rating for the company. Zacks Research raised Allot from a "hold" rating to a "strong-buy" rating in a report on Tuesday, November 25th. Wall Street Zen downgraded Allot from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Allot in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.75.
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View Our Latest Stock Report on ALLT
Allot Stock Performance
Shares of NASDAQ ALLT opened at $9.44 on Friday. Allot Ltd. has a one year low of $4.37 and a one year high of $11.42. The firm has a market capitalization of $457.37 million, a P/E ratio of 314.67 and a beta of 1.53. The company's fifty day moving average is $9.67 and its two-hundred day moving average is $8.86.
Allot Company Profile
(Free Report)- 4 Golden Crosses With Double-Digit Upside Ahead
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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