Billionaire George Soros‘ Soros Fund Management recently filed a Form 13G with the Securities and Exchange Commission, in which it disclosed holding 2.21 million Ordinary Shares of Allot Communications Ltd (NASDAQ:ALLT), which amass 6.61% of the company’s outstanding shares. This represents a substantial increase to the family office’s stake in the company, as it previously held 1.39 million Ordinary Shares, as per its 13F filing for the reporting period of June 30.
Allot Communications is a company that provides fixed, mobile and enterprise network solutions for broadband traffic. Recently, the company has partnered with Intel Security to present McAfee Unified Security Powered by Allot, an end-to-end security solution. Over the past 12 months, the company’s stock has lost 4.1%. Earlier this month, Bank of America Corp. set a price target of $5.00 on Allot Communications’ stock and has a ‘Sell’ rating on it. Shares of the company currently trade at $5.15 per share. For the second quarter of 2016, the company disclosed a loss per share of $0.40 and revenue of $22.96 million, compared to a loss per share of $0.18 and revenue of $21.60 million for the same period a year earlier.
Investors in our database long Allot Communications (NASDAQ:ALLT) at the end of the second quarter included Peter A. Wright’s P.A.W. CAPITAL PARTNERS, with a position worth $5.5 million, Jim Simons’ Renaissance Technologies, which held a position valued at $2.8 million, Josh Goldberg’s G2 Investment Partners Management, and Richard Mashaal’s RIMA Senvest Management.
Smart money managers that lost optimism about investing in Allot Communications (NASDAQ:ALLT) and decided to drop their positions during the second quarter, were Anand Parekh’s Alyeska Investment Group, which moved out of its stake worth around $5.32 million, and Brian Ashford-Russell and Tim Woolley’s Polar Capital, which sold off its position that had been valued at $635,000 on March 31.
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You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| SOROS FUND MANAGEMENT | 0 | 2,211,314 | 0 | 2,211,314 | 6.61% | |
| GEORGE SOROS | 2,211,314 | 0 | 2,211,314 | 2,211,314 | 6.61% | |
| ROBERT SOROS | 2,211,314 | 0 | 2,211,314 | 2,211,314 | 6.61% |
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Page 1 of 12 – SEC Filing
| [ ] | Rule 13d-1(b) |
| [X] | Rule 13d-1(c) |
| [ ] | Rule 13d-1(d) |
