Cathie Wood’s Latest Portfolio: 5 Stocks Under $10

3. Allot Ltd. (NASDAQ:ALLT)

Number of Hedge Fund Holders: 14

Share Price as of May 16: $5.27

Allot Ltd. (NASDAQ:ALLT) provides network intelligence and security solutions. Regulatory filings reveal that ARK owned 252,341 shares of Allot Ltd. (NASDAQ:ALLT) at the end of the first quarter of 2022, worth $2 million. The fund increased its stake in the firm by 23% in the first three months of 2022 compared to filings for the fourth quarter of 2021. The firm has been a consistent feature in the ARK portfolio since the second quarter of 2019. Over the last three quarters, ARK has been loading up on the stock. 

In mid-February, Lake Street analyst Eric Martinuzzi maintained a Buy rating on Allot Ltd. (NASDAQ:ALLT) stock but lowered the price target to $13 from $16, lowering the profit and revenue forecasts for the firm in 2022 as well. 

Among the hedge funds being tracked by Insider Monkey, New York-based investment firm Renaissance Technologies is a leading shareholder in Allot Ltd. (NASDAQ:ALLT), with 1.2 million shares worth more than $10 million.