Investing

Shareholder Lynrock Lake Raises Allot Stake, Nominates Founder Cynthia Paul For Board Seat

Fintel reports that Lynrock Lake LP has filed a 13D/A form with the SEC disclosing ownership of 8,768,666 Allot Communications, Ltd. (US:ALLT, IL:ALLT) shares. This represents 23.97% of the company.

In their previous filing dated Sept. 15, 2022, they reported 8,736,585 shares and 23.88% of the company, an increase in shares of 0.37% and an increase in total ownership of 0.09% (calculated as current – previous percent ownership).

In its 13D filing, the company said, “On September 22, 2022, a member of Allot’s board of directors introduced Lynrock founder Cynthia Paul to the chairperson of the company’s Compensation and Nominating Committee. Ms. Paul met with the Committee Chairperson on September 30, 2022, and the two parties discussed business strategy and board composition.

During October 2022, Allot representatives engaged in periodic discussions with Ms. Paul regarding the possibility of joining the board. On November 14, 2022, the board extended an invitation to Ms. Paul to join the board, and Ms. Paul consented to serve if elected. Ms. Paul’s nomination is subject to shareholder approval at the upcoming annual meeting.”

Allot Ltd. is a provider of leading innovative network intelligence and security solutions for service providers and enterprises worldwide, enhancing customer value.

Allot’s multi-service platforms are deployed by over 500 mobile, fixed and cloud service providers and over 1000 enterprises.

What are other large shareholders doing?

Lynrock Lake LP holds 8,768,666 shares representing 23.97% ownership of the company. In its prior filing, the firm reported owning 8,395,023 shares, representing an increase of 4.26%. The firm decreased its portfolio allocation in ALLT by 23.69% over the last quarter.

VIEX Capital Advisors, LLC holds 2,347,017 shares representing 6.41% ownership. The firm reported owning 1,989,678 shares in its prior filing, representing an increase of 15.23%. The firm increased its portfolio allocation in ALLT by 15.67% over the last quarter.

Clal Insurance Enterprises Holdings Ltd holds 2,327,853 shares representing 6.36% ownership. No change in the last quarter.

QVT Financial LP holds 1,757,225 shares representing 4.80% ownership of the company. In its prior filing, the firm reported owning 1,317,225 shares, representing an increase of 25.04%. The firm increased its portfolio allocation in ALLT by 18.44% over the last quarter.

Phoenix Holdings Ltd. holds 1,350,049 shares representing 3.69% ownership of the company. In its prior filing, the firm reported owning 1,200,049 shares, representing an increase of 11.11%. The firm decreased its portfolio allocation in ALLT by 44.09% over the last quarter.

What is the overall institutional sentiment?

There are 92 funds or institutions reporting positions in Allot Communications, Ltd. This is a decrease of 9 owner(s) or 8.91%.

Average portfolio weight of all funds dedicated to Allot Communications, Ltd. is 0.4811%, an increase of 53.3660%. Total shares owned by institutions increased in the last three months by 10.63% to 29,060,865 shares.

This article originally appeared on Fintel

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