A10 Networks Inc (ATEN) Holdings Lifted by Trexquant Investment LP
Trexquant Investment LP raised its holdings in A10 Networks Inc (NYSE:ATEN) by 112.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 37,739 shares of the communications equipment provider’s stock after acquiring an additional 19,939 shares during the period. Trexquant Investment LP owned about 0.05% of A10 Networks worth $285,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in A10 Networks by 35.9% in the third quarter. JPMorgan Chase & Co. now owns 180,354 shares of the communications equipment provider’s stock valued at $1,200,000 after acquiring an additional 47,691 shares during the last quarter. Dynamic Technology Lab Private Ltd grew its holdings in shares of A10 Networks by 319.2% during the third quarter. Dynamic Technology Lab Private Ltd now owns 73,791 shares of the communications equipment provider’s stock worth $558,000 after purchasing an additional 56,187 shares during the last quarter. Paradigm Capital Management Inc. NY grew its holdings in shares of A10 Networks by 20.1% during the third quarter. Paradigm Capital Management Inc. NY now owns 243,400 shares of the communications equipment provider’s stock worth $1,840,000 after purchasing an additional 40,770 shares during the last quarter. Stoneridge Investment Partners LLC bought a new stake in shares of A10 Networks during the third quarter worth about $109,000. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of A10 Networks by 11.3% during the second quarter. The Manufacturers Life Insurance Company now owns 40,264 shares of the communications equipment provider’s stock worth $340,000 after purchasing an additional 4,083 shares during the last quarter. Hedge funds and other institutional investors own 57.96% of the company’s stock.
In related news, CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 26th. The stock was sold at an average price of $6.57, for a total value of $164,250.00. Following the sale, the chief executive officer now directly owns 10,336,538 shares in the company, valued at $67,911,054.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Neil Wu Becker sold 5,155 shares of the company’s stock in a transaction that occurred on Thursday, September 14th. The shares were sold at an average price of $6.74, for a total value of $34,744.70. Following the completion of the sale, the vice president now owns 118,946 shares in the company, valued at $801,696.04. The disclosure for this sale can be found here. Insiders sold 387,793 shares of company stock worth $2,869,993 over the last quarter. 31.57% of the stock is currently owned by company insiders.
Several analysts have recently weighed in on ATEN shares. Zacks Investment Research upgraded A10 Networks from a “strong sell” rating to a “hold” rating and set a $8.50 price target on the stock in a report on Tuesday, October 17th. BidaskClub upgraded A10 Networks from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company. A10 Networks currently has a consensus rating of “Hold” and a consensus price target of $9.13.
Shares of A10 Networks Inc (ATEN) opened at $7.70 on Thursday. A10 Networks Inc has a twelve month low of $6.02 and a twelve month high of $9.94.
A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Thursday, October 26th. The communications equipment provider reported $0.03 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.04. The company had revenue of $61.40 million for the quarter, compared to analysts’ expectations of $59.46 million. A10 Networks had a negative return on equity of 17.63% and a negative net margin of 6.94%. A10 Networks’s revenue for the quarter was up 11.4% on a year-over-year basis. research analysts anticipate that A10 Networks Inc will post -0.21 EPS for the current year.
A10 Networks announced that its Board of Directors has approved a stock buyback plan on Thursday, October 26th that authorizes the company to repurchase 20,000,000 outstanding shares. This repurchase authorization authorizes the communications equipment provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.
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A10 Networks Profile
A10 Networks, Inc is a provider of software and hardware solutions. The Company’s solutions enable its customers to secure and optimize the performance of their data center and cloud applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
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