Renaissance Technologies LLC Reduces Position in A10 Networks, Inc. $ATEN

Renaissance Technologies LLC trimmed its position in A10 Networks, Inc. (NYSE:ATEN) by 16.4% during the first quarter, Holdings Channel.com reports. The firm owned 1,784,987 shares of the communications equipment provider’s stock after selling 349,747 shares during the period. Renaissance Technologies LLC’s holdings in A10 Networks were worth $41,269,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. PNC Financial Services Group Inc. increased its holdings in A10 Networks by 14.1% in the first quarter. PNC Financial Services Group Inc. now owns 3,938 shares of the communications equipment provider’s stock valued at $91,000 after buying an additional 488 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in A10 Networks by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,438 shares of the communications equipment provider’s stock worth $705,000 after buying an additional 737 shares during the last quarter. Gamco Investors INC. ET AL lifted its holdings in A10 Networks by 1.8% during the 4th quarter. Gamco Investors INC. ET AL now owns 42,750 shares of the communications equipment provider’s stock worth $756,000 after buying an additional 750 shares during the last quarter. WINTON GROUP Ltd boosted its position in shares of A10 Networks by 1.1% during the 4th quarter. WINTON GROUP Ltd now owns 71,527 shares of the communications equipment provider’s stock worth $1,265,000 after acquiring an additional 761 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of A10 Networks by 0.6% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 137,148 shares of the communications equipment provider’s stock worth $2,426,000 after acquiring an additional 861 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

A10 Networks Stock Down 2.4%

Shares of NYSE:ATEN opened at $33.45 on Tuesday. A10 Networks, Inc. has a 1-year low of $16.52 and a 1-year high of $38.49. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.71 and a quick ratio of 3.56. The stock has a market cap of $2.41 billion, a P/E ratio of 53.96 and a beta of 1.14. The firm has a fifty day moving average price of $33.55 and a 200 day moving average price of $26.07.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Tuesday, April 28th. The communications equipment provider reported $0.24 EPS for the quarter, beating analysts’ consensus estimates of $0.22 by $0.02. A10 Networks had a net margin of 14.90% and a return on equity of 25.00%. The company had revenue of $75.00 million for the quarter, compared to analyst estimates of $72.61 million. During the same period in the previous year, the business posted $0.20 earnings per share. A10 Networks’s quarterly revenue was up 13.4% on a year-over-year basis. Sell-side analysts predict that A10 Networks, Inc. will post 0.83 EPS for the current year.

Analysts Set New Price Targets

ATEN has been the topic of a number of recent analyst reports. Zacks Research downgraded A10 Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. BWS Financial upped their price target on A10 Networks from $30.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, June 16th. Sidoti reiterated a “neutral” rating and issued a $24.00 price target on shares of A10 Networks in a research note on Monday, April 20th. Wall Street Zen lowered shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. Finally, BTIG Research raised their price objective on shares of A10 Networks from $30.00 to $37.00 and gave the stock a “buy” rating in a report on Thursday, June 18th. Two analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $31.29.

Insider Buying and Selling at A10 Networks

In related news, Director Eric Singer sold 24,698 shares of the firm’s stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $27.21, for a total transaction of $672,032.58. Following the transaction, the director owned 68,806 shares of the company’s stock, valued at $1,872,211.26. This trade represents a 26.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 1.21% of the company’s stock.

A10 Networks Company Profile

A10 Networks, Inc (NYSE: ATEN), headquartered in San Jose, California, designs and sells networking and security solutions that accelerate application performance and protect data across on-premises, cloud and hybrid environments. Founded in 2004, the company’s offerings target enterprises, service providers and cloud operators seeking high availability, secure access and optimized traffic delivery for critical applications.

The company’s core portfolio includes application delivery controllers (ADCs) for load balancing and traffic management, advanced distributed denial-of-service (DDoS) protection appliances, SSL inspection solutions and carrier-grade NAT (CGNAT) platforms.