Connor Clark & Lunn Investment Management Ltd. Sells 133,887 Shares of A10 Networks, Inc. $ATEN

Connor Clark & Lunn Investment Management Ltd. trimmed its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 38.7% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 211,936 shares of the communications equipment provider's stock after selling 133,887 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.29% of A10 Networks worth $3,463,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ATEN. Vanguard Group Inc. boosted its stake in shares of A10 Networks by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 7,394,304 shares of the communications equipment provider's stock worth $120,823,000 after acquiring an additional 34,634 shares during the period. Penserra Capital Management LLC boosted its stake in shares of A10 Networks by 29.9% during the 1st quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock worth $41,490,000 after acquiring an additional 584,116 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of A10 Networks by 11.2% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,479,989 shares of the communications equipment provider's stock worth $45,632,000 after acquiring an additional 249,145 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of A10 Networks by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 1,820,512 shares of the communications equipment provider's stock worth $33,498,000 after acquiring an additional 31,697 shares during the period. Finally, Geode Capital Management LLC boosted its stake in shares of A10 Networks by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 1,677,206 shares of the communications equipment provider's stock worth $30,868,000 after acquiring an additional 14,764 shares during the period. 98.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ATEN shares. Wall Street Zen upgraded A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. BWS Financial reissued a "buy" rating and set a $24.00 price target on shares of A10 Networks in a report on Friday, May 2nd. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target for the company in a report on Wednesday, August 6th. Raymond James Financial initiated coverage on A10 Networks in a report on Wednesday, April 23rd. They set a "market perform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on A10 Networks in a report on Friday, June 27th. They set a "buy" rating and a $22.00 price target for the company. Two investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Insider Buying and Selling at A10 Networks

In other news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value of $43,150.00. Following the transaction, the general counsel owned 61,007 shares in the company, valued at approximately $1,052,980.82. This trade represents a 3.94% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian Becker sold 6,400 shares of A10 Networks stock in a transaction on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total value of $115,392.00. Following the completion of the transaction, the chief financial officer owned 77,599 shares in the company, valued at approximately $1,399,109.97. The trade was a 7.62% decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.15% of the company's stock.

A10 Networks Price Performance

NYSE ATEN traded down $0.06 during midday trading on Monday, hitting $17.13. The company had a trading volume of 136,838 shares, compared to its average volume of 966,679. The company has a market capitalization of $1.24 billion, a PE ratio of 25.18 and a beta of 1.35. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. The firm has a 50-day moving average price of $18.46 and a 200-day moving average price of $18.10. A10 Networks, Inc. has a twelve month low of $12.72 and a twelve month high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%. The company had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. During the same quarter last year, the company posted $0.18 EPS. The company's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, analysts anticipate that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be paid a $0.06 dividend. The ex-dividend date is Friday, August 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is presently 35.29%.

About A10 Networks

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.