Cubist Systematic Strategies LLC Purchases 90,640 Shares of A10 Networks, Inc. $ATEN

Key Points

• Cubist Systematic Strategies LLC significantly increased its stake in A10 Networks by 696.5%, owning 103,654 shares valued at $1.69 million after purchasing 90,640 shares in the first quarter.
• Other institutional investors, including the Royal Bank of Canada and Canada Pension Plan Investment Board, also raised or initiated positions in A10 Networks, which is now comprised of 98.61% institutional ownership.
• A10 Networks recently reported quarterly earnings beating estimates with a net margin of 18.45% and a projected annual EPS of 0.69 for 2023.

Cubist Systematic Strategies LLC lifted its position in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 696.5% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,654 shares of the communications equipment provider's stock after purchasing an additional 90,640 shares during the quarter. Cubist Systematic Strategies LLC owned 0.14% of A10 Networks worth $1,694,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of ATEN. Boston Trust Walden Corp acquired a new position in shares of A10 Networks in the first quarter valued at $26,894,000. Wellington Management Group LLP raised its stake in shares of A10 Networks by 390.9% in the first quarter. Wellington Management Group LLP now owns 1,130,119 shares of the communications equipment provider's stock valued at $18,466,000 after purchasing an additional 899,919 shares in the last quarter. Invesco Ltd. raised its stake in shares of A10 Networks by 184.7% in the first quarter. Invesco Ltd. now owns 1,045,406 shares of the communications equipment provider's stock valued at $17,082,000 after purchasing an additional 678,207 shares in the last quarter. Penserra Capital Management LLC raised its stake in shares of A10 Networks by 29.9% in the first quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock valued at $41,490,000 after purchasing an additional 584,116 shares in the last quarter. Finally, Aptus Capital Advisors LLC acquired a new position in shares of A10 Networks in the first quarter valued at $4,819,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ATEN shares. Mizuho started coverage on A10 Networks in a research note on Monday, July 14th. They set a "neutral" rating for the company. Wall Street Zen upgraded A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. BTIG Research upgraded A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research note on Wednesday, August 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a research note on Wednesday, September 3rd. Finally, Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a research note on Friday, June 27th. They set a "buy" rating and a $22.00 price objective for the company. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Insider Activity at A10 Networks

In other news, CFO Brian Becker sold 6,400 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total transaction of $115,392.00. Following the sale, the chief financial officer owned 77,599 shares in the company, valued at approximately $1,399,109.97. This represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.15% of the company's stock.

A10 Networks Price Performance

Shares of ATEN stock traded down $0.44 during trading hours on Friday, hitting $17.43. 499,322 shares of the company's stock were exchanged, compared to its average volume of 599,879. The stock's 50-day moving average is $17.99 and its 200-day moving average is $17.68. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 25.64 and a beta of 1.37. A10 Networks, Inc. has a 52 week low of $13.30 and a 52 week high of $21.90.

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

A10 Networks Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Friday, August 15th. A10 Networks's dividend payout ratio is presently 35.29%.

A10 Networks Company Profile

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.