Healthcare of Ontario Pension Plan Trust Fund Acquires 34,551 Shares of A10 Networks, Inc. $ATEN

Key Points

• Healthcare of Ontario Pension Plan Trust Fund increased its A10 Networks stake by 53.7% in the first quarter, adding 34,551 shares and bringing its holdings to 98,907 shares worth about $2.29 million.
• Institutional investors own approximately 98.61% of A10 Networks, with several funds—including Arrowstreet Capital and Walleye Capital—also increasing or initiating positions.
• A10 Networks exceeded quarterly earnings and revenue expectations, reporting $0.24 in EPS and $75 million in revenue. Despite analyst price-target increases, the consensus rating remains “Hold”, while a company director sold 24,698 shares.

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 53.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 98,907 shares of the communications equipment provider's stock after purchasing an additional 34,551 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.14% of A10 Networks worth $2,287,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ATEN. Arrowstreet Capital Limited Partnership grew its position in shares of A10 Networks by 36.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,497,144 shares of the communications equipment provider's stock valued at $34,614,000 after acquiring an additional 401,857 shares during the period. Inceptionr LLC bought a new stake in shares of A10 Networks in the 1st quarter worth approximately $382,000. Walleye Capital LLC purchased a new position in A10 Networks in the first quarter valued at approximately $115,600,000. State of Wyoming bought a new position in A10 Networks during the first quarter valued at $180,000. Finally, PNC Financial Services Group Inc. grew its holdings in A10 Networks by 14.1% during 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 purchasing an additional 488 shares during the period. 98.61% of the stock is currently owned by institutional investors.

A10 Networks Price Performance

A10 Networks stock opened at $29.54 on Friday. The firm has a market capitalization of $2.13 billion, a P/E ratio of 47.65 and a beta of 1.14. A10 Networks, Inc. has a one year low of $16.52 and a one 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 business has a fifty day moving average price of $33.65 and a 200-day moving average price of $26.36.

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

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. BWS Financial raised their target price on A10 Networks from $30.00 to $45.00 and gave the stock a "buy" rating in a research report on Tuesday, June 16th. Weiss Ratings raised A10 Networks from a "hold (c)" rating to a "hold (c+)" rating in a research report on Wednesday, June 24th. Wall Street Zen downgraded A10 Networks from a "buy" rating to a "hold" rating in a research note on Saturday, June 20th. BTIG Research lifted their price objective on A10 Networks from $30.00 to $37.00 and gave the stock a "buy" rating in a report on Thursday, June 18th. Finally, Zacks Research downgraded shares of A10 Networks from a "strong-buy" rating to a "hold" rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $31.29.

Insider Buying and Selling at A10 Networks

In other news, Director Eric Singer sold 24,698 shares of the stock in a transaction dated Tuesday, May 5th. The shares were sold at an average price of $27.21, for a total value of $672,032.58. Following the sale, the director directly owned 68,806 shares of the company's stock, valued at approximately $1,872,211.26. This represents a 26.41% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.21% of the stock is currently owned by corporate insiders.

A10 Networks 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.

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