Mackenzie Financial Corp Cuts Stock Position in A10 Networks, Inc. (NYSE:ATEN)

Key Points

• Mackenzie Financial Corp reduced its holdings in A10 Networks by 13.5% in the first quarter, owning 134,265 shares valued at approximately $2.19 million after selling 21,009 shares.
• A10 Networks reported earnings per share of $0.20 for the last quarter, exceeding analysts' expectations, with revenues increasing by 8.9% year-over-year.
• The company has a consensus rating of "Moderate Buy" from analysts, with a target price of $22.00, indicating potential growth outlook for the stock.

Mackenzie Financial Corp cut its position in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 13.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 134,265 shares of the communications equipment provider's stock after selling 21,009 shares during the quarter. Mackenzie Financial Corp owned about 0.18% of A10 Networks worth $2,194,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in A10 Networks during the fourth quarter worth about $50,000. CWM LLC grew its position in A10 Networks by 45.6% during the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock worth $76,000 after buying an additional 1,454 shares in the last quarter. Freestone Grove Partners LP purchased a new position in A10 Networks during the fourth quarter worth about $197,000. iSAM Funds UK Ltd purchased a new position in A10 Networks during the fourth quarter worth about $206,000. Finally, Polymer Capital Management US LLC purchased a new position in A10 Networks during the fourth quarter worth about $210,000. 98.61% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other A10 Networks news, General Counsel Robert Scott Weber sold 2,500 shares of the company's stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the transaction, the general counsel owned 61,007 shares of the company's stock, valued at $1,052,980.82. This represents a 3.94% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.15% of the stock is owned by insiders.

A10 Networks Trading Down 2.0%

ATEN traded down $0.36 during midday trading on Tuesday, reaching $17.81. 750,510 shares of the company's stock traded hands, compared to its average volume of 867,602. The firm has a fifty day moving average of $18.44 and a two-hundred day moving average of $18.19. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 26.58, a P/E/G ratio of 4.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.05 and a quick ratio of 3.87. A10 Networks, Inc. has a 52 week low of $12.27 and a 52 week high of $21.90.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. BWS Financial restated a "buy" rating and set a $24.00 target price on shares of A10 Networks in a research report on Friday, May 2nd. Weiss Ratings reiterated a "hold (c)" rating on shares of A10 Networks in a report on Saturday. Wall Street Zen cut A10 Networks from a "buy" rating to a "hold" rating in a report on Saturday. Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 2nd. Finally, Mizuho began coverage on A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating for the company. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

A10 Networks 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.