First Trust Advisors LP Has $39.76 Million Holdings in A10 Networks, Inc. $ATEN

First Trust Advisors LP lowered its position in A10 Networks, Inc. (NYSE:ATEN) by 30.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,719,817 shares of the communications equipment provider’s stock after selling 743,520 shares during the quarter. First Trust Advisors LP owned approximately 2.39% of A10 Networks worth $39,762,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Hsbc Holdings PLC lifted its stake in A10 Networks by 84.3% in the 4th quarter. Hsbc Holdings PLC now owns 153,816 shares of the communications equipment provider’s stock valued at $2,724,000 after purchasing an additional 70,357 shares during the last quarter. JPMorgan Chase & Co. increased its position in A10 Networks by 18.9% during the third quarter. JPMorgan Chase & Co. now owns 380,161 shares of the communications equipment provider’s stock worth $6,900,000 after buying an additional 60,372 shares during the last quarter. AlphaQuest LLC increased its position in A10 Networks by 967.4% during the fourth quarter. AlphaQuest LLC now owns 162,685 shares of the communications equipment provider’s stock worth $2,878,000 after buying an additional 147,444 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc bought a new stake in A10 Networks in the first quarter valued at approximately $2,283,000. Finally, Louisiana State Employees Retirement System bought a new stake in A10 Networks in the first quarter valued at approximately $733,000. Institutional investors own 98.61% of the company’s stock.

A10 Networks Trading Down 2.4%

Shares of A10 Networks stock opened at $33.45 on Tuesday. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.56 and a current ratio of 3.71. The firm has a 50-day moving average of $33.55 and a 200-day moving average of $26.07. A10 Networks, Inc. has a 52-week low of $16.52 and a 52-week high of $38.49. The stock has a market cap of $2.41 billion, a PE ratio of 53.96 and a beta of 1.14.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Tuesday, April 28th. The communications equipment provider reported $0.24 EPS for the quarter, topping 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 business had revenue of $75.00 million for the quarter, compared to analyst estimates of $72.61 million. During the same period last year, the firm earned $0.20 earnings per share. A10 Networks’s revenue for the quarter was up 13.4% compared to the same quarter last year. As a group, sell-side analysts forecast that A10 Networks, Inc. will post 0.83 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on ATEN shares. Mizuho lifted their target price on A10 Networks from $30.00 to $34.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 15th. BWS Financial increased their price target on A10 Networks from $30.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, June 16th. Weiss Ratings raised A10 Networks from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, June 24th. Piper Sandler set a $45.00 price objective on shares of A10 Networks in a research report on Tuesday, June 16th. Finally, BTIG Research upped their price objective on shares of A10 Networks from $30.00 to $37.00 and gave the company a “buy” rating in a report on Thursday, June 18th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, A10 Networks presently has a consensus rating of “Hold” and an average price target of $31.29.

Insider Activity

In other A10 Networks news, Director Eric Singer sold 24,698 shares of the stock in a transaction that occurred on Tuesday, May 5th. The shares were 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 in the company, valued at $1,872,211.26. This represents a 26.41% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.21% of the stock is currently owned by insiders.

About A10 Networks

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.