Connor Clark & Lunn Investment Management Ltd. Grows Stake in A10 Networks, Inc. (NYSE:ATEN)

Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of A10 Networks, Inc. (NYSE:ATEN) by 0.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 248,491 shares of the communications equipment provider’s stock after acquiring an additional 1,413 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.34% of A10 Networks worth $3,588,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Canada Pension Plan Investment Board bought a new stake in shares of A10 Networks in the second quarter valued at $29,000. Copeland Capital Management LLC purchased a new position in shares of A10 Networks in the third quarter worth about $43,000. Quarry LP bought a new stake in shares of A10 Networks in the second quarter valued at approximately $47,000. nVerses Capital LLC purchased a new stake in shares of A10 Networks during the 2nd quarter valued at approximately $105,000. Finally, Meeder Asset Management Inc. bought a new position in A10 Networks in the 2nd quarter worth approximately $137,000. Institutional investors own 98.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. StockNews.com raised A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th. BWS Financial lifted their target price on A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Craig Hallum lowered shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price objective for the company. in a research report on Friday, November 8th.

Insider Transactions at A10 Networks

In related news, EVP Karen S. Thomas sold 6,162 shares of the firm’s stock in a transaction dated Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following the transaction, the executive vice president now directly owns 23,799 shares of the company’s stock, valued at approximately $397,443.30. This trade represents a 20.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 5.81% of the stock is currently owned by insiders.

A10 Networks Stock Performance

A10 Networks stock opened at $16.62 on Monday. A10 Networks, Inc. has a fifty-two week low of $12.10 and a fifty-two week high of $16.92. The stock has a market cap of $1.23 billion, a P/E ratio of 24.81 and a beta of 1.11. The firm’s fifty day moving average price is $14.87 and its 200-day moving average price is $14.25.

A10 Networks (NYSE:ATEN) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $66.72 million for the quarter, compared to analyst estimates of $63.78 million. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the company earned $0.12 EPS. Sell-side analysts predict that A10 Networks, Inc. will post 0.6 earnings per share for the current year.

A10 Networks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.44%. The ex-dividend date of this dividend is Monday, November 18th. A10 Networks’s dividend payout ratio (DPR) is currently 35.82%.

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.