Hedge Funds Are Betting On A10 Networks Inc (ATEN)

As industrywide interest jumped, some big names were breaking ground themselves. Arrowstreet Capital, led by Peter Rathjens, Bruce Clarke and John Campbell, established the most outsized position in A10 Networks Inc (NYSE:ATEN). Arrowstreet Capital had $0.5 million invested in the company at the end of the quarter. Paul Tudor Jones’ Tudor Investment Corp also initiated a $0.3 million position during the third quarter. The following funds were also among the new ATEN investors: Glenn Russell Dubin’s Highbridge Capital Management, Matthew Hulsizer’s PEAK6 Capital Management, and Ken Griffin’s Citadel Investment Group.

Let’s also examine hedge fund activity in other stocks – not necessarily in the same industry as A10 Networks Inc (NYSE:ATEN) but similarly valued. These stocks are Healthways, Inc. (NASDAQ:HWAY), Modine Manufacturing Co. (NYSE:MOD), Stoneridge, Inc. (NYSE:SRI), and Arena Pharmaceuticals, Inc. (NASDAQ:ARNA). This group of stocks’ market caps are closest to ATEN’s market cap.

As you can see these stocks had an average of 16 hedge funds with bullish positions and the average amount invested in these stocks was $114 million. That figure was $62 million in ATEN’s case. Stoneridge, Inc. (NYSE:SRI) is the most popular stock in this table. On the other hand Arena Pharmaceuticals, Inc. (NASDAQ:ARNA) is the least popular one with only nine long hedge fund positions. A10 Networks Inc (NYSE:ATEN) registered a level of interest close to average, which is a slightly positive signal. However, we’d rather spend our time researching stocks that hedge funds are piling on. In this regard SRI might be a better candidate to consider taking a long position in.

Disclosure: none