AlphaQuest LLC reduced its position in shares of A10 Networks, Inc. (NYSE:ATEN – Free Report) by 89.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,403 shares of the communications equipment provider’s stock after selling 46,173 shares during the quarter. AlphaQuest LLC’s holdings in A10 Networks were worth $88,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of the company. Principal Financial Group Inc. lifted its stake in A10 Networks by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider’s stock valued at $6,806,000 after buying an additional 12,282 shares in the last quarter. Assenagon Asset Management S.A. purchased a new position in A10 Networks in the 1st quarter valued at about $295,000. Squarepoint Ops LLC lifted its stake in A10 Networks by 363.8% in the 4th quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider’s stock valued at $2,206,000 after buying an additional 94,032 shares in the last quarter. GAMMA Investing LLC lifted its stake in A10 Networks by 1,938.5% in the 1st quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider’s stock valued at $818,000 after buying an additional 47,610 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in A10 Networks by 50.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider’s stock valued at $336,000 after buying an additional 6,893 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of research analysts recently weighed in on the stock. Mizuho assumed coverage on shares of A10 Networks in a research note on Monday, July 14th. They issued a “neutral” rating on the stock. BTIG Research raised shares of A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, August 6th. Wall Street Zen raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Sunday, August 10th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of A10 Networks in a research note on Friday, June 27th. They issued a “buy” rating and a $22.00 price target on the stock. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of A10 Networks in a research note on Saturday, August 16th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $22.00.
Read Our Latest Research Report on ATEN
A10 Networks Stock Down 2.0%
Shares of NYSE ATEN opened at $17.35 on Wednesday. The company has a 50 day simple moving average of $18.29 and a 200-day simple moving average of $17.85. The company has a market capitalization of $1.25 billion, a P/E ratio of 25.51 and a beta of 1.37. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04. A10 Networks, Inc. has a 1 year low of $12.72 and a 1 year high of $21.90.
A10 Networks (NYSE:ATEN – Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.01. The business had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The business’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.18 EPS. On average, equities research analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current year.
A10 Networks Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks’s dividend payout ratio (DPR) is currently 35.29%.
Insider Activity
In other news, CFO Brian Becker sold 6,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total transaction of $115,392.00. Following the completion of the sale, the chief financial officer owned 77,599 shares in the company, valued at $1,399,109.97. This trade represents a 7.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.15% of the stock is owned by corporate insiders.
A10 Networks Company 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.
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ABMN Staff
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