Balyasny Asset Management L.P. Sells 43,576 Shares of A10 Networks, Inc. (NYSE:ATEN)

Balyasny Asset Management L.P. cut its stake in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 22.6% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 148,890 shares of the communications equipment provider's stock after selling 43,576 shares during the period. Balyasny Asset Management L.P. owned about 0.20% of A10 Networks worth $2,740,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Barclays PLC grew its position in A10 Networks by 234.1% in the third quarter. Barclays PLC now owns 152,238 shares of the communications equipment provider's stock worth $2,198,000 after acquiring an additional 106,672 shares in the last quarter. SG Americas Securities LLC boosted its holdings in A10 Networks by 359.3% in the fourth quarter. SG Americas Securities LLC now owns 32,607 shares of the communications equipment provider's stock worth $600,000 after purchasing an additional 25,508 shares in the last quarter. Sawgrass Asset Management LLC bought a new stake in A10 Networks in the fourth quarter worth $213,000. Hennion & Walsh Asset Management Inc. acquired a new position in A10 Networks during the fourth quarter worth $247,000. Finally, JPMorgan Chase & Co. raised its holdings in A10 Networks by 59.0% during the third quarter. JPMorgan Chase & Co. now owns 324,195 shares of the communications equipment provider's stock valued at $4,681,000 after buying an additional 120,342 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

Analysts Set New Price Targets

ATEN has been the subject of several recent analyst reports. StockNews.com downgraded A10 Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Friday, May 2nd. Weiss Ratings cut shares of A10 Networks from a "buy (b-)" rating to a "hold (c)" rating in a research note on Saturday, May 10th. Raymond James started coverage on shares of A10 Networks in a report on Wednesday, April 23rd. They set a "market perform" rating for the company. Finally, BWS Financial reissued a "buy" rating and set a $24.00 target price on shares of A10 Networks in a research report on Friday, May 2nd. Two equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $22.00.

A10 Networks Stock Down 0.7%

NYSE ATEN traded down $0.13 during trading on Thursday, hitting $17.50. The company's stock had a trading volume of 608,891 shares, compared to its average volume of 876,821. A10 Networks, Inc. has a 52 week low of $12.27 and a 52 week high of $21.90. The firm has a market cap of $1.26 billion, a P/E ratio of 26.12 and a beta of 1.37. The firm has a 50 day moving average price of $16.68 and a 200 day moving average price of $17.84.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The business had revenue of $66.14 million for the quarter, compared to analyst estimates of $63.63 million. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. A10 Networks's revenue was up 8.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.17 earnings per share. On average, equities analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $0.24 annualized dividend and a yield of 1.37%. A10 Networks's dividend payout ratio (DPR) is 35.82%.

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.