Informed Momentum Co LLC Purchases Shares of 202,826 A10 Networks, Inc. (NYSE:ATEN)

Key Points

• Informed Momentum Co LLC acquired 202,826 shares of A10 Networks, Inc. for approximately $3.3 million, representing 0.28% ownership of the company.
• A10 Networks has received multiple upgrades from analysts, with both Craig Hallum and BTIG Research increasing their ratings to "buy" and setting target prices of $20.00 and $22.00, respectively.
• A10 Networks reported a quarterly revenue of $69.38 million, exceeding estimates, with a year-over-year revenue growth of 15.5% and an earnings per share (EPS) of $0.21.

Informed Momentum Co LLC purchased a new stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 202,826 shares of the communications equipment provider's stock, valued at approximately $3,314,000. Informed Momentum Co LLC owned approximately 0.28% of A10 Networks at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Federated Hermes Inc. boosted its stake in A10 Networks by 1.8% in the first quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider's stock valued at $743,000 after acquiring an additional 783 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its stake in A10 Networks by 7.9% in the first quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider's stock valued at $215,000 after acquiring an additional 963 shares during the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in A10 Networks by 3.3% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the communications equipment provider's stock valued at $574,000 after acquiring an additional 1,010 shares during the last quarter. Wedge Capital Management L L P NC boosted its stake in A10 Networks by 1.6% in the first quarter. Wedge Capital Management L L P NC now owns 80,299 shares of the communications equipment provider's stock valued at $1,312,000 after acquiring an additional 1,295 shares during the last quarter. Finally, Verity Asset Management Inc. boosted its stake in A10 Networks by 1.7% in the first quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock valued at $1,334,000 after acquiring an additional 1,378 shares during the last quarter. 98.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

ATEN has been the topic of a number of research analyst reports. Craig Hallum upgraded shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 target price on the stock in a research note on Friday, May 2nd. Weiss Ratings restated a "hold (c)" rating on shares of A10 Networks in a research note on Saturday, August 2nd. Mizuho initiated coverage on shares of A10 Networks in a research note on Monday, July 14th. They set a "neutral" rating on the stock. BWS Financial restated a "buy" rating and set a $24.00 price target on shares of A10 Networks in a research note on Friday, May 2nd. Finally, Wall Street Zen upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Price Performance

A10 Networks stock traded down $0.13 during midday trading on Friday, reaching $17.17. 578,414 shares of the stock were exchanged, compared to its average volume of 971,875. The company's fifty day moving average is $18.49 and its 200-day moving average is $18.14. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. The firm has a market cap of $1.24 billion, a PE ratio of 25.25 and a beta of 1.35. A10 Networks, Inc. has a 52 week low of $12.72 and a 52 week high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. The firm had revenue of $69.38 million for the quarter, compared to analyst estimates 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 for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.18 EPS. On average, sell-side analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current year.

A10 Networks Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Investors of record on Friday, August 15th will be issued a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is currently 35.29%.

Insider Buying and Selling at A10 Networks

In related news, CFO Brian Becker sold 6,400 shares of the stock in a transaction 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 transaction, the chief financial officer owned 77,599 shares of the company's stock, valued at approximately $1,399,109.97. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total transaction of $43,150.00. Following the transaction, the general counsel directly owned 61,007 shares in the company, valued at approximately $1,052,980.82. This represents a 3.94% decrease in their position. The disclosure for this sale can be found here. 1.15% of the stock is currently owned by company 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.