Algert Global LLC Has $6.87 Million Stake in A10 Networks, Inc. $ATEN

Key Points

• Algert Global LLC reduced its stake in A10 Networks, Inc. (NYSE:ATEN) by 4.1%, owning 420,328 shares valued at approximately $6.87 million as of the end of the first quarter.
• A10 Networks announced a quarterly dividend of $0.06 per share, representing an annualized yield of 1.4%, with the distribution set for September 2nd.
• Analysts maintain a consensus rating of "Moderate Buy" for A10 Networks, with price targets ranging from $22.00 to $24.00 issued by multiple brokerages.

Algert Global LLC decreased its position in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 4.1% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 420,328 shares of the communications equipment provider's stock after selling 18,140 shares during the period. Algert Global LLC owned about 0.58% of A10 Networks worth $6,868,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Federated Hermes Inc. boosted its stake in A10 Networks by 1.8% in the 1st quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider's stock worth $743,000 after purchasing an additional 783 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in A10 Networks by 7.9% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider's stock worth $215,000 after purchasing an additional 963 shares during the period. Schonfeld Strategic Advisors LLC boosted its stake in A10 Networks by 3.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the communications equipment provider's stock worth $574,000 after purchasing an additional 1,010 shares during the period. Wedge Capital Management L L P NC lifted its position in A10 Networks by 1.6% in the 1st quarter. Wedge Capital Management L L P NC now owns 80,299 shares of the communications equipment provider's stock worth $1,312,000 after buying an additional 1,295 shares in the last quarter. Finally, Verity Asset Management Inc. lifted its position in A10 Networks by 1.7% in the 1st quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock worth $1,334,000 after buying an additional 1,378 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

A10 Networks Stock Up 2.4%

Shares of A10 Networks stock traded up $0.4060 during midday trading on Friday, reaching $17.3960. 568,457 shares of the company's stock traded hands, compared to its average volume of 802,609. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 25.58 and a beta of 1.35. The company's 50 day simple moving average is $18.38 and its 200 day simple moving average is $18.03. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. 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 announced its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. The firm had revenue of $69.38 million for 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 quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.18 EPS. Equities analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The company 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 $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.4%. The ex-dividend date is Friday, August 15th. A10 Networks's dividend payout ratio (DPR) is 35.29%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ATEN. Craig Hallum upgraded shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 target price for the company in a research report on Friday, May 2nd. Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a research report on Saturday, August 16th. BWS Financial reiterated a "buy" rating and issued a $24.00 target price on shares of A10 Networks in a research report on Friday, May 2nd. Mizuho began coverage on shares of A10 Networks in a research report on Monday, July 14th. They issued a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft began coverage on shares of A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 target price for the company. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, A10 Networks presently has an average rating of "Moderate Buy" and an average price target of $22.00.

Insider Buying and Selling at A10 Networks

In related news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total value of $43,150.00. Following the transaction, the general counsel owned 61,007 shares in the company, valued at $1,052,980.82. This trade represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Brian Becker sold 6,400 shares of A10 Networks stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total transaction of $115,392.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Company insiders own 1.15% of the company's stock.

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.