Algert Global LLC Sells 18,140 Shares of 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 reduced its stake in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 4.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 420,328 shares of the communications equipment provider's stock after selling 18,140 shares during the period. Algert Global LLC owned 0.58% of A10 Networks worth $6,868,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Vestcor Inc purchased a new position in shares of A10 Networks during the 1st quarter valued at $44,000. Sunbelt Securities Inc. purchased a new position in shares of A10 Networks during the 4th quarter valued at $50,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of A10 Networks during the 1st quarter valued at $55,000. CWM LLC grew its holdings in shares of A10 Networks by 45.6% during the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock valued at $76,000 after acquiring an additional 1,454 shares in the last quarter. Finally, Freestone Grove Partners LP purchased a new position in shares of A10 Networks during the 4th quarter valued at $197,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the sale, the general counsel directly owned 61,007 shares in the company, valued at $1,052,980.82. This represents a 3.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 directly owned 77,599 shares of the company's stock, valued at approximately $1,399,109.97. This represents a 7.62% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.15% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ATEN shares. Wall Street Zen upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Craig Hallum upgraded shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks in a report on Friday, June 27th. They issued a "buy" rating and a $22.00 price objective for the company. Raymond James Financial began coverage on shares of A10 Networks in a report on Wednesday, April 23rd. They issued a "market perform" rating for the company. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of A10 Networks in a research report on Saturday. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $22.00.

A10 Networks Stock Performance

Shares of ATEN traded down $0.0650 during trading hours on Wednesday, reaching $16.9950. 583,629 shares of the company traded hands, compared to its average volume of 799,902. The stock's fifty day moving average is $18.40 and its 200 day moving average is $18.07. The stock has a market cap of $1.23 billion, a P/E ratio of 24.99 and a beta of 1.35. 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 1-year low of $12.72 and a 1-year high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.01. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The firm had revenue of $69.38 million during the quarter, compared to analyst estimates of $65.99 million. During the same quarter in the prior year, the business posted $0.18 earnings per share. The company's quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts anticipate that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

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

About A10 Networks

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.