A10 Networks, Inc. $ATEN Shares Sold by Quantbot Technologies LP

Key Points

• Quantbot Technologies LP has significantly reduced its stake in A10 Networks by 86.9%, now holding only 6,357 shares after selling 42,289 during the first quarter.
• A10 Networks reported an earnings per share of $0.21 in its latest quarterly earnings, exceeding analyst expectations of $0.20, and also showed a 15.5% increase in revenue year-over-year.
• The company will pay a quarterly dividend of $0.06 on September 2nd, with an annualized yield of 1.4%, reflecting a dividend payout ratio of 35.29%.

Quantbot Technologies LP lessened its holdings in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 86.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,357 shares of the communications equipment provider's stock after selling 42,289 shares during the quarter. Quantbot Technologies LP's holdings in A10 Networks were worth $104,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Federated Hermes Inc. increased its position in shares of A10 Networks by 1.8% during the 1st quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider's stock valued at $743,000 after purchasing an additional 783 shares during the last quarter. Linden Thomas Advisory Services LLC raised 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 worth $215,000 after buying an additional 963 shares in the last quarter. Schonfeld Strategic Advisors LLC boosted its stake in A10 Networks by 3.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the communications equipment provider's stock worth $574,000 after acquiring an additional 1,010 shares in the last quarter. Wedge Capital Management L L P NC boosted its stake in A10 Networks by 1.6% during the first 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 acquiring an additional 1,295 shares in the last quarter. Finally, Verity Asset Management Inc. boosted its stake in A10 Networks by 1.7% during the first quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock worth $1,334,000 after acquiring an additional 1,378 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

A10 Networks Stock Down 2.0%

A10 Networks stock traded down $0.36 during midday trading on Tuesday, hitting $17.35. 913,829 shares of the company's stock were exchanged, compared to its average volume of 951,303. The company has a market cap of $1.25 billion, a PE ratio of 25.51 and a beta of 1.37. The firm has a 50-day moving average of $18.31 and a two-hundred day moving average of $17.85. A10 Networks, Inc. has a 12 month low of $12.72 and a 12 month high of $21.90. 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 (NYSE:ATEN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $69.38 million during 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 company's quarterly revenue was up 15.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.18 earnings per share. As a group, analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 2nd. Shareholders 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 of this dividend is Friday, August 15th. A10 Networks's dividend payout ratio (DPR) is currently 35.29%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ATEN. Wall Street Zen upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a research note on Friday, June 27th. They issued a "buy" rating and a $22.00 price objective on the stock. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research note on Wednesday, August 6th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of A10 Networks in a research note on Saturday, August 16th. Finally, Mizuho started coverage on A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating on the stock. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $22.00.

Insiders Place Their Bets

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total value of $115,392.00. Following the completion of the sale, 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.15% of the company's stock.

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.