State of Wyoming Sells 17,894 Shares of A10 Networks, Inc. $ATEN

Key Points

• The State of Wyoming has reduced its holdings in A10 Networks, Inc. by 85.5% in the first quarter, resulting in ownership of just 3,032 shares valued at approximately $50,000.
• Several hedge funds have increased their stakes in A10 Networks, with Wellington Management Group boosting its position by 390.9% and now holding over 1.1 million shares.
• A10 Networks recently reported earnings of $0.21 per share for the last quarter, exceeding analysts' expectations, while quarterly revenue increased by 15.5% year-over-year.

State of Wyoming trimmed its position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 85.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,032 shares of the communications equipment provider's stock after selling 17,894 shares during the period. State of Wyoming's holdings in A10 Networks were worth $50,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in ATEN. Boston Trust Walden Corp acquired a new stake in shares of A10 Networks during the 1st quarter worth $26,894,000. Wellington Management Group LLP increased its holdings in shares of A10 Networks by 390.9% during the 1st quarter. Wellington Management Group LLP now owns 1,130,119 shares of the communications equipment provider's stock worth $18,466,000 after buying an additional 899,919 shares during the last quarter. Invesco Ltd. increased its holdings in A10 Networks by 184.7% in the 1st quarter. Invesco Ltd. now owns 1,045,406 shares of the communications equipment provider's stock valued at $17,082,000 after purchasing an additional 678,207 shares in the last quarter. Penserra Capital Management LLC increased its holdings in A10 Networks by 29.9% in the 1st quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock valued at $41,490,000 after purchasing an additional 584,116 shares in the last quarter. Finally, Aptus Capital Advisors LLC acquired a new stake in A10 Networks in the 1st quarter valued at $4,819,000. 98.61% of the stock is currently owned by institutional investors and hedge funds.

A10 Networks Stock Down 2.4%

Shares of NYSE:ATEN traded down $0.44 during midday trading on Friday, reaching $17.43. 499,322 shares of the company were exchanged, compared to its average volume of 599,879. A10 Networks, Inc. has a fifty-two week low of $13.30 and a fifty-two week high of $21.90. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07. The stock has a fifty day simple moving average of $17.99 and a two-hundred day simple moving average of $17.68. The firm has a market cap of $1.26 billion, a PE ratio of 25.64 and a beta of 1.37.

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

A10 Networks Dividend Announcement

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

Insider Buying and Selling at A10 Networks

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the company's 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 in the company, valued at approximately $1,399,109.97. This represents a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.15% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Mizuho began coverage on A10 Networks in a research note on Monday, July 14th. They issued a "neutral" rating for the company. Wall Street Zen upgraded shares of A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Weiss Ratings restated a "hold (c+)" rating on shares of A10 Networks in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft initiated coverage on shares of A10 Networks in a research note on Friday, June 27th. They set a "buy" rating and a $22.00 price objective on the stock. Finally, BTIG Research raised shares of 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. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, A10 Networks presently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

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.