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

Other hedge funds have also recently made changes to their positions in the company. Principal Financial Group Inc. grew its holdings in shares of A10 Networks by 3.0% during the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider's stock valued at $6,806,000 after buying an additional 12,282 shares during the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of A10 Networks during the first quarter valued at about $295,000. Squarepoint Ops LLC grew its holdings in shares of A10 Networks by 363.8% during the fourth quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider's stock valued at $2,206,000 after buying an additional 94,032 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of A10 Networks by 1,938.5% during the first quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider's stock valued at $818,000 after buying an additional 47,610 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of A10 Networks by 50.3% during the first quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider's stock valued at $336,000 after buying an additional 6,893 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Brian Becker sold 6,400 shares of the business'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 value of $115,392.00. Following the sale, the chief financial officer owned 77,599 shares of the company's stock, valued at $1,399,109.97. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 1.15% of the stock is currently owned by company insiders.

A10 Networks Stock Performance

ATEN stock traded up $0.23 during mid-day trading on Monday, hitting $17.68. The company had a trading volume of 671,562 shares, compared to its average volume of 594,283. The firm has a market cap of $1.28 billion, a PE ratio of 25.99 and a beta of 1.37. 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 12 month low of $13.58 and a 12 month high of $21.90. The stock's fifty day moving average price is $17.94 and its two-hundred day moving average price is $17.62.

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, beating 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 company had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. During the same quarter in the previous year, the firm posted $0.18 earnings per share. The company's quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts forecast 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 was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. A10 Networks's payout ratio is 35.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ATEN. Mizuho began coverage on shares of A10 Networks in a research report on Monday, July 14th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft began coverage on shares of A10 Networks in a research report on Friday, June 27th. They set a "buy" rating and a $22.00 price target on the stock. Wall Street Zen raised shares of A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. BTIG Research raised shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a research report on Wednesday, August 6th. Finally, Weiss Ratings reissued a "hold (c+)" rating on shares of A10 Networks in a research report on Wednesday, September 3rd. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, A10 Networks presently has an average rating of "Moderate Buy" and a consensus target price 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.