Haven Private LLC Grows Stock Holdings in A10 Networks, Inc. (NYSE:ATEN)

Key Points

• Haven Private LLC increased its holdings in A10 Networks by 80.1%, acquiring a total of 42,094 shares, which is approximately $688,000 in value.
• A10 Networks reported a quarterly EPS of $0.20, exceeding the consensus estimate of $0.19, and their revenue increased by 8.9% year-over-year to $66.14 million.
• Analyst ratings are mostly positive, with a consensus rating of "Moderate Buy" and a target price averaging $22.00, indicating potential upside for investors.

Haven Private LLC boosted its position in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 80.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 42,094 shares of the communications equipment provider's stock after purchasing an additional 18,717 shares during the quarter. Haven Private LLC owned approximately 0.06% of A10 Networks worth $688,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vestcor Inc purchased a new stake in shares of A10 Networks in the 1st quarter worth $44,000. Sunbelt Securities Inc. purchased a new stake in A10 Networks during the 4th quarter valued at about $50,000. CWM LLC grew its stake in 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 purchasing an additional 1,454 shares during the last quarter. Freestone Grove Partners LP purchased a new position in A10 Networks during the fourth quarter worth approximately $197,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of A10 Networks in the fourth quarter valued at approximately $206,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

A10 Networks Trading Down 5.0%

ATEN traded down $0.95 during trading on Thursday, reaching $17.78. 336,353 shares of the company's stock were exchanged, compared to its average volume of 971,088. The firm has a market capitalization of $1.28 billion, a PE ratio of 26.14, a P/E/G ratio of 4.08 and a beta of 1.35. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.87 and a current ratio of 4.05. A10 Networks, Inc. has a fifty-two week low of $12.45 and a fifty-two week high of $21.90. The company's fifty day moving average price is $18.48 and its 200-day moving average price is $18.20.

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. A10 Networks had a net margin of 18.45% and a return on equity of 25.13%. The company had revenue of $69.38 million for the quarter, compared to analysts' expectations of $65.99 million. During the same period last year, the firm earned $0.18 earnings per share. The business's revenue for the quarter was up 15.5% on a year-over-year basis. As a group, equities analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current 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 paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 15th. A10 Networks's dividend payout ratio is presently 35.29%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on ATEN shares. Raymond James Financial initiated coverage on A10 Networks in a research note on Wednesday, April 23rd. They set a "market perform" rating for the company. Craig Hallum raised A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target for the company in a report on Friday, May 2nd. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a research report on Friday, June 27th. They set a "buy" rating and a $22.00 target price on the stock. BWS Financial restated a "buy" rating and issued a $24.00 price target on shares of A10 Networks in a report on Friday, May 2nd. Finally, Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a research note on Saturday, August 2nd. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, A10 Networks has a consensus rating of "Moderate Buy" and a consensus target price of $22.00.

Insider Activity at A10 Networks

In other news, General Counsel Robert Scott Weber sold 2,500 shares of the 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 of the company's stock, valued at $1,052,980.82. This represents a 3.94% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.