A10 Networks, Inc. (NYSE:ATEN) Shares Sold by Legato Capital Management LLC

Legato Capital Management LLC lowered its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 27.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,635 shares of the communications equipment provider's stock after selling 29,058 shares during the period. Legato Capital Management LLC owned approximately 0.10% of A10 Networks worth $1,236,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in A10 Networks in the 1st quarter valued at $2,281,000. Y Intercept Hong Kong Ltd purchased a new stake in shares of A10 Networks in the 1st quarter worth $719,000. Allianz Asset Management GmbH lifted its holdings in shares of A10 Networks by 98.7% in the 1st quarter. Allianz Asset Management GmbH now owns 197,881 shares of the communications equipment provider's stock worth $3,233,000 after buying an additional 98,293 shares during the period. Summit Partners L P lifted its holdings in shares of A10 Networks by 7.4% in the 1st quarter. Summit Partners L P now owns 187,367 shares of the communications equipment provider's stock worth $3,062,000 after buying an additional 12,903 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in shares of A10 Networks by 124.4% in the 1st quarter. Victory Capital Management Inc. now owns 385,332 shares of the communications equipment provider's stock worth $6,296,000 after buying an additional 213,592 shares during the period. 98.61% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, General Counsel Robert Scott Weber sold 2,500 shares of the company's stock in a transaction on Tuesday, May 27th. The stock was 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 document filed with the SEC, which is available at this hyperlink. 1.15% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have weighed in on ATEN shares. Mizuho started coverage on A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating for the company. Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research note on Friday, May 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a report on Thursday, July 17th. BWS Financial restated a "buy" rating and issued a $24.00 price objective on shares of A10 Networks in a research note on Friday, May 2nd. Finally, Wall Street Zen cut A10 Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, A10 Networks currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

A10 Networks Price Performance

Shares of A10 Networks stock traded down $0.16 on Friday, hitting $18.57. The company's stock had a trading volume of 420,275 shares, compared to its average volume of 980,377. The company has a market capitalization of $1.34 billion, a price-to-earnings ratio of 27.71, a price-to-earnings-growth ratio of 4.49 and a beta of 1.39. A10 Networks, Inc. has a 1 year low of $12.27 and a 1 year high of $21.90. The firm has a fifty day moving average price of $18.28 and a 200-day moving average price of $18.21. 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 (NYSE:ATEN - Get Free Report) last released its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. The business had revenue of $66.14 million during the quarter, compared to analysts' expectations of $63.63 million. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The company's quarterly revenue was up 8.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.17 earnings per share. As a group, sell-side analysts anticipate that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date was Thursday, May 15th. A10 Networks's dividend payout ratio (DPR) is currently 35.82%.

A10 Networks Company 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.