Allianz Asset Management GmbH Purchases 98,293 Shares of A10 Networks, Inc. (NYSE:ATEN)

Key Points

• Allianz Asset Management GmbH significantly increased its stake in A10 Networks, owning about 197,881 shares valued at $3.23 million, marking a 98.7% increase in the first quarter.
• A10 Networks has reported a net margin of 18.70% and a year-over-year revenue increase of 8.9%, with earnings per share surpassing analysts' estimates.
• The company declared a quarterly dividend of $0.06 per share, resulting in an annualized dividend yield of 1.28%, and it maintains a payout ratio of 35.82%.

Allianz Asset Management GmbH raised its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 98.7% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,881 shares of the communications equipment provider's stock after purchasing an additional 98,293 shares during the period. Allianz Asset Management GmbH owned 0.27% of A10 Networks worth $3,233,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of A10 Networks by 3.0% in the 1st quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider's stock valued at $6,806,000 after acquiring an additional 12,282 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in A10 Networks during the 1st quarter worth $295,000. Squarepoint Ops LLC raised its position in A10 Networks by 363.8% during the 4th quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider's stock worth $2,206,000 after purchasing an additional 94,032 shares during the last quarter. GAMMA Investing LLC raised its position in A10 Networks by 1,938.5% during the 1st quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider's stock worth $818,000 after purchasing an additional 47,610 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in A10 Networks by 50.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider's stock worth $336,000 after purchasing an additional 6,893 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on ATEN shares. Raymond James Financial started coverage on A10 Networks in a research report on Wednesday, April 23rd. They issued a "market perform" rating for the company. Deutsche Bank Aktiengesellschaft assumed coverage on A10 Networks in a research report on Friday, June 27th. They issued a "buy" rating and a $22.00 price objective for the company. Wall Street Zen downgraded A10 Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Mizuho assumed coverage on A10 Networks in a research note on Monday, July 14th. They issued a "neutral" rating for the company. Finally, BWS Financial restated a "buy" rating and issued a $24.00 target price on shares of A10 Networks in a research note on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $22.00.

Insider Buying and Selling at A10 Networks

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the company's 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 completion of the transaction, the general counsel directly owned 61,007 shares in the company, valued at approximately $1,052,980.82. The trade was a 3.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.15% of the company's stock.

A10 Networks Stock Performance

Shares of NYSE:ATEN traded down $0.67 during mid-day trading on Friday, reaching $17.75. The company had a trading volume of 693,223 shares, compared to its average volume of 971,953. The company has a current ratio of 4.05, a quick ratio of 3.87 and a debt-to-equity ratio of 1.11. The firm has a market cap of $1.28 billion, a price-to-earnings ratio of 26.49, a PEG ratio of 4.43 and a beta of 1.39. The company's 50-day moving average price is $18.40 and its 200-day moving average price is $18.21. A10 Networks, Inc. has a one year low of $12.27 and a one year high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.19 by $0.01. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The business had revenue of $66.14 million for the quarter, compared to analysts' expectations of $63.63 million. During the same quarter in the previous year, the firm posted $0.17 EPS. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, equities research analysts anticipate that A10 Networks, Inc. will post 0.69 EPS for the current fiscal year.

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.