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 position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 98.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 197,881 shares of the communications equipment provider's stock after acquiring an additional 98,293 shares during the period. Allianz Asset Management GmbH owned approximately 0.27% of A10 Networks worth $3,233,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Summit Partners L P lifted its holdings in A10 Networks by 7.4% in the first quarter. Summit Partners L P now owns 187,367 shares of the communications equipment provider's stock worth $3,062,000 after acquiring an additional 12,903 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in shares of A10 Networks by 124.4% in the first quarter. Victory Capital Management Inc. now owns 385,332 shares of the communications equipment provider's stock valued at $6,296,000 after acquiring an additional 213,592 shares in the last quarter. CWM LLC boosted its holdings in shares of A10 Networks by 45.6% in the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock valued at $76,000 after acquiring an additional 1,454 shares in the last quarter. Alps Advisors Inc. acquired a new stake in A10 Networks during the first quarter valued at approximately $331,000. Finally, Linden Thomas Advisory Services LLC lifted its stake in A10 Networks by 7.9% during the first quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider's stock valued at $215,000 after purchasing an additional 963 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

A10 Networks Stock Down 3.6%

A10 Networks stock traded down $0.67 during trading hours on Friday, hitting $17.75. The company had a trading volume of 693,229 shares, compared to its average volume of 814,011. The firm has a market capitalization of $1.28 billion, a P/E ratio of 26.49, a price-to-earnings-growth ratio of 4.37 and a beta of 1.35. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.05 and a quick ratio of 3.87. The firm's fifty day moving average is $18.41 and its 200-day moving average is $18.21. A10 Networks, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share for the quarter, beating the consensus estimate of $0.19 by $0.01. The firm had revenue of $66.14 million for the quarter, compared to analyst estimates of $63.63 million. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.17 EPS. On average, research analysts forecast that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

Insider Transactions at A10 Networks

In other news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction that occurred 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 trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.15% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wall Street Zen lowered shares of A10 Networks from a "buy" rating to a "hold" rating in a research note on Saturday. Mizuho began coverage on shares of A10 Networks in a report on Monday, July 14th. They set a "neutral" rating on the stock. Craig Hallum upgraded shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a report on Friday, May 2nd. Raymond James Financial began coverage on shares of A10 Networks in a report on Wednesday, April 23rd. They set a "market perform" rating on the stock. Finally, Weiss Ratings restated a "hold (c)" rating on shares of A10 Networks in a report on Thursday, July 17th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

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.