A10 Networks, Inc. $ATEN Shares Sold by AlphaQuest LLC

Key Points

• AlphaQuest LLC reduced its stake in A10 Networks by 89.5% in the first quarter, now holding only 5,403 shares valued at $88,000 after selling 46,173 shares.
• Several hedge funds have adjusted their stakes in A10 Networks, with Principal Financial Group increasing its holdings by 3.0% and GAMMA Investing LLC increasing its stake by 1,938.5%.
• A10 Networks recently declared a quarterly dividend of $0.06 per share, reflecting a dividend yield of 1.4% and a payout ratio of 35.29%.

AlphaQuest LLC lessened its stake in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 89.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,403 shares of the communications equipment provider's stock after selling 46,173 shares during the period. AlphaQuest LLC's holdings in A10 Networks were worth $88,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of ATEN. Federated Hermes Inc. lifted its holdings in A10 Networks by 1.8% during the first quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider's stock worth $743,000 after buying an additional 783 shares during the period. Linden Thomas Advisory Services LLC lifted its holdings 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 worth $215,000 after buying an additional 963 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings in A10 Networks by 3.3% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 31,200 shares of the communications equipment provider's stock worth $574,000 after buying an additional 1,010 shares during the period. Wedge Capital Management L L P NC lifted its holdings in A10 Networks by 1.6% during the first quarter. Wedge Capital Management L L P NC now owns 80,299 shares of the communications equipment provider's stock worth $1,312,000 after buying an additional 1,295 shares during the period. Finally, Verity Asset Management Inc. lifted its holdings in A10 Networks by 1.7% during the first quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider's stock worth $1,334,000 after buying an additional 1,378 shares during the period. Institutional investors own 98.61% of the company's stock.

Insider Activity at A10 Networks

In other news, CFO Brian Becker sold 6,400 shares of the firm's stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total transaction of $115,392.00. Following the sale, the chief financial officer directly owned 77,599 shares in the company, valued at $1,399,109.97. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.15% of the stock is owned by company insiders.

A10 Networks Stock Performance

ATEN traded down $0.19 during midday trading on Friday, hitting $17.63. 566,487 shares of the company were exchanged, compared to its average volume of 944,194. The company's 50 day simple moving average is $18.24 and its 200 day simple moving average is $17.82. The firm has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.93 and a beta of 1.37. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. A10 Networks, Inc. has a 1-year low of $12.72 and a 1-year high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.01. The company had revenue of $69.38 million for the quarter, compared to the consensus estimate of $65.99 million. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The firm's revenue for the quarter was up 15.5% compared to the same quarter last year. During the same period last year, the firm earned $0.18 EPS. As a group, sell-side analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th were given a dividend of $0.06 per share. The ex-dividend date was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is 35.29%.

Analysts Set New Price Targets

ATEN has been the subject of a number of analyst reports. Mizuho initiated coverage on A10 Networks in a report on Monday, July 14th. They set a "neutral" rating for the company. Wall Street Zen upgraded A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a report on Friday, June 27th. They set a "buy" rating and a $22.00 price objective for the company. BTIG Research upgraded A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a report on Wednesday, August 6th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a report on Wednesday. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average 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.