A10 Networks, Inc. (NYSE:ATEN) Position Increased by Bank of America Corp DE

Bank of America Corp DE increased its position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 43.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 181,956 shares of the communications equipment provider's stock after purchasing an additional 55,134 shares during the period. Bank of America Corp DE owned 0.25% of A10 Networks worth $3,348,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ATEN. KBC Group NV raised its position in A10 Networks by 79.1% in the 4th quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider's stock valued at $94,000 after purchasing an additional 2,251 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new stake in shares of A10 Networks during the 4th quarter worth about $161,000. Freestone Grove Partners LP purchased a new stake in A10 Networks during the fourth quarter worth approximately $197,000. Sciencast Management LP purchased a new position in A10 Networks in the fourth quarter valued at approximately $198,000. Finally, Polymer Capital Management US LLC purchased a new stake in shares of A10 Networks during the 4th quarter worth approximately $210,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

A10 Networks Stock Down 0.3%

Shares of NYSE ATEN traded down $0.06 during midday trading on Wednesday, hitting $17.73. The company had a trading volume of 51,254 shares, compared to its average volume of 864,472. The firm has a market capitalization of $1.28 billion, a price-to-earnings ratio of 26.48 and a beta of 1.37. A10 Networks, Inc. has a twelve month low of $12.27 and a twelve month high of $21.90. The business has a 50-day simple moving average of $16.55 and a two-hundred day simple moving average of $18.04.

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 during the quarter, compared to the consensus estimate of $63.63 million. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. A10 Networks's quarterly revenue was up 8.9% on a year-over-year basis. During the same period last year, the business posted $0.17 EPS. On average, equities analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were given a dividend of $0.06 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.35%. A10 Networks's dividend payout ratio is currently 35.82%.

Wall Street Analysts Forecast Growth

ATEN has been the subject of several research reports. BWS Financial reissued a "buy" rating and issued a $24.00 target price on shares of A10 Networks in a report on Friday, May 2nd. Weiss Ratings restated a "hold (c)" rating on shares of A10 Networks in a research report on Saturday. Wall Street Zen downgraded shares of A10 Networks from a "buy" rating to a "hold" rating in a research report on Thursday, May 8th. Raymond James assumed coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They issued a "market perform" rating on the stock. Finally, Craig Hallum raised 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. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, A10 Networks has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Insider Activity at A10 Networks

In other news, General Counsel Robert Scott Weber sold 2,500 shares of the company's stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the transaction, the general counsel now owns 61,007 shares of the company's stock, valued at $1,052,980.82. This represents a 3.94% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.15% of the stock is owned by corporate insiders.

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.