Bridge City Capital LLC Sells 96,782 Shares of A10 Networks, Inc. (NYSE:ATEN)

Bridge City Capital LLC lowered its stake in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 18.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 422,803 shares of the communications equipment provider's stock after selling 96,782 shares during the quarter. A10 Networks makes up about 2.1% of Bridge City Capital LLC's investment portfolio, making the stock its 7th largest holding. Bridge City Capital LLC owned approximately 0.57% of A10 Networks worth $6,909,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Sunbelt Securities Inc. acquired a new position in A10 Networks in the 4th quarter valued at approximately $50,000. KBC Group NV grew its stake in shares of A10 Networks by 79.1% in the fourth quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider's stock worth $94,000 after acquiring an additional 2,251 shares during the last quarter. Harvest Fund Management Co. Ltd bought a new position in A10 Networks during the fourth quarter worth $161,000. Freestone Grove Partners LP acquired a new position in A10 Networks during the 4th quarter valued at $197,000. Finally, Sciencast Management LP acquired a new stake in A10 Networks during the fourth quarter worth about $198,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on ATEN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A10 Networks in a report on Saturday, May 31st. Raymond James assumed coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They set a "market perform" rating on the stock. BWS Financial reaffirmed a "buy" rating and issued a $24.00 price target on shares of A10 Networks in a report on Friday, May 2nd. Craig Hallum raised shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a report on Friday, May 2nd. Finally, Wall Street Zen downgraded A10 Networks from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Two equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $22.00.

Insider Activity at A10 Networks

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction on 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 in the company, valued at approximately $1,052,980.82. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.15% of the company's stock.

A10 Networks Stock Down 0.1%

NYSE ATEN traded down $0.02 during trading hours on Thursday, hitting $17.93. The company's stock had a trading volume of 526,919 shares, compared to its average volume of 863,731. A10 Networks, Inc. has a twelve month low of $12.27 and a twelve month high of $21.90. The firm has a market capitalization of $1.29 billion, a P/E ratio of 26.76 and a beta of 1.38. The stock has a fifty day moving average of $16.77 and a 200 day moving average of $18.09.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its quarterly earnings data 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. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. The business had revenue of $66.14 million during the quarter, compared to analysts' expectations of $63.63 million. During the same period in the previous year, the firm earned $0.17 earnings per share. The firm's quarterly revenue was up 8.9% compared to the same quarter last year. On average, analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend was Thursday, May 15th. A10 Networks's payout ratio is 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.