Canada Pension Plan Investment Board Grows Position in A10 Networks, Inc. $ATEN

Key Points

• The Canada Pension Plan Investment Board increased its stake in A10 Networks by 165.5% during Q1, owning approximately 0.15% of the company worth $1.79 million.
• A10 Networks reported $0.21 earnings per share for the last quarter, surpassing analysts' expectations of $0.20, and showing a year-over-year revenue increase of 15.5%.
• The company announced a quarterly dividend of $0.06, with a current dividend yield of 1.3% and a payout ratio of 35.29%.

Canada Pension Plan Investment Board boosted its position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 165.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 109,400 shares of the communications equipment provider's stock after buying an additional 68,200 shares during the period. Canada Pension Plan Investment Board owned approximately 0.15% of A10 Networks worth $1,788,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ATEN. Northern Trust Corp boosted its position in shares of A10 Networks by 5.1% in the 4th quarter. Northern Trust Corp now owns 765,209 shares of the communications equipment provider's stock worth $14,080,000 after purchasing an additional 36,887 shares in the last quarter. Schonfeld Strategic Advisors LLC lifted its stake 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 purchasing an additional 1,010 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in A10 Networks by 131.1% during the fourth quarter. BNP Paribas Financial Markets now owns 97,521 shares of the communications equipment provider's stock worth $1,794,000 after purchasing an additional 55,314 shares in the last quarter. Bank of America Corp DE increased its holdings in A10 Networks by 43.5% in the fourth quarter. Bank of America Corp DE now owns 181,956 shares of the communications equipment provider's stock valued at $3,348,000 after buying an additional 55,134 shares during the last quarter. Finally, Centiva Capital LP grew its holdings in shares of A10 Networks by 25.6% during the fourth quarter. Centiva Capital LP now owns 16,774 shares of the communications equipment provider's stock worth $309,000 after purchasing an additional 3,424 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

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

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ATEN shares. Weiss Ratings reissued a "hold (c+)" rating on shares of A10 Networks in a research note on Wednesday, September 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of A10 Networks in a research note on Friday, June 27th. They set a "buy" rating and a $22.00 target price for the company. BTIG Research upgraded shares of A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a research note on Wednesday, August 6th. Mizuho assumed coverage on shares of A10 Networks in a research report on Monday, July 14th. They issued a "neutral" rating on the stock. Finally, Wall Street Zen raised shares of A10 Networks from a "hold" rating to a "buy" rating in a report on Sunday, August 10th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $22.00.

A10 Networks Stock Down 0.5%

Shares of NYSE ATEN traded down $0.10 during trading on Wednesday, hitting $17.40. The stock had a trading volume of 620,205 shares, compared to its average volume of 616,753. The company has a market capitalization of $1.26 billion, a PE ratio of 25.58 and a beta of 1.37. The firm has a fifty day moving average of $18.09 and a two-hundred day moving average of $17.72. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04. A10 Networks, Inc. has a 12 month low of $12.72 and a 12 month high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The firm had revenue of $69.38 million during the quarter, compared to analyst estimates of $65.99 million. During the same quarter last year, the business earned $0.18 earnings per share. The company's quarterly revenue was up 15.5% on a year-over-year basis. As a group, equities research analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current fiscal 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 $0.06 dividend. The ex-dividend date of this dividend 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 is currently 35.29%.

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.