Deprince Race & Zollo Inc. Invests $13.06 Million in A10 Networks, Inc. $ATEN

Key Points

• Deprince Race & Zollo opened a new position in A10 Networks in Q1, buying 564,800 shares worth about $13.06 million and becoming a holder of roughly 0.79% of the company.
• A10 Networks reported better-than-expected quarterly results, with EPS of $0.24 versus $0.22 expected and revenue of $75 million, up 13.4% year over year.
• The stock has rallied sharply, recently trading at $36.32 near its 52-week high of $38.39, while analysts currently rate it a Hold on average with a $30.71 price target.

Deprince Race & Zollo Inc. purchased a new position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 564,800 shares of the communications equipment provider's stock, valued at approximately $13,058,000. Deprince Race & Zollo Inc. owned approximately 0.79% of A10 Networks as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in A10 Networks by 1.3% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,699,629 shares of the communications equipment provider's stock valued at $48,997,000 after purchasing an additional 35,381 shares in the last quarter. First Trust Advisors LP boosted its stake in A10 Networks by 21.1% during the 4th quarter. First Trust Advisors LP now owns 2,463,337 shares of the communications equipment provider's stock worth $43,576,000 after purchasing an additional 429,066 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of A10 Networks by 40.2% during the third quarter. Wellington Management Group LLP now owns 2,054,213 shares of the communications equipment provider's stock worth $37,284,000 after buying an additional 588,922 shares in the last quarter. Barclays PLC grew its holdings in shares of A10 Networks by 34.9% during the fourth quarter. Barclays PLC now owns 1,841,906 shares of the communications equipment provider's stock worth $32,583,000 after buying an additional 476,647 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of A10 Networks by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 1,777,631 shares of the communications equipment provider's stock valued at $31,452,000 after buying an additional 10,052 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Eric Singer sold 24,698 shares of the company's stock in a transaction that occurred on Tuesday, May 5th. The stock was sold at an average price of $27.21, for a total value of $672,032.58. Following the transaction, the director directly owned 68,806 shares in the company, valued at approximately $1,872,211.26. This represents a 26.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.21% of the company's stock.

A10 Networks Price Performance

Shares of ATEN stock opened at $36.32 on Friday. The company has a debt-to-equity ratio of 0.99, a current ratio of 3.71 and a quick ratio of 3.56. The firm's 50-day moving average is $30.59 and its two-hundred day moving average is $23.88. A10 Networks, Inc. has a 12 month low of $16.52 and a 12 month high of $38.39. The company has a market capitalization of $2.62 billion, a PE ratio of 58.59 and a beta of 1.14.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its earnings results on Tuesday, April 28th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. A10 Networks had a net margin of 14.90% and a return on equity of 25.00%. The company had revenue of $75.00 million for the quarter, compared to analyst estimates of $72.61 million. During the same period in the previous year, the business posted $0.20 EPS. A10 Networks's revenue was up 13.4% on a year-over-year basis. A10 Networks has set its FY 2026 guidance at 0.640-0.650 EPS. Analysts predict that A10 Networks, Inc. will post 0.83 earnings per share for the current year.

A10 Networks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Friday, May 15th were issued a $0.06 dividend. The ex-dividend date was Friday, May 15th. This represents a $0.24 dividend on an annualized basis and a yield of 0.7%. A10 Networks's dividend payout ratio is currently 38.71%.

Wall Street Analyst Weigh In

ATEN has been the topic of several research reports. Sidoti reissued a "neutral" rating and issued a $24.00 price target on shares of A10 Networks in a research note on Monday, April 20th. Loop Capital set a $25.00 price objective on shares of A10 Networks in a research note on Monday, March 9th. Zacks Research downgraded shares of A10 Networks from a "strong-buy" rating to a "hold" rating in a report on Monday. BTIG Research raised their target price on shares of A10 Networks from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Thursday, June 18th. Finally, Mizuho raised their target price on shares of A10 Networks from $27.00 to $30.00 and gave the stock a "neutral" rating in a research note on Thursday, June 11th. Two investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, A10 Networks has an average rating of "Hold" and an average price target of $30.71.

A10 Networks Profile

A10 Networks, Inc NYSE: ATEN, headquartered in San Jose, California, designs and sells networking and security solutions that accelerate application performance and protect data across on-premises, cloud and hybrid environments. Founded in 2004, the company's offerings target enterprises, service providers and cloud operators seeking high availability, secure access and optimized traffic delivery for critical applications.

The company's core portfolio includes application delivery controllers (ADCs) for load balancing and traffic management, advanced distributed denial-of-service (DDoS) protection appliances, SSL inspection solutions and carrier-grade NAT (CGNAT) platforms.

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