Gallacher Capital Management LLC Buys Shares of 15,285 A10 Networks, Inc. $ATEN

Key Points

• Gallacher Capital Management LLC acquired 15,285 shares of A10 Networks, valued at approximately $296,000, indicating a significant investment in the communications equipment provider.
• Multiple institutional investors have been actively increasing their stakes in A10 Networks, with over 98.61% of the stock now owned by such entities.
• A10 Networks received several upgrades from investment analysts, resulting in a consensus rating of "Moderate Buy" with a target price of $22.00.

Gallacher Capital Management LLC bought a new position in A10 Networks, Inc. (NYSE:ATEN - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 15,285 shares of the communications equipment provider's stock, valued at approximately $296,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in A10 Networks by 3.0% in the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider's stock worth $6,806,000 after buying an additional 12,282 shares during the last quarter. Assenagon Asset Management S.A. bought a new stake in shares of A10 Networks during the first quarter valued at approximately $295,000. Squarepoint Ops LLC increased its position in shares of A10 Networks by 363.8% during the fourth quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider's stock valued at $2,206,000 after acquiring an additional 94,032 shares in the last quarter. GAMMA Investing LLC raised its holdings in A10 Networks by 1,938.5% in the 1st quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider's stock worth $818,000 after acquiring an additional 47,610 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its stake in A10 Networks by 50.3% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 20,592 shares of the communications equipment provider's stock valued at $336,000 after purchasing an additional 6,893 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the business's stock in a transaction that occurred on 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 of the company's stock, valued at $1,399,109.97. The trade was a 7.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 1.15% of the company's stock.

A10 Networks Stock Performance

NYSE:ATEN opened at $17.68 on Tuesday. The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. The stock has a 50-day simple moving average of $17.94 and a two-hundred day simple moving average of $17.62. The firm has a market capitalization of $1.28 billion, a PE ratio of 25.99 and a beta of 1.37. A10 Networks, Inc. has a 52-week low of $13.58 and a 52-week high of $21.90.

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

A10 Networks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders 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 annualized dividend and a yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is 35.29%.

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.

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