Impax Asset Management Group plc Sells 227,500 Shares of A10 Networks, Inc. (NYSE:ATEN)

Impax Asset Management Group plc cut its position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) by 38.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 360,000 shares of the communications equipment provider's stock after selling 227,500 shares during the period. Impax Asset Management Group plc owned approximately 0.49% of A10 Networks worth $5,882,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATEN. Sunbelt Securities Inc. bought a new position in shares of A10 Networks during the 4th quarter valued at approximately $50,000. Harvest Fund Management Co. Ltd bought a new position in shares of A10 Networks during the 4th quarter valued at approximately $161,000. Freestone Grove Partners LP bought a new position in A10 Networks during the fourth quarter valued at $197,000. Sciencast Management LP bought a new position in A10 Networks during the fourth quarter valued at $198,000. Finally, iSAM Funds UK Ltd bought a new position in A10 Networks during the fourth quarter valued at $206,000. 98.61% of the stock is owned by institutional investors.

A10 Networks Trading Up 1.9%

Shares of ATEN stock traded up $0.38 on Friday, reaching $20.14. 526,402 shares of the company's stock were exchanged, compared to its average volume of 816,456. A10 Networks, Inc. has a 52 week low of $12.27 and a 52 week high of $21.90. The company has a current ratio of 4.05, a quick ratio of 3.87 and a debt-to-equity ratio of 1.11. The stock has a market capitalization of $1.45 billion, a PE ratio of 30.05, a P/E/G ratio of 4.77 and a beta of 1.39. The company's fifty day simple moving average is $17.79 and its 200 day simple moving average is $18.18.

A10 Networks (NYSE:ATEN - Get Free Report) last released its earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share for the quarter, topping the consensus estimate of $0.19 by $0.01. A10 Networks had a return on equity of 24.23% and a net margin of 18.70%. The business had revenue of $66.14 million during the quarter, compared to the consensus estimate of $63.63 million. During the same period last year, the company earned $0.17 earnings per share. The business's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, 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 issued a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $0.24 dividend on an annualized basis and a yield of 1.19%. A10 Networks's payout ratio is 35.82%.

Insiders Place Their Bets

In other news, General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks stock in a transaction that occurred 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 sale, the general counsel owned 61,007 shares of the company's stock, valued at approximately $1,052,980.82. The trade was a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 1.15% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ATEN shares. Craig Hallum upgraded shares of A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective for the company in a research report on Friday, May 2nd. 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. Weiss Ratings restated a "hold (c)" rating on shares of A10 Networks in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft initiated coverage on shares of A10 Networks in a report on Friday, June 27th. They issued a "buy" rating and a $22.00 target price for the company. Finally, Wall Street Zen lowered shares of A10 Networks from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $22.00.

About A10 Networks

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.