Legal & General Group Plc Makes New $7.08 Million Investment in A10 Networks, Inc. $ATEN

Key Points

• Legal & General Group Plc acquired 189,446 A10 Networks shares worth approximately $7.08 million, representing about 0.26% of the company. Institutional investors collectively own 98.61% of ATEN.
• Analysts maintain a consensus “Hold” rating with an average price target of $30.88, while individual targets range from $28 to $45.
• A10 Networks exceeded quarterly expectations, reporting $0.25 EPS and $80.14 million in revenue, with revenue up 15.5% year over year. The company also declared a quarterly dividend of $0.06 per share, or a 1.0% annualized yield.

Legal & General Group Plc bought a new stake in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund bought 189,446 shares of the communications equipment provider's stock, valued at approximately $7,078,000. Legal & General Group Plc owned about 0.26% of A10 Networks as of its most recent filing with the SEC.

A number of other large investors also recently made changes to their positions in the stock. Aster Capital Management DIFC Ltd acquired a new stake in shares of A10 Networks during the fourth quarter worth $26,000. Northwestern Mutual Wealth Management Co. acquired a new position in A10 Networks in the second quarter valued at about $27,000. Farther Finance Advisors LLC boosted its holdings in A10 Networks by 92.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,255 shares of the communications equipment provider's stock worth $40,000 after buying an additional 1,083 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in A10 Networks by 4,621.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,408 shares of the communications equipment provider's stock worth $43,000 after buying an additional 2,357 shares during the last quarter. Finally, Clearstead Advisors LLC grew its position in shares of A10 Networks by 2,829.4% during the 4th quarter. Clearstead Advisors LLC now owns 2,490 shares of the communications equipment provider's stock worth $44,000 after buying an additional 2,405 shares during the period. Institutional investors and hedge funds own 98.61% of the company's stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on ATEN shares. Deutsche Bank Aktiengesellschaft assumed coverage on shares of A10 Networks in a research report on Monday. They issued a "hold" rating and a $28.00 price target on the stock. Mizuho upped their target price on shares of A10 Networks from $30.00 to $34.00 and gave the company a "neutral" rating in a research note on Wednesday, July 15th. Zacks Research cut shares of A10 Networks from a "strong-buy" rating to a "hold" rating in a research report on Monday, June 29th. Piper Sandler set a $45.00 price objective on shares of A10 Networks in a research report on Tuesday, June 16th. Finally, Weiss Ratings raised A10 Networks from a "hold (c)" rating to a "hold (c+)" rating in a research note on Wednesday, June 24th. Two research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $30.88.

Insider Activity

In other A10 Networks news, General Counsel Robert Scott Weber sold 14,086 shares of the company's stock in a transaction that occurred on Tuesday, August 11th. The stock was sold at an average price of $27.86, for a total transaction of $392,435.96. Following the completion of the transaction, the general counsel owned 50,586 shares of the company's stock, valued at $1,409,325.96. This represents a 21.78% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dana Elizabeth Wolf sold 2,652 shares of the firm's stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $25.65, for a total transaction of $68,023.80. Following the transaction, the director directly owned 57,409 shares of the company's stock, valued at $1,472,540.85. This represents a 4.42% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.21% of the company's stock.

A10 Networks Stock Performance

Shares of ATEN opened at $24.80 on Thursday. A10 Networks, Inc. has a twelve month low of $16.52 and a twelve month high of $38.49. The firm's 50 day moving average price is $31.43 and its two-hundred day moving average price is $27.82. The firm has a market cap of $1.80 billion, a P/E ratio of 41.33 and a beta of 1.13.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its quarterly earnings data on Wednesday, August 5th. The communications equipment provider reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.01. A10 Networks had a net margin of 13.85% and a return on equity of 23.63%. The company had revenue of $80.14 million during the quarter, compared to the consensus estimate of $77.28 million. During the same quarter in the prior year, the firm earned $0.21 earnings per share. The firm's revenue was up 15.5% compared to the same quarter last year. A10 Networks has set its FY 2026 guidance at 0.650-0.661 EPS. On average, sell-side analysts anticipate that A10 Networks, Inc. will post 0.81 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 1st. Shareholders of record on Monday, August 17th were paid a $0.06 dividend. The ex-dividend date of this dividend was Monday, August 17th. This represents a $0.24 annualized dividend and a dividend yield of 1.0%. A10 Networks's dividend payout ratio (DPR) is currently 40.00%.

A10 Networks Company 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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