Optimize Financial Inc Buys Shares of 23,700 A10 Networks, Inc. $ATEN

Key Points

• Optimize Financial Inc has acquired 23,700 shares of A10 Networks, Inc., valued at approximately $387,000, indicating growing institutional interest in the company.
• A10 Networks reported a quarterly earnings per share of $0.21, exceeding analyst expectations, with a revenue increase of 15.5% year-over-year.
• The company recently announced a quarterly dividend of $0.06 per share, reflecting a dividend yield of 1.4% and a payout ratio of 35.29%.

Optimize Financial Inc purchased a new position in A10 Networks, Inc. (NYSE:ATEN - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 23,700 shares of the communications equipment provider's stock, valued at approximately $387,000.

A number of other hedge funds have also recently added to or reduced their stakes in ATEN. Boston Trust Walden Corp acquired a new stake in A10 Networks in the 1st quarter worth about $26,894,000. Wellington Management Group LLP boosted its stake in A10 Networks by 390.9% in the 1st quarter. Wellington Management Group LLP now owns 1,130,119 shares of the communications equipment provider's stock worth $18,466,000 after buying an additional 899,919 shares during the last quarter. Invesco Ltd. boosted its stake in A10 Networks by 184.7% in the 1st quarter. Invesco Ltd. now owns 1,045,406 shares of the communications equipment provider's stock worth $17,082,000 after buying an additional 678,207 shares during the last quarter. Penserra Capital Management LLC boosted its stake in A10 Networks by 29.9% in the 1st quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock worth $41,490,000 after buying an additional 584,116 shares during the last quarter. Finally, Aptus Capital Advisors LLC acquired a new position in shares of A10 Networks in the 1st quarter valued at about $4,819,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the company'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 value of $115,392.00. Following the transaction, the chief financial officer directly owned 77,599 shares of the company's stock, valued at $1,399,109.97. This represents a 7.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 1.15% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

A10 Networks Stock Down 2.4%

A10 Networks stock traded down $0.44 during midday trading on Friday, hitting $17.43. 499,322 shares of the company were exchanged, compared to its average volume of 599,879. The company's fifty day moving average price is $17.99 and its 200-day moving average price is $17.68. The company has a market cap of $1.26 billion, a PE ratio of 25.64 and a beta of 1.37. 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 fifty-two week low of $13.30 and a fifty-two week high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.20 by $0.01. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The firm had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. During the same period in the previous year, the company posted $0.18 EPS. A10 Networks's revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts predict 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. Shareholders of record on Friday, August 15th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Friday, August 15th. A10 Networks's dividend payout ratio is presently 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.