Petrus Trust Company LTA Acquires New Position in A10 Networks, Inc. $ATEN

Key Points

• Petrus Trust Company LTA has acquired a new stake in A10 Networks, Inc., purchasing 20,201 shares valued at approximately $330,000 during the first quarter.
• A10 Networks has received a mix of ratings from analysts, with four giving it a buy rating and a consensus price target of $22.00.
• The company recently announced a quarterly dividend of $0.06 per share, yielding 1.4%, indicating a commitment to returning value to shareholders.

Petrus Trust Company LTA purchased a new stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 20,201 shares of the communications equipment provider's stock, valued at approximately $330,000.

Several other institutional investors and hedge funds have also recently modified their holdings of ATEN. Vestcor Inc purchased a new position in shares of A10 Networks in the 1st quarter valued at about $44,000. Sunbelt Securities Inc. purchased a new position in shares of A10 Networks in the 4th quarter valued at about $50,000. Caitong International Asset Management Co. Ltd purchased a new position in shares of A10 Networks in the 1st quarter valued at about $55,000. CWM LLC increased its stake in shares of A10 Networks by 45.6% in the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock valued at $76,000 after purchasing an additional 1,454 shares in the last quarter. Finally, DRW Securities LLC purchased a new position in shares of A10 Networks in the 1st quarter valued at about $188,000. Hedge funds and other institutional investors own 98.61% of the company's stock.

A10 Networks Price Performance

Shares of A10 Networks stock traded down $0.44 on Friday, hitting $17.43. 499,322 shares of the company were exchanged, compared to its average volume of 934,243. The stock has a market capitalization of $1.26 billion, a price-to-earnings ratio of 25.64 and a beta of 1.37. The company has a 50-day moving average price of $18.04 and a 200 day moving average price of $17.70. A10 Networks, Inc. has a 1-year low of $13.30 and a 1-year high of $21.90. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share 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 business had revenue of $69.38 million for the quarter, compared to analysts' expectations of $65.99 million. During the same period in the previous year, the firm posted $0.18 EPS. The business's revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, sell-side analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks's dividend payout ratio (DPR) is currently 35.29%.

Insider Buying and Selling at A10 Networks

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

Analyst Ratings Changes

ATEN has been the subject of several research reports. Wall Street Zen upgraded A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. BTIG Research upgraded A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price objective for the company in a research note on Wednesday, August 6th. Weiss Ratings reiterated a "hold (c+)" rating on shares of A10 Networks in a research note on Wednesday, September 3rd. Mizuho initiated coverage on A10 Networks in a research note on Monday, July 14th. They set a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on A10 Networks in a research note on Friday, June 27th. They set a "buy" rating and a $22.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to MarketBeat, A10 Networks has an average 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.