Petrus Trust Company LTA Acquires New Stake 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 acquired a new position in shares of A10 Networks, Inc. (NYSE:ATEN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 20,201 shares of the communications equipment provider's stock, valued at approximately $330,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in A10 Networks by 0.5% during the first quarter. Vanguard Group Inc. now owns 7,394,304 shares of the communications equipment provider's stock worth $120,823,000 after purchasing an additional 34,634 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in A10 Networks by 8.2% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,682,442 shares of the communications equipment provider's stock worth $43,840,000 after purchasing an additional 202,453 shares in the last quarter. Penserra Capital Management LLC raised its holdings in A10 Networks by 29.9% during the first quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock worth $41,490,000 after purchasing an additional 584,116 shares in the last quarter. Boston Trust Walden Corp acquired a new stake in A10 Networks during the first quarter worth approximately $26,894,000. Finally, Wellington Management Group LLP raised its holdings in A10 Networks by 390.9% during the first quarter. Wellington Management Group LLP now owns 1,130,119 shares of the communications equipment provider's stock worth $18,466,000 after purchasing an additional 899,919 shares in the last quarter. Institutional investors and hedge funds own 98.61% of the company's stock.

Insiders Place Their Bets

In related news, CFO Brian Becker sold 6,400 shares of A10 Networks stock in a transaction on Wednesday, August 13th. The shares were 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 in the company, valued at $1,399,109.97. This trade represents a 7.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.15% of the stock is currently owned by company insiders.

A10 Networks Stock Performance

Shares of A10 Networks stock traded down $0.44 during trading on Friday, reaching $17.43. The company's stock had a trading volume of 499,322 shares, compared to its average volume of 594,283. The company has a 50-day moving average price of $17.99 and a two-hundred day moving average price of $17.65. The firm has a market cap of $1.26 billion, a PE ratio of 25.64 and a beta of 1.37. A10 Networks, Inc. has a fifty-two week low of $13.30 and a fifty-two week high of $21.90. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07.

A10 Networks (NYSE:ATEN - Get Free Report) last announced its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, beating analysts' consensus estimates of $0.20 by $0.01. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. 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 company posted $0.18 EPS. The company's quarterly revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current year.

A10 Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date was Friday, August 15th. A10 Networks's dividend payout ratio (DPR) is 35.29%.

Analyst Ratings Changes

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

A10 Networks 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.