Strs Ohio Takes $632,000 Position in A10 Networks, Inc. $ATEN

Key Points

• Strs Ohio acquired 38,700 shares of A10 Networks, Inc. valued at approximately $632,000, increasing its stake to 0.05% of the company.
• Several hedge funds, including Federated Hermes and CWM LLC, have increased their positions in A10 Networks, indicating strong institutional interest in the stock.
• A10 Networks reported a quarterly earnings per share (EPS) of $0.21, exceeding analysts' expectations, and announced a quarterly dividend of $0.06 per share.

Strs Ohio purchased 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 and Exchange Commission. The institutional investor purchased 38,700 shares of the communications equipment provider's stock, valued at approximately $632,000. Strs Ohio owned approximately 0.05% of A10 Networks at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its position in shares of A10 Networks by 3.0% during the 1st quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider's stock worth $6,806,000 after buying an additional 12,282 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of A10 Networks during the 1st quarter worth $295,000. Squarepoint Ops LLC grew its position in shares of A10 Networks by 363.8% during the 4th quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider's stock worth $2,206,000 after buying an additional 94,032 shares in the last quarter. GAMMA Investing LLC grew its position in shares of A10 Networks by 1,938.5% during the 1st quarter. GAMMA Investing LLC now owns 50,066 shares of the communications equipment provider's stock worth $818,000 after buying an additional 47,610 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its position in shares of A10 Networks by 165.5% during the 1st quarter. Canada Pension Plan Investment Board now owns 109,400 shares of the communications equipment provider's stock worth $1,788,000 after buying an additional 68,200 shares in the last quarter. Institutional investors own 98.61% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of A10 Networks in a research report on Thursday, September 18th. Deutsche Bank Aktiengesellschaft assumed coverage on A10 Networks in a research report on Friday, June 27th. They set a "buy" rating and a $22.00 price objective on the stock. Mizuho assumed coverage on A10 Networks in a research report on Monday, July 14th. They set a "neutral" rating on the stock. 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 report on Wednesday, August 6th. Finally, Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Four analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, A10 Networks has an average rating of "Moderate Buy" and a consensus price target of $22.00.

Insider Buying and Selling

In other news, CFO Brian Becker sold 6,400 shares of the business'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 completion of the sale, the chief financial officer directly owned 77,599 shares in the company, valued at $1,399,109.97. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.15% of the company's stock.

A10 Networks Stock Performance

A10 Networks stock traded down $0.06 during mid-day trading on Tuesday, hitting $18.27. The company had a trading volume of 138,382 shares, compared to its average volume of 930,964. 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, Inc. has a 12-month low of $13.68 and a 12-month high of $21.90. The company's fifty day moving average is $17.85 and its 200-day moving average is $17.55. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 26.85 and a beta of 1.37.

A10 Networks (NYSE:ATEN - Get Free Report) last released its quarterly earnings data 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 business had revenue of $69.38 million for the quarter, compared to analyst estimates of $65.99 million. During the same quarter in the prior year, the firm posted $0.18 EPS. The business's quarterly revenue was up 15.5% compared to the same quarter last year. Equities research analysts predict 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 Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a $0.06 dividend. This represents a $0.24 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, August 15th. A10 Networks's dividend payout ratio is currently 35.29%.

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.