Victory Capital Management Inc. Purchases 213,592 Shares of A10 Networks, Inc. (NYSE:ATEN)

Key Points

• Victory Capital Management Inc. significantly increased its stake in A10 Networks, acquiring 213,592 shares for a total of 385,332 shares, now valued at approximately $6.3 million.
• Several hedge funds have also made new investments in A10 Networks, with institutional investors controlling 98.61% of the company's stock.
• A10 Networks reported a revenue increase of 8.9% year-over-year and has announced a quarterly dividend of $0.06 per share, indicating a dividend yield of 1.29%.

Victory Capital Management Inc. boosted its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 124.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 385,332 shares of the communications equipment provider's stock after buying an additional 213,592 shares during the period. Victory Capital Management Inc. owned 0.52% of A10 Networks worth $6,296,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in ATEN. Sunbelt Securities Inc. acquired a new position in shares of A10 Networks during the fourth quarter valued at $50,000. CWM LLC boosted its position 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 during the period. Freestone Grove Partners LP acquired a new position in shares of A10 Networks in the 4th quarter valued at $197,000. iSAM Funds UK Ltd acquired a new position in shares of A10 Networks in the 4th quarter valued at $206,000. Finally, Polymer Capital Management US LLC acquired a new stake in A10 Networks during the 4th quarter worth about $210,000. 98.61% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction dated Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the transaction, the general counsel directly owned 61,007 shares in the company, valued at approximately $1,052,980.82. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.15% of the company's stock.

Wall Street Analyst Weigh In

ATEN has been the subject of a number of research reports. Raymond James Financial initiated coverage on A10 Networks in a research report on Wednesday, April 23rd. They set a "market perform" rating for the company. BWS Financial reissued a "buy" rating and issued a $24.00 price objective on shares of A10 Networks in a research note on Friday, May 2nd. Weiss Ratings reissued a "hold (c)" rating on shares of A10 Networks in a research note on Thursday, July 17th. Craig Hallum raised A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a research note on Friday, May 2nd. Finally, Wall Street Zen downgraded A10 Networks from a "buy" rating to a "hold" rating in a research note on Thursday, May 8th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $22.00.

A10 Networks Price Performance

A10 Networks stock traded down $0.16 on Friday, reaching $18.57. The company's stock had a trading volume of 420,275 shares, compared to its average volume of 897,567. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.87 and a current ratio of 4.05. The company has a market cap of $1.34 billion, a price-to-earnings ratio of 27.71, a PEG ratio of 4.40 and a beta of 1.39. The business's fifty day moving average price is $18.30 and its 200 day moving average price is $18.21. A10 Networks, Inc. has a twelve month low of $12.27 and a twelve month high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.01. A10 Networks had a return on equity of 24.23% and a net margin of 18.70%. The business had revenue of $66.14 million for the quarter, compared to analyst estimates of $63.63 million. During the same quarter in the prior year, the firm posted $0.17 earnings per share. The firm's revenue for the quarter was up 8.9% compared to the same quarter last year. Equities analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Investors of record on Thursday, May 15th were issued a dividend of $0.06 per share. The ex-dividend date was Thursday, May 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.29%. A10 Networks's payout ratio is presently 35.82%.

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.