Voya Investment Management LLC Reduces Position in A10 Networks, Inc. $ATEN

Key Points

• Voya Investment Management LLC reduced its stake in A10 Networks, Inc. by 11.2%, owning approximately 0.38% of the company valued at $4.48 million after selling 34,684 shares in the first quarter.
• Recent analyst reports show a consensus rating of "Moderate Buy" for A10 Networks with an average target price of $22.00, as several firms upgraded their ratings on the stock.
• A10 Networks reported earnings of $0.21 per share for the last quarter, surpassing analysts' expectations, alongside a 15.5% year-over-year revenue growth.

Voya Investment Management LLC reduced its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 11.2% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 274,194 shares of the communications equipment provider's stock after selling 34,684 shares during the quarter. Voya Investment Management LLC owned approximately 0.38% of A10 Networks worth $4,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Vestcor Inc bought a new position in shares of A10 Networks during the 1st quarter valued at approximately $44,000. Sunbelt Securities Inc. purchased a new position in A10 Networks during the fourth quarter valued at approximately $50,000. Caitong International Asset Management Co. Ltd purchased a new position in A10 Networks during the first quarter valued at approximately $55,000. CWM LLC lifted its holdings in A10 Networks by 45.6% during the first 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 bought a new stake in shares of A10 Networks during the 1st quarter valued at $188,000. Hedge funds and other institutional investors own 98.61% of the company's stock.

Wall Street Analyst Weigh In

ATEN has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of A10 Networks in a research report on Friday, June 27th. They set a "buy" rating and a $22.00 price objective on the stock. Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a research note on Sunday, August 10th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of A10 Networks in a research note on Thursday. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 price target on the stock in a report on Wednesday, August 6th. Finally, Mizuho assumed coverage on A10 Networks in a report on Monday, July 14th. They issued a "neutral" rating on the stock. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, A10 Networks presently has a consensus rating of "Moderate Buy" and an average target price of $22.00.

A10 Networks Trading Up 0.6%

Shares of NYSE:ATEN opened at $18.17 on Friday. The business's 50-day moving average is $17.84 and its 200 day moving average is $17.59. A10 Networks, Inc. has a 1 year low of $13.68 and a 1 year high of $21.90. The firm has a market capitalization of $1.31 billion, a P/E ratio of 26.72 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 (NYSE:ATEN - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.20 by $0.01. The business had revenue of $69.38 million during the quarter, compared to analysts' expectations of $65.99 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The business's quarterly revenue was up 15.5% on a year-over-year basis. During the same quarter last year, the company posted $0.18 earnings per share. On average, research analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given a dividend of $0.06 per share. 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 (DPR) is currently 35.29%.

Insiders Place Their Bets

In other news, CFO Brian Becker sold 6,400 shares of the firm's stock in a transaction that occurred on Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total transaction of $115,392.00. Following the sale, the chief financial officer owned 77,599 shares of the company's stock, valued at $1,399,109.97. This trade represents a 7.62% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 1.15% of the company's stock.

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.

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