Wellington Management Group LLP Buys 899,919 Shares of A10 Networks, Inc. $ATEN

Key Points

• Wellington Management Group LLP significantly increased its holdings in A10 Networks by acquiring 899,919 shares, growing its total ownership to 1,130,119 shares, valued at approximately $18.47 million.
• A10 Networks reported a 15.5% year-over-year increase in revenue, with earnings per share (EPS) of $0.21, surpassing analysts' expectations.
• The company recently announced a quarterly dividend of $0.06 per share, equating to an annual yield of 1.4% and a payout ratio of 35.29%.

Wellington Management Group LLP lifted its stake in A10 Networks, Inc. (NYSE:ATEN - Free Report) by 390.9% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,130,119 shares of the communications equipment provider's stock after acquiring an additional 899,919 shares during the quarter. Wellington Management Group LLP owned approximately 1.57% of A10 Networks worth $18,466,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Aptus Capital Advisors LLC acquired a new stake in shares of A10 Networks in the first quarter valued at about $4,819,000. FCG Investment Co acquired a new stake in shares of A10 Networks in the first quarter valued at about $1,150,000. American Century Companies Inc. increased its position in shares of A10 Networks by 21.7% in the first quarter. American Century Companies Inc. now owns 216,241 shares of the communications equipment provider's stock valued at $3,533,000 after acquiring an additional 38,539 shares during the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in shares of A10 Networks in the first quarter valued at about $55,000. Finally, Informed Momentum Co LLC acquired a new stake in shares of A10 Networks in the first quarter valued at about $3,314,000. Institutional investors and hedge funds own 98.61% of the company's stock.

Insider Activity at A10 Networks

In other news, CFO Brian Becker sold 6,400 shares of the company'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 transaction, the chief financial officer owned 77,599 shares of the company's stock, valued at approximately $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 can be accessed through this link. Insiders own 1.15% of the company's stock.

A10 Networks Stock Performance

Shares of A10 Networks stock traded up $0.15 on Friday, hitting $17.74. The stock had a trading volume of 1,171,732 shares, compared to its average volume of 803,513. A10 Networks, Inc. has a twelve month low of $12.72 and a twelve month high of $21.90. The business's 50 day moving average is $18.32 and its two-hundred day moving average is $17.88. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 26.08 and a beta of 1.37.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, beating 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 company had revenue of $69.38 million for the quarter, compared to the consensus estimate of $65.99 million. During the same quarter in the prior year, the business earned $0.18 earnings per share. The firm's revenue for the quarter was up 15.5% on a year-over-year basis. Analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current year.

A10 Networks Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 2nd. Stockholders of record on Friday, August 15th will be given a $0.06 dividend. The ex-dividend date of this dividend is Friday, August 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.4%. A10 Networks's dividend payout ratio is presently 35.29%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on ATEN. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of A10 Networks in a research report on Saturday, August 16th. 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 research report on Wednesday, August 6th. Mizuho initiated coverage on A10 Networks in a research report on Monday, July 14th. They set a "neutral" rating on the stock. Deutsche Bank Aktiengesellschaft initiated coverage on A10 Networks in a research report on Friday, June 27th. They set a "buy" rating and a $22.00 price target on the stock. Finally, Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Four equities research 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

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.