A10 Networks (NYSE:ATEN) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Shares of A10 Networks, Inc. (NYSE:ATEN - Get Free Report) passed above its 200-day moving average during trading on Monday. The stock has a 200-day moving average of $26.64 and traded as high as $27.19. A10 Networks shares last traded at $26.9460, with a volume of 1,854,393 shares trading hands.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a report on Monday, August 31st. They issued a "hold" rating and a $28.00 target price for the company. Mizuho decreased their target price on A10 Networks from $34.00 to $30.00 and set a "neutral" rating for the company in a research report on Thursday, October 15th. BTIG Research reiterated a "buy" rating and issued a $37.00 price target on shares of A10 Networks in a research note on Thursday, August 6th. Weiss Ratings cut shares of A10 Networks from a "hold (c+)" rating to a "hold (c)" rating in a report on Thursday, September 17th. Finally, BWS Financial restated a "buy" rating and set a $45.00 price objective on shares of A10 Networks in a research report on Friday, August 14th. Two analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, A10 Networks presently has an average rating of "Hold" and an average target price of $30.38.

A10 Networks Trading Up 8.8%

The company's 50 day moving average price is $25.94 and its two-hundred day moving average price is $26.64. The firm has a market cap of $1.96 billion, a PE ratio of 40.83 and a beta of 0.99.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its quarterly earnings data on Thursday, November 5th. The communications equipment provider reported $0.31 EPS for the quarter, topping the consensus estimate of $0.27 by $0.04. A10 Networks had a return on equity of 23.63% and a net margin of 13.85%. The firm had revenue of $91.55 million during the quarter, compared to analyst estimates of $83.88 million. During the same period in the prior year, the business posted $0.23 EPS. A10 Networks's revenue was up 22.6% on a year-over-year basis. Equities research analysts expect that A10 Networks, Inc. will post 0.81 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 1st. Stockholders of record on Monday, November 16th will be paid a $0.06 dividend. The ex-dividend date of this dividend is Monday, November 16th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.9%. A10 Networks's dividend payout ratio is 36.36%.

Insider Transactions at A10 Networks

In other news, Director Dana Wolf sold 2,652 shares of the business's stock in a transaction dated Tuesday, August 25th. The stock was sold at an average price of $25.65, for a total value of $68,023.80. Following the transaction, the director directly owned 57,409 shares in the company, valued at $1,472,540.85. The trade was a 4.42% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders own 1.21% of the company's stock.

Institutional Trading of A10 Networks

A number of institutional investors and hedge funds have recently bought and sold shares of ATEN. Transamerica Financial Advisors LLC bought a new stake in A10 Networks in the 2nd quarter worth approximately $26,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of A10 Networks in the 2nd quarter valued at approximately $27,000. SBI Securities Co. Ltd. lifted its stake in shares of A10 Networks by 83.5% in the 2nd quarter. SBI Securities Co. Ltd. now owns 1,167 shares of the communications equipment provider's stock valued at $44,000 after purchasing an additional 531 shares during the last quarter. State of Wyoming purchased a new position in A10 Networks during the second quarter worth $57,000. Finally, Sterling Capital Management LLC boosted its stake in shares of A10 Networks by 846.3% during the 3rd quarter. Sterling Capital Management LLC now owns 2,413 shares of the communications equipment provider's stock worth $65,000 after purchasing an additional 2,158 shares during the period. 98.61% of the stock is currently owned by institutional investors.

About A10 Networks

A10 Networks, Inc provides application delivery and cybersecurity solutions for enterprises, service providers and cloud providers. Its products are designed to help organizations maintain the availability, performance and security of applications and network services.

The company's portfolio includes application delivery controllers, distributed denial-of-service (DDoS) protection, network firewalls, and tools for encrypted-traffic visibility and management. These solutions are offered as physical appliances, software and cloud-based services.

Founded in 2004 and headquartered in San Jose, California, A10 Networks serves customers around the world.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.