Short Interest in A10 Networks, Inc. (NYSE:ATEN) Increases By 18.2%

A10 Networks, Inc. (NYSE:ATEN - Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totalling 6,440,000 shares, a growth of 18.2% from the April 30th total of 5,450,000 shares. Based on an average daily volume of 1,250,000 shares, the days-to-cover ratio is presently 5.2 days. Currently, 9.2% of the company's stock are sold short.

A10 Networks Trading Down 1.2%

ATEN stock traded down $0.22 during mid-day trading on Wednesday, hitting $17.57. 730,401 shares of the company were exchanged, compared to its average volume of 867,202. The firm has a fifty day simple moving average of $16.55 and a 200 day simple moving average of $18.04. The company has a market capitalization of $1.27 billion, a PE ratio of 26.22 and a beta of 1.37. A10 Networks has a twelve month low of $12.27 and a twelve month high of $21.90.

A10 Networks (NYSE:ATEN - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.01. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. The business had revenue of $66.14 million during the quarter, compared to the consensus estimate of $63.63 million. During the same period last year, the firm earned $0.17 earnings per share. The company's revenue for the quarter was up 8.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that A10 Networks will post 0.69 earnings per share for the current year.

A10 Networks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 2nd. Shareholders of record on Thursday, May 15th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.37%. The ex-dividend date of this dividend was Thursday, May 15th. A10 Networks's dividend payout ratio is presently 35.82%.

Insider Buying and Selling at A10 Networks

In other A10 Networks news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total value of $43,150.00. Following the completion of the sale, the general counsel now owns 61,007 shares of the company's stock, valued at $1,052,980.82. This trade represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.15% of the stock is currently owned by corporate insiders.

Institutional Trading of A10 Networks

Institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of A10 Networks by 0.5% in the 1st quarter. Vanguard Group Inc. now owns 7,394,304 shares of the communications equipment provider's stock valued at $120,823,000 after buying an additional 34,634 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in A10 Networks by 8.2% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 2,682,442 shares of the communications equipment provider's stock worth $43,840,000 after acquiring an additional 202,453 shares during the last quarter. Penserra Capital Management LLC boosted its stake in A10 Networks by 29.9% in the first quarter. Penserra Capital Management LLC now owns 2,539,197 shares of the communications equipment provider's stock valued at $41,490,000 after acquiring an additional 584,116 shares during the period. Dimensional Fund Advisors LP grew its holdings in shares of A10 Networks by 1.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,820,512 shares of the communications equipment provider's stock valued at $33,498,000 after purchasing an additional 31,697 shares during the last quarter. Finally, Geode Capital Management LLC grew its holdings in shares of A10 Networks by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 1,677,206 shares of the communications equipment provider's stock valued at $30,868,000 after purchasing an additional 14,764 shares during the last quarter. 98.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on ATEN shares. Weiss Ratings reiterated a "hold (c)" rating on shares of A10 Networks in a report on Saturday. Craig Hallum upgraded A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price target on the stock in a research note on Friday, May 2nd. Wall Street Zen downgraded A10 Networks from a "buy" rating to a "hold" rating in a report on Thursday, May 8th. Raymond James assumed coverage on A10 Networks in a research note on Wednesday, April 23rd. They set a "market perform" rating for the company. Finally, BWS Financial reaffirmed a "buy" rating and issued a $24.00 target price on shares of A10 Networks in a research report on Friday, May 2nd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, 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.

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