A10 Networks, Inc. (NYSE:ATEN) Sees Large Drop in Short Interest

A10 Networks, Inc. (NYSE:ATEN) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a decrease of 8.9% from the October 15th total of 1,350,000 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average trading volume of 553,800 shares, the days-to-cover ratio is presently 2.2 days.

A10 Networks Stock Down 0.2 %

Shares of NYSE:ATEN traded down $0.03 during midday trading on Monday, reaching $16.35. The company’s stock had a trading volume of 675,353 shares, compared to its average volume of 717,549. A10 Networks has a 12-month low of $11.92 and a 12-month high of $16.92. The firm has a market capitalization of $1.21 billion, a P/E ratio of 24.54 and a beta of 1.11. The firm has a 50 day moving average of $14.54 and a 200-day moving average of $14.20.

A10 Networks (NYSE:ATEN) last announced its earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The business had revenue of $66.72 million for the quarter, compared to analysts’ expectations of $63.78 million. During the same period last year, the firm posted $0.12 earnings per share. The business’s revenue for the quarter was up 15.5% on a year-over-year basis. On average, research analysts predict that A10 Networks will post 0.65 EPS for the current year.

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, November 18th. A10 Networks’s dividend payout ratio (DPR) is 35.82%.

Analyst Upgrades and Downgrades

ATEN has been the topic of several recent analyst reports. Craig Hallum cut shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 target price on the stock. in a research report on Friday, November 8th. StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Finally, BWS Financial lifted their price target on shares of A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th.

Insider Activity

In other news, EVP Karen S. Thomas sold 6,162 shares of the company’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the sale, the executive vice president now directly owns 23,799 shares of the company’s stock, valued at approximately $397,443.30. This represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 5.81% of the company’s stock.

Institutional Investors Weigh In On A10 Networks

Several hedge funds and other institutional investors have recently modified their holdings of the business. Canada Pension Plan Investment Board purchased a new position in A10 Networks during the 2nd quarter worth $29,000. Copeland Capital Management LLC purchased a new position in shares of A10 Networks during the 3rd quarter valued at about $43,000. Quarry LP purchased a new stake in shares of A10 Networks in the second quarter worth about $47,000. Quantbot Technologies LP grew its stake in shares of A10 Networks by 95.4% during the 3rd quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock worth $82,000 after purchasing an additional 2,762 shares during the period. Finally, nVerses Capital LLC purchased a new position in A10 Networks in the second quarter valued at $105,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

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.