A10 Networks (NYSE:ATEN) Sets New 1-Year High – Here’s What Happened

Shares of A10 Networks, Inc. (NYSE:ATEN) reached a new 52-week high during trading on Thursday . The stock traded as high as $19.44 and last traded at $19.42, with a volume of 258258 shares changing hands. The stock had previously closed at $19.03.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. BWS Financial upped their price objective on A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Craig Hallum cut A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a report on Friday, November 8th. Finally, StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, October 16th.

A10 Networks Stock Performance

The stock’s 50-day moving average is $18.05 and its two-hundred day moving average is $15.38. The stock has a market cap of $1.44 billion, a PE ratio of 29.02 and a beta of 1.14.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 EPS for the quarter, topping the consensus estimate of $0.19 by $0.02. The business had revenue of $66.72 million during the quarter, compared to analyst estimates of $63.78 million. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The company’s quarterly revenue was up 15.5% on a year-over-year basis. During the same period last year, the business posted $0.12 earnings per share. Analysts forecast that A10 Networks, Inc. will post 0.6 EPS for the current year.

A10 Networks Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were paid a dividend of $0.06 per share. The ex-dividend date was Monday, November 18th. This represents a $0.24 dividend on an annualized basis and a yield of 1.23%. A10 Networks’s dividend payout ratio (DPR) is presently 35.82%.

Insider Activity

In related news, EVP Karen S. Thomas sold 6,162 shares of the business’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following the completion of the transaction, the executive vice president now directly owns 23,799 shares of the company’s stock, valued at $397,443.30. The trade was a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 5.81% of the company’s stock.

Hedge Funds Weigh In On A10 Networks

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Canada Pension Plan Investment Board purchased a new stake in shares of A10 Networks during the second quarter worth approximately $29,000. MassMutual Private Wealth & Trust FSB grew its holdings in A10 Networks by 3,389.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,059 shares of the communications equipment provider’s stock worth $38,000 after acquiring an additional 2,000 shares in the last quarter. Copeland Capital Management LLC purchased a new stake in shares of A10 Networks in the 3rd quarter valued at approximately $43,000. GAMMA Investing LLC raised its holdings in shares of A10 Networks by 43.5% in the 4th quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider’s stock valued at $45,000 after purchasing an additional 744 shares in the last quarter. Finally, Quarry LP purchased a new stake in shares of A10 Networks during the 2nd quarter worth $47,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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.