Russell Investments Group Ltd. Purchases 271,303 Shares of A10 Networks, Inc. (NYSE:ATEN)

Russell Investments Group Ltd. raised its position in A10 Networks, Inc. (NYSE:ATEN) by 93.6% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 561,155 shares of the communications equipment provider’s stock after acquiring an additional 271,303 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.76% of A10 Networks worth $7,390,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ATEN. Meeder Asset Management Inc. purchased a new stake in A10 Networks during the fourth quarter valued at approximately $163,000. Harbor Capital Advisors Inc. raised its holdings in A10 Networks by 6.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 816 shares during the period. Quantbot Technologies LP bought a new position in A10 Networks in the 3rd quarter worth $181,000. Teza Capital Management LLC bought a new stake in A10 Networks during the third quarter valued at about $227,000. Finally, Diversified Trust Co purchased a new stake in A10 Networks in the fourth quarter worth about $228,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Dhrupad Trivedi sold 60,606 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total transaction of $804,241.62. Following the completion of the transaction, the chief executive officer now directly owns 495,814 shares of the company’s stock, valued at $6,579,451.78. The sale was disclosed in a filing with the SEC, which is available through this link. In other A10 Networks news, CFO Brian Becker sold 15,000 shares of A10 Networks stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $12.93, for a total value of $193,950.00. Following the completion of the transaction, the chief financial officer now directly owns 34,252 shares of the company’s stock, valued at approximately $442,878.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Dhrupad Trivedi sold 60,606 shares of the company’s stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total transaction of $804,241.62. Following the sale, the chief executive officer now owns 495,814 shares in the company, valued at $6,579,451.78. The disclosure for this sale can be found here. Company insiders own 5.82% of the company’s stock.

A10 Networks Trading Down 0.3 %

NYSE:ATEN opened at $15.51 on Wednesday. The stock has a 50-day moving average price of $13.72 and a 200 day moving average price of $13.07. The stock has a market capitalization of $1.16 billion, a P/E ratio of 25.43 and a beta of 1.13. A10 Networks, Inc. has a 12-month low of $10.03 and a 12-month high of $15.99.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The business had revenue of $60.70 million during the quarter, compared to analyst estimates of $59.43 million. During the same period last year, the firm posted $0.09 EPS. The company’s revenue was up 5.2% on a year-over-year basis. On average, research analysts predict that A10 Networks, Inc. will post 0.66 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Shareholders of record on Wednesday, May 15th will be issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.55%. The ex-dividend date of this dividend is Tuesday, May 14th. A10 Networks’s dividend payout ratio (DPR) is presently 39.34%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on ATEN shares. Craig Hallum increased their target price on shares of A10 Networks from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st. BWS Financial restated a “buy” rating and set a $17.00 price objective on shares of A10 Networks in a research report on Wednesday, May 1st.

A10 Networks 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.