A10 Networks, Inc. (NYSE:ATEN) General Counsel Robert Scott Weber Sells 2,500 Shares

A10 Networks, Inc. (NYSE:ATEN) General Counsel Robert Scott Weber sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total value of $43,150.00. Following 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 can be accessed through this link.

A10 Networks Stock Down 1.8%

Shares of NYSE:ATEN traded down $0.31 during trading on Wednesday, hitting $17.13. The stock had a trading volume of 497,510 shares, compared to its average volume of 867,798. A10 Networks, Inc. has a 12-month low of $12.27 and a 12-month high of $21.90. The stock has a market capitalization of $1.23 billion, a price-to-earnings ratio of 25.57 and a beta of 1.37. The stock has a 50-day simple moving average of $16.56 and a two-hundred day simple moving average of $18.01.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Thursday, May 1st. The communications equipment provider reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. The firm had revenue of $66.14 million during the quarter, compared to analysts’ expectations of $63.63 million. During the same period last year, the business posted $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 forecast that A10 Networks, Inc. will post 0.69 earnings per share for the current year.

A10 Networks Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th will be paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Thursday, May 15th. A10 Networks’s payout ratio is 35.82%.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Craig Hallum upgraded A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 price objective for the company in a research note on Friday, May 2nd. Wall Street Zen lowered A10 Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. BWS Financial reaffirmed a “buy” rating and set a $24.00 target price on shares of A10 Networks in a research report on Friday, May 2nd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of A10 Networks in a research report on Saturday. Finally, Raymond James initiated coverage on A10 Networks in a research report on Wednesday, April 23rd. They set a “market perform” rating on the stock. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.00.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of ATEN. Vestcor Inc purchased a new position in shares of A10 Networks in the first quarter worth about $44,000. Sunbelt Securities Inc. purchased a new position in A10 Networks during the fourth quarter valued at approximately $50,000. Caitong International Asset Management Co. Ltd purchased a new position in A10 Networks during the first quarter valued at approximately $55,000. CWM LLC raised its position in A10 Networks by 45.6% during the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock valued at $76,000 after acquiring an additional 1,454 shares in the last quarter. Finally, KBC Group NV raised its position in A10 Networks by 79.1% during the fourth quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider’s stock valued at $94,000 after acquiring an additional 2,251 shares in the last quarter. 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.