State of Alaska Department of Revenue Increases Stake in A10 Networks, Inc. (NYSE:ATEN)

State of Alaska Department of Revenue increased its position in A10 Networks, Inc. (NYSE:ATENGet Rating) by 4.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 45,880 shares of the communications equipment provider’s stock after purchasing an additional 1,750 shares during the period. State of Alaska Department of Revenue’s holdings in A10 Networks were worth $608,000 as of its most recent filing with the SEC.

Several other large investors also recently added to or reduced their stakes in ATEN. Louisiana State Employees Retirement System bought a new position in A10 Networks in the 3rd quarter worth about $421,000. Bailard Inc. boosted its stake in A10 Networks by 4.1% in the 3rd quarter. Bailard Inc. now owns 17,613 shares of the communications equipment provider’s stock worth $234,000 after purchasing an additional 700 shares during the period. Secure Asset Management LLC boosted its stake in A10 Networks by 21.1% in the 3rd quarter. Secure Asset Management LLC now owns 14,506 shares of the communications equipment provider’s stock worth $192,000 after purchasing an additional 2,528 shares during the period. Cim Investment Management Inc. bought a new position in A10 Networks in the 2nd quarter worth about $161,000. Finally, Legal & General Group Plc boosted its stake in A10 Networks by 10.6% in the 2nd quarter. Legal & General Group Plc now owns 2,349,041 shares of the communications equipment provider’s stock worth $33,780,000 after purchasing an additional 224,926 shares during the period. Hedge funds and other institutional investors own 88.86% of the company’s stock.

A10 Networks Trading Up 1.0 %

Shares of ATEN opened at $15.97 on Thursday. The company has a market cap of $1.17 billion, a PE ratio of 31.94 and a beta of 1.02. The stock has a 50-day moving average price of $17.69 and a 200-day moving average price of $15.66. A10 Networks, Inc. has a 12-month low of $12.27 and a 12-month high of $19.79.

A10 Networks (NYSE:ATENGet Rating) last issued its quarterly earnings results on Tuesday, November 1st. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The business had revenue of $72.06 million for the quarter, compared to the consensus estimate of $69.96 million. A10 Networks had a net margin of 14.49% and a return on equity of 20.73%. As a group, analysts predict that A10 Networks, Inc. will post 0.53 earnings per share for the current year.

A10 Networks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Investors of record on Tuesday, November 15th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.50%. This is a boost from A10 Networks’s previous quarterly dividend of $0.05. The ex-dividend date was Monday, November 14th. A10 Networks’s dividend payout ratio (DPR) is currently 48.00%.

Analysts Set New Price Targets

Several brokerages have commented on ATEN. BWS Financial raised their target price on A10 Networks from $20.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 2nd. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research report on Thursday, November 10th.

Insider Activity at A10 Networks

In related news, CEO Dhrupad Trivedi sold 15,079 shares of the firm’s stock in a transaction dated Tuesday, December 6th. The stock was sold at an average price of $18.84, for a total transaction of $284,088.36. Following the transaction, the chief executive officer now directly owns 500,956 shares of the company’s stock, valued at approximately $9,438,011.04. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other A10 Networks news, Director Eric Singer sold 60,541 shares of A10 Networks stock in a transaction that occurred on Monday, November 7th. The stock was sold at an average price of $18.01, for a total value of $1,090,343.41. Following the transaction, the director now directly owns 46,566 shares of the company’s stock, valued at approximately $838,653.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Dhrupad Trivedi sold 15,079 shares of A10 Networks stock in a transaction that occurred on Tuesday, December 6th. The stock was sold at an average price of $18.84, for a total value of $284,088.36. Following the completion of the transaction, the chief executive officer now directly owns 500,956 shares in the company, valued at $9,438,011.04. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,763 shares of company stock valued at $1,555,514. Corporate insiders own 14.22% of the company’s stock.

A10 Networks Profile

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A10 Networks, Inc provides networking solutions in the Americas, Japan, other Asia Pacific, and EMEA countries. The company offers Thunder Application Delivery Controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and microservices; and Thunder Carrier Grade Networking product, which offers standards-compliant address and protocol translation services for service provider networks.

Further Reading

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Institutional Ownership by Quarter for A10 Networks (NYSE:ATEN)

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