Russell Investments Group Ltd. Increases Stock Holdings in A10 Networks, Inc. (NYSE:ATEN)

Russell Investments Group Ltd. grew its stake in shares of A10 Networks, Inc. (NYSE:ATEN) by 93.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 561,155 shares of the communications equipment provider’s stock after purchasing an additional 271,303 shares during the quarter. Russell Investments Group Ltd.’s holdings in A10 Networks were worth $7,390,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ATEN. Vanguard Group Inc. raised its stake in A10 Networks by 2.7% during the 3rd quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock worth $104,697,000 after acquiring an additional 185,362 shares in the last quarter. Meritage Portfolio Management increased its position in shares of A10 Networks by 30.3% during the fourth quarter. Meritage Portfolio Management now owns 32,220 shares of the communications equipment provider’s stock worth $424,000 after purchasing an additional 7,484 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of A10 Networks by 37.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after purchasing an additional 676,509 shares during the last quarter. Verity Asset Management Inc. boosted its position in shares of A10 Networks by 1.7% in the 3rd quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock valued at $1,378,000 after purchasing an additional 1,515 shares during the period. Finally, Qube Research & Technologies Ltd grew its stake in A10 Networks by 38.2% during the 3rd quarter. Qube Research & Technologies Ltd now owns 158,383 shares of the communications equipment provider’s stock worth $2,380,000 after buying an additional 43,781 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

A10 Networks Stock Down 0.3 %

NYSE ATEN opened at $15.51 on Wednesday. The firm has a market cap of $1.16 billion, a P/E ratio of 25.43 and a beta of 1.13. A10 Networks, Inc. has a 52-week low of $10.03 and a 52-week high of $15.99. The business’s 50-day moving average price is $13.72 and its 200 day moving average price is $13.07.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $60.70 million during the quarter, compared to analysts’ expectations of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same period last year, the firm earned $0.09 EPS. As a group, analysts anticipate that A10 Networks, Inc. will post 0.66 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 3rd. Shareholders of record on Wednesday, May 15th will be paid a $0.06 dividend. The ex-dividend date is Tuesday, May 14th. This represents a $0.24 annualized dividend and a yield of 1.55%. A10 Networks’s dividend payout ratio is currently 39.34%.

Analysts Set New Price Targets

A number of brokerages have weighed in on ATEN. BWS Financial reiterated a “buy” rating and issued a $17.00 price objective on shares of A10 Networks in a research note on Wednesday, May 1st. Craig Hallum upped their price target on shares of A10 Networks from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st.

Insider Buying and Selling at A10 Networks

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

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.