New York State Common Retirement Fund Sells 62,644 Shares of A10 Networks, Inc. (NYSE:ATEN)

New York State Common Retirement Fund reduced its stake in A10 Networks, Inc. (NYSE:ATEN) by 34.8% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 117,198 shares of the communications equipment provider’s stock after selling 62,644 shares during the quarter. New York State Common Retirement Fund’s holdings in A10 Networks were worth $1,543,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund raised its stake in shares of A10 Networks by 9.1% during the 4th quarter. Illinois Municipal Retirement Fund now owns 40,806 shares of the communications equipment provider’s stock worth $537,000 after purchasing an additional 3,417 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its position in A10 Networks by 24.2% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,367 shares of the communications equipment provider’s stock worth $255,000 after acquiring an additional 3,772 shares during the period. Mackenzie Financial Corp boosted its stake in A10 Networks by 6.4% in the fourth quarter. Mackenzie Financial Corp now owns 38,810 shares of the communications equipment provider’s stock valued at $511,000 after acquiring an additional 2,348 shares during the last quarter. Strs Ohio grew its position in shares of A10 Networks by 356.5% during the 4th quarter. Strs Ohio now owns 49,300 shares of the communications equipment provider’s stock valued at $649,000 after acquiring an additional 38,500 shares during the period. Finally, Louisiana State Employees Retirement System purchased a new stake in shares of A10 Networks during the 4th quarter worth approximately $460,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

A10 Networks Trading Up 0.6 %

ATEN opened at $15.51 on Friday. A10 Networks, Inc. has a 12-month low of $10.03 and a 12-month high of $15.99. The stock has a 50-day moving average price of $13.80 and a 200-day moving average price of $13.11. The stock has a market capitalization of $1.15 billion, a P/E ratio of 25.43 and a beta of 1.13.

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

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid 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 is Tuesday, May 14th. A10 Networks’s dividend payout ratio (DPR) is 39.34%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Craig Hallum increased their price target on A10 Networks from $15.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, May 1st. BWS Financial reissued a “buy” rating and set a $17.00 price objective on shares of A10 Networks in a research note on Wednesday, May 1st.

Insiders Place Their Bets

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

About A10 Networks

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.