A10 Networks, Inc. (NYSE:ATEN) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its holdings in A10 Networks, Inc. (NYSE:ATEN) by 8.6% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 52,560 shares of the communications equipment provider’s stock after selling 4,934 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.07% of A10 Networks worth $874,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. acquired a new position in A10 Networks in the fourth quarter worth approximately $50,000. Harvest Fund Management Co. Ltd acquired a new position in A10 Networks in the fourth quarter worth approximately $161,000. Freestone Grove Partners LP acquired a new position in A10 Networks in the fourth quarter worth approximately $197,000. Sciencast Management LP acquired a new position in A10 Networks in the fourth quarter worth approximately $198,000. Finally, iSAM Funds UK Ltd acquired a new position in A10 Networks in the fourth quarter worth approximately $206,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ATEN. Weiss Ratings restated a “hold (c)” rating on shares of A10 Networks in a research report on Tuesday, July 1st. Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks in a research note on Friday, June 27th. They set a “buy” rating and a $22.00 target price on the stock. BWS Financial reissued a “buy” rating and set a $24.00 target price on shares of A10 Networks in a research note on Friday, May 2nd. Craig Hallum raised shares of A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a research note on Friday, May 2nd. Finally, Raymond James Financial started coverage on shares of A10 Networks in a research note on Wednesday, April 23rd. They set a “market perform” rating on the stock. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, A10 Networks currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Insider Activity at A10 Networks

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the company’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total value of $43,150.00. Following the completion of the sale, the general counsel directly owned 61,007 shares in the company, valued at approximately $1,052,980.82. This represents a 3.94% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 1.15% of the stock is currently owned by corporate insiders.

A10 Networks Trading Down 2.1%

A10 Networks stock opened at $19.50 on Wednesday. The company’s fifty day simple moving average is $17.86 and its 200-day simple moving average is $18.19. The company has a quick ratio of 3.87, a current ratio of 4.05 and a debt-to-equity ratio of 1.11. A10 Networks, Inc. has a 12 month low of $12.27 and a 12 month high of $21.90. The stock has a market cap of $1.41 billion, a P/E ratio of 29.10, a P/E/G ratio of 4.72 and a beta of 1.39.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, May 1st. The communications equipment provider reported $0.20 EPS for the quarter, beating the consensus estimate of $0.19 by $0.01. A10 Networks had a net margin of 18.70% and a return on equity of 24.23%. The business had revenue of $66.14 million for the quarter, compared to analysts’ expectations of $63.63 million. During the same period in the previous year, the company posted $0.17 EPS. A10 Networks’s revenue was up 8.9% on a year-over-year basis. As a group, sell-side analysts forecast that A10 Networks, Inc. will post 0.69 EPS for the current fiscal year.

A10 Networks Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Thursday, May 15th. A10 Networks’s dividend payout ratio is currently 35.82%.

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.