A10 Networks, Inc. (NYSE:ATEN) Shares Acquired by Principal Financial Group Inc.

Principal Financial Group Inc. grew its holdings in shares of A10 Networks, Inc. (NYSE:ATEN) by 3.0% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 416,548 shares of the communications equipment provider’s stock after purchasing an additional 12,282 shares during the quarter. Principal Financial Group Inc. owned approximately 0.56% of A10 Networks worth $6,806,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Sunbelt Securities Inc. purchased a new position in shares of A10 Networks in the 4th quarter valued at $50,000. Harvest Fund Management Co. Ltd purchased a new position in shares of A10 Networks in the 4th quarter valued at $161,000. Freestone Grove Partners LP purchased a new position in shares of A10 Networks in the 4th quarter valued at $197,000. Sciencast Management LP purchased a new position in shares of A10 Networks in the 4th quarter valued at $198,000. Finally, iSAM Funds UK Ltd purchased a new position in shares of A10 Networks in the 4th quarter valued at $206,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ATEN. Deutsche Bank Aktiengesellschaft began coverage on shares of A10 Networks in a report on Friday, June 27th. They set a “buy” rating and a $22.00 price objective for the company. Wall Street Zen downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a research report on Thursday, May 8th. Craig Hallum upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 target price on the stock in a report on Friday, May 2nd. Mizuho initiated coverage on shares of A10 Networks in a report on Monday. They issued a “neutral” rating on the stock. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of A10 Networks in a report on Tuesday, July 1st. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, A10 Networks currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

A10 Networks Price Performance

NYSE:ATEN opened at $17.93 on Wednesday. The stock has a market cap of $1.29 billion, a P/E ratio of 26.75, a PEG ratio of 4.22 and a beta of 1.39. A10 Networks, Inc. has a one year low of $12.27 and a one year high of $21.90. The company has a fifty day moving average price of $18.11 and a 200 day moving average price of $18.19. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.05 and a quick ratio of 3.87.

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

A10 Networks Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, June 2nd. Stockholders of record on Thursday, May 15th were issued a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Thursday, May 15th. A10 Networks’s payout ratio is 35.82%.

Insider Buying and Selling at A10 Networks

In other A10 Networks news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction dated Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total transaction of $43,150.00. Following the sale, the general counsel owned 61,007 shares of the company’s stock, valued at $1,052,980.82. This represents a 3.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.15% 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.