Sawgrass Asset Management LLC Sells 8,284 Shares of A10 Networks, Inc. (NYSE:ATEN)

Sawgrass Asset Management LLC reduced its stake in shares of A10 Networks, Inc. (NYSE:ATEN) by 40.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,146 shares of the communications equipment provider’s stock after selling 8,284 shares during the quarter. Sawgrass Asset Management LLC’s holdings in A10 Networks were worth $160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ATEN. Meeder Asset Management Inc. acquired a new stake in shares of A10 Networks during the 4th quarter worth approximately $163,000. Harbor Capital Advisors Inc. boosted its position in shares of A10 Networks by 6.5% in the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 816 shares during the last quarter. Quantbot Technologies LP acquired a new stake in shares of A10 Networks during the third quarter worth $181,000. Teza Capital Management LLC bought a new stake in A10 Networks in the third quarter valued at about $227,000. Finally, Diversified Trust Co acquired a new position in A10 Networks in the fourth quarter valued at about $228,000. Institutional investors and hedge funds own 98.61% of the company’s stock.

Insider Buying and Selling

In other news, CFO Brian Becker sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were 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 directly owns 34,252 shares of the company’s stock, valued at approximately $442,878.36. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other A10 Networks news, CFO Brian Becker sold 15,000 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $12.93, for a total transaction of $193,950.00. Following the sale, the chief financial officer now directly owns 34,252 shares of the company’s stock, valued at approximately $442,878.36. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the chief executive officer now 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 owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ATEN shares. BWS Financial reaffirmed a “buy” rating and issued a $17.00 price target on shares of A10 Networks in a research note on Wednesday, May 1st. Craig Hallum increased their target price on shares of A10 Networks from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, May 1st.

A10 Networks Trading Down 0.3 %

Shares of NYSE:ATEN traded down $0.04 during trading on Tuesday, hitting $15.51. 481,643 shares of the company’s stock traded hands, compared to its average volume of 668,946. The company has a 50-day moving average price of $13.72 and a 200-day moving average price of $13.07. A10 Networks, Inc. has a 52 week low of $10.03 and a 52 week high of $15.99. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 25.43 and a beta of 1.13.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. The business had revenue of $60.70 million for the quarter, compared to analyst estimates of $59.43 million. A10 Networks had a net margin of 17.96% and a return on equity of 22.42%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period last year, the business posted $0.09 earnings per share. On average, analysts predict that A10 Networks, Inc. will post 0.66 earnings per share for the current fiscal 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 given a dividend of $0.06 per share. The ex-dividend date is Tuesday, May 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.55%. A10 Networks’s dividend payout ratio is currently 39.34%.

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.