Weiss Asset Management LP Invests $2.30 Million in A10 Networks, Inc. (NYSE:ATEN)

Weiss Asset Management LP bought a new stake in A10 Networks, Inc. (NYSE:ATEN) in the 3rd quarter, Holdings Channel.com reports. The fund bought 158,962 shares of the communications equipment provider’s stock, valued at approximately $2,295,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mackenzie Financial Corp boosted its position in shares of A10 Networks by 15.6% during the second quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock worth $638,000 after buying an additional 6,217 shares during the period. SG Americas Securities LLC purchased a new position in A10 Networks during the 2nd quarter valued at about $1,201,000. Point72 DIFC Ltd purchased a new position in A10 Networks during the 2nd quarter valued at about $516,000. Quest Partners LLC grew its position in A10 Networks by 262.1% in the 3rd quarter. Quest Partners LLC now owns 56,245 shares of the communications equipment provider’s stock valued at $812,000 after acquiring an additional 40,712 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in A10 Networks by 11.8% during the third quarter. Principal Financial Group Inc. now owns 389,088 shares of the communications equipment provider’s stock worth $5,618,000 after purchasing an additional 41,141 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Insider Transactions at A10 Networks

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following the sale, the executive vice president now owns 23,799 shares of the company’s stock, valued at approximately $397,443.30. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 5.81% of the company’s stock.

A10 Networks Stock Performance

Shares of A10 Networks stock opened at $18.13 on Friday. The business has a 50-day simple moving average of $15.57 and a 200-day simple moving average of $14.36. The company has a market cap of $1.34 billion, a PE ratio of 27.06 and a beta of 1.16. A10 Networks, Inc. has a one year low of $12.27 and a one year high of $18.31.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $66.72 million for the quarter, compared to the consensus estimate of $63.78 million. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.12 EPS. On average, sell-side analysts predict that A10 Networks, Inc. will post 0.6 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date of this dividend was Monday, November 18th. A10 Networks’s dividend payout ratio (DPR) is 35.82%.

Analysts Set New Price Targets

ATEN has been the subject of several recent research reports. StockNews.com raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. BWS Financial raised their price target on shares of A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Craig Hallum lowered A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a research report on Friday, November 8th.

A10 Networks Company 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.