A10 Networks, Inc. (NYSE:ATEN) Sees Significant Decrease in Short Interest

A10 Networks, Inc. (NYSE:ATEN) was the recipient of a significant drop in short interest in October. As of October 31st, there was short interest totalling 1,230,000 shares, a drop of 8.9% from the October 15th total of 1,350,000 shares. Based on an average daily trading volume, of 553,800 shares, the short-interest ratio is presently 2.2 days. Approximately 1.7% of the shares of the stock are sold short.

Insider Buying and Selling

In other news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following the transaction, the executive vice president now owns 23,799 shares in the company, valued at approximately $397,443.30. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 5.81% of the stock is currently owned by insiders.

Hedge Funds Weigh In On A10 Networks

Several hedge funds have recently modified their holdings of ATEN. Mackenzie Financial Corp lifted its stake in A10 Networks by 15.6% in the second quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock valued at $638,000 after acquiring an additional 6,217 shares during the last quarter. SG Americas Securities LLC bought a new position in A10 Networks in the 2nd quarter valued at about $1,201,000. Point72 DIFC Ltd acquired a new stake in A10 Networks during the second quarter worth approximately $516,000. Russell Investments Group Ltd. boosted its holdings in shares of A10 Networks by 4.4% during the first quarter. Russell Investments Group Ltd. now owns 585,827 shares of the communications equipment provider’s stock worth $8,020,000 after acquiring an additional 24,672 shares during the period. Finally, ProShare Advisors LLC grew its position in shares of A10 Networks by 7.4% in the first quarter. ProShare Advisors LLC now owns 14,226 shares of the communications equipment provider’s stock valued at $195,000 after purchasing an additional 984 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

A10 Networks Stock Performance

Shares of ATEN stock traded down $0.03 during trading hours on Monday, hitting $16.35. The company had a trading volume of 675,353 shares, compared to its average volume of 717,549. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 24.54 and a beta of 1.11. The firm’s fifty day moving average is $14.54 and its 200 day moving average is $14.20. A10 Networks has a 12 month low of $11.92 and a 12 month high of $16.92.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.02. The firm had revenue of $66.72 million for the quarter, compared to the consensus estimate of $63.78 million. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS. On average, sell-side analysts expect that A10 Networks will post 0.65 EPS for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 18th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Monday, November 18th. A10 Networks’s dividend payout ratio is presently 35.82%.

Analysts Set New Price Targets

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

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.