A10 Networks (NYSE:ATEN) Hits New 52-Week High – Here’s Why

A10 Networks, Inc. (NYSE:ATEN)’s stock price reached a new 52-week high on Monday . The company traded as high as $19.22 and last traded at $19.16, with a volume of 90110 shares. The stock had previously closed at $18.67.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ATEN shares. StockNews.com upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th. Craig Hallum cut shares of 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, BWS Financial upped their price objective on A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a report on Wednesday, November 13th.

A10 Networks Stock Performance

The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 27.87 and a beta of 1.16. The company has a 50 day moving average of $16.01 and a 200 day moving average of $14.48.

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

A10 Networks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Shareholders of record on Monday, November 18th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend was Monday, November 18th. A10 Networks’s payout ratio is currently 35.82%.

Insider Buying and Selling at A10 Networks

In other news, EVP Karen S. Thomas sold 6,162 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the executive vice president now owns 23,799 shares in the company, valued at $397,443.30. This 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 is available through this link. 5.81% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ATEN. Allspring Global Investments Holdings LLC lifted its holdings in shares of A10 Networks by 55.6% in the second quarter. Allspring Global Investments Holdings LLC now owns 130,132 shares of the communications equipment provider’s stock valued at $1,802,000 after purchasing an additional 46,489 shares in the last quarter. Miller Howard Investments Inc. NY lifted its stake in A10 Networks by 30.5% in the 2nd quarter. Miller Howard Investments Inc. NY now owns 41,668 shares of the communications equipment provider’s stock valued at $577,000 after buying an additional 9,729 shares in the last quarter. Panagora Asset Management Inc. grew its holdings in A10 Networks by 7.4% during the 2nd quarter. Panagora Asset Management Inc. now owns 92,099 shares of the communications equipment provider’s stock valued at $1,276,000 after buying an additional 6,311 shares during the last quarter. Picton Mahoney Asset Management purchased a new position in A10 Networks during the second quarter worth $148,000. Finally, nVerses Capital LLC acquired a new position in shares of A10 Networks in the second quarter worth $105,000. Hedge funds and other institutional investors own 98.61% of the company’s stock.

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.