A10 Networks (NYSE:ATEN) Shares Gap Down to $16.45

Shares of A10 Networks, Inc. (NYSE:ATEN) gapped down prior to trading on Tuesday . The stock had previously closed at $16.45, but opened at $15.41. A10 Networks shares last traded at $15.28, with a volume of 558,010 shares.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. 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 raised their price objective on A10 Networks from $15.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, May 1st.

A10 Networks Price Performance

The firm has a market cap of $1.13 billion, a PE ratio of 24.96 and a beta of 1.13. The firm has a 50-day simple moving average of $14.14 and a 200 day simple moving average of $13.42.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $59.43 million. During the same period last year, the company earned $0.09 earnings per share. The company’s revenue was up 5.2% on a year-over-year basis. Sell-side analysts forecast that A10 Networks, Inc. will post 0.66 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be issued 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 1.58%. A10 Networks’s payout ratio is presently 39.34%.

Insider Activity

In related news, CEO Dhrupad Trivedi sold 60,606 shares of A10 Networks stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total value of $804,241.62. Following the completion of the sale, the chief executive officer now directly owns 495,814 shares in the company, valued at approximately $6,579,451.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Dhrupad Trivedi sold 60,606 shares of A10 Networks stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total value of $804,241.62. Following the completion of the sale, the chief executive officer now directly owns 495,814 shares in the company, valued at approximately $6,579,451.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Peter Y. Chung sold 3,296,047 shares of the business’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $15.40, for a total value of $50,759,123.80. Following the sale, the director now owns 619,166 shares of the company’s stock, valued at $9,535,156.40. The disclosure for this sale can be found here. Corporate insiders own 5.82% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in A10 Networks by 2.7% in the 3rd quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock valued at $104,697,000 after acquiring an additional 185,362 shares during the last quarter. Meritage Portfolio Management increased its holdings in shares of A10 Networks by 30.3% in the fourth quarter. Meritage Portfolio Management now owns 32,220 shares of the communications equipment provider’s stock valued at $424,000 after purchasing an additional 7,484 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of A10 Networks by 37.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after purchasing an additional 676,509 shares during the period. Verity Asset Management Inc. increased its holdings in shares of A10 Networks by 1.7% in the third quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock valued at $1,378,000 after purchasing an additional 1,515 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in shares of A10 Networks by 93.6% in the fourth quarter. Russell Investments Group Ltd. now owns 561,155 shares of the communications equipment provider’s stock valued at $7,390,000 after purchasing an additional 271,303 shares during the period. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.