Meritage Portfolio Management Increases Stock Holdings in A10 Networks, Inc. (NYSE:ATEN)

Meritage Portfolio Management raised its stake in shares of A10 Networks, Inc. (NYSE:ATEN) by 30.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 32,220 shares of the communications equipment provider’s stock after purchasing an additional 7,484 shares during the quarter. Meritage Portfolio Management’s holdings in A10 Networks were worth $424,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ATEN. Vanguard Group Inc. grew its stake in A10 Networks by 2.7% in the third quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock worth $104,697,000 after purchasing an additional 185,362 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its position in shares of A10 Networks by 37.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock worth $32,753,000 after buying an additional 676,509 shares during the period. Legal & General Group Plc increased its stake in shares of A10 Networks by 18.7% in the 3rd quarter. Legal & General Group Plc now owns 1,708,642 shares of the communications equipment provider’s stock worth $25,681,000 after acquiring an additional 268,642 shares in the last quarter. Bank of New York Mellon Corp lifted its position in A10 Networks by 0.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,626,418 shares of the communications equipment provider’s stock valued at $24,445,000 after acquiring an additional 5,707 shares during the period. Finally, Trigran Investments Inc. boosted its stake in A10 Networks by 41.0% during the third quarter. Trigran Investments Inc. now owns 1,273,768 shares of the communications equipment provider’s stock worth $19,145,000 after acquiring an additional 370,240 shares in the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

A10 Networks Stock Down 0.1 %

Shares of NYSE ATEN traded down $0.01 during trading on Friday, reaching $13.57. The company had a trading volume of 161,925 shares, compared to its average volume of 647,557. The business’s 50-day moving average is $13.48 and its 200 day moving average is $12.86. The stock has a market cap of $1.01 billion, a PE ratio of 25.62 and a beta of 1.10. A10 Networks, Inc. has a 12-month low of $10.03 and a 12-month high of $15.99.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, February 6th. The communications equipment provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). The firm had revenue of $70.42 million for the quarter, compared to the consensus estimate of $76.95 million. A10 Networks had a net margin of 15.88% and a return on equity of 21.67%. On average, analysts anticipate that A10 Networks, Inc. will post 0.66 earnings per share for the current year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a $0.06 dividend. This represents a $0.24 annualized dividend and a dividend yield of 1.77%. The ex-dividend date was Thursday, February 15th. A10 Networks’s dividend payout ratio is currently 45.28%.

Insider Activity

In other news, CEO Dhrupad Trivedi sold 21,498 shares of the firm’s stock in a transaction dated Monday, January 29th. The shares were sold at an average price of $13.58, for a total transaction of $291,942.84. Following the sale, the chief executive officer now owns 461,507 shares of the company’s stock, valued at approximately $6,267,265.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CFO Brian Becker sold 2,047 shares of the business’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $13.06, for a total transaction of $26,733.82. Following the completion of the transaction, the chief financial officer now directly owns 49,252 shares of the company’s stock, valued at $643,231.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dhrupad Trivedi sold 21,498 shares of the business’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $13.58, for a total transaction of $291,942.84. Following the transaction, the chief executive officer now directly owns 461,507 shares of the company’s stock, valued at $6,267,265.06. The disclosure for this sale can be found here. Insiders have sold a total of 142,644 shares of company stock valued at $1,890,109 over the last ninety days. 5.81% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Separately, BWS Financial lifted their target price on shares of A10 Networks from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 7th.

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.