A10 Networks (NYSE:ATEN) Share Price Crosses Above 50 Day Moving Average – Here’s What Happened

A10 Networks, Inc. (NYSE:ATEN)’s share price passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $17.81 and traded as high as $18.36. A10 Networks shares last traded at $18.30, with a volume of 542,588 shares.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. BTIG Research raised shares of A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price objective for the company in a report on Wednesday, August 6th. Mizuho initiated coverage on A10 Networks in a research report on Monday, July 14th. They set a “neutral” rating for the company. Wall Street Zen upgraded A10 Networks from a “hold” rating to a “buy” rating in a research report on Sunday, August 10th. Deutsche Bank Aktiengesellschaft initiated coverage on A10 Networks in a research report on Friday, June 27th. They set a “buy” rating and a $22.00 price objective for the company. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of A10 Networks in a research report on Thursday, September 18th. Four research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $22.00.

A10 Networks Trading Up 0.8%

The company has a debt-to-equity ratio of 1.07, a quick ratio of 4.04 and a current ratio of 4.23. The stock’s fifty day moving average is $17.81 and its 200 day moving average is $17.56. The stock has a market cap of $1.32 billion, a P/E ratio of 26.91 and a beta of 1.27.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The firm had revenue of $69.38 million during the quarter, compared to the consensus estimate of $65.99 million. During the same quarter last year, the firm earned $0.18 EPS. The firm’s revenue for the quarter was up 15.5% compared to the same quarter last year. As a group, equities research analysts predict that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were issued a $0.06 dividend. The ex-dividend date of this dividend was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.3%. A10 Networks’s dividend payout ratio (DPR) is presently 35.29%.

Insider Activity at A10 Networks

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the firm’s stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total value of $115,392.00. Following the completion of the sale, the chief financial officer owned 77,599 shares of the company’s stock, valued at $1,399,109.97. This trade represents a 7.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 1.15% of the company’s stock.

Institutional Trading of A10 Networks

Several institutional investors have recently added to or reduced their stakes in ATEN. Linden Thomas Advisory Services LLC boosted its holdings in A10 Networks by 5.4% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 13,863 shares of the communications equipment provider’s stock valued at $268,000 after purchasing an additional 708 shares during the last quarter. Franklin Resources Inc. boosted its holdings in A10 Networks by 0.7% in the 2nd quarter. Franklin Resources Inc. now owns 109,639 shares of the communications equipment provider’s stock valued at $2,122,000 after purchasing an additional 731 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in shares of A10 Networks by 2.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 36,438 shares of the communications equipment provider’s stock worth $705,000 after purchasing an additional 737 shares during the period. Federated Hermes Inc. boosted its position in shares of A10 Networks by 1.8% during the 1st quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider’s stock worth $743,000 after purchasing an additional 783 shares during the period. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of A10 Networks by 4.9% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,506 shares of the communications equipment provider’s stock worth $358,000 after purchasing an additional 871 shares during the period. Institutional investors own 98.61% of the company’s stock.

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.