Peregrine Capital Management LLC Sells 12,486 Shares of A10 Networks, Inc. $ATEN

Peregrine Capital Management LLC cut its holdings in shares of A10 Networks, Inc. (NYSE:ATEN) by 3.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 372,366 shares of the communications equipment provider’s stock after selling 12,486 shares during the period. Peregrine Capital Management LLC owned approximately 0.52% of A10 Networks worth $7,205,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Linden Thomas Advisory Services LLC lifted its holdings in A10 Networks by 5.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 13,863 shares of the communications equipment provider’s stock worth $268,000 after acquiring an additional 708 shares in the last quarter. Federated Hermes Inc. lifted its holdings in A10 Networks by 1.8% during the first quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider’s stock worth $743,000 after acquiring an additional 783 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in A10 Networks by 3.2% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,342 shares of the communications equipment provider’s stock worth $723,000 after acquiring an additional 1,141 shares in the last quarter. Verity Asset Management Inc. lifted its holdings in A10 Networks by 1.7% during the first quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider’s stock worth $1,334,000 after acquiring an additional 1,378 shares in the last quarter. Finally, CWM LLC lifted its holdings in A10 Networks by 45.6% during the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock worth $76,000 after acquiring an additional 1,454 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

A10 Networks Price Performance

NYSE:ATEN opened at $17.78 on Tuesday. 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 50-day simple moving average is $17.79 and its 200 day simple moving average is $17.74. The company has a market cap of $1.28 billion, a P/E ratio of 26.15 and a beta of 1.27. A10 Networks, Inc. has a 52-week low of $13.81 and a 52-week high of $21.90.

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

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 2nd. Investors of record on Friday, August 15th were given 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 payout ratio is currently 35.29%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ATEN. Weiss Ratings reiterated a “hold (c+)” rating on shares of A10 Networks in a report on Wednesday, October 8th. Mizuho began coverage on A10 Networks in a research note on Monday, July 14th. They issued a “neutral” rating on the stock. BTIG Research raised A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research note on Wednesday, August 6th. Finally, Wall Street Zen raised A10 Networks from a “hold” rating to a “buy” rating in a research note on Sunday, August 10th. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $22.00.

Insider Activity

In related news, CFO Brian Becker sold 6,400 shares of A10 Networks stock in a transaction dated Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total value of $115,392.00. Following the sale, the chief financial officer owned 77,599 shares of the company’s stock, valued at approximately $1,399,109.97. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.15% of the company’s stock.

A10 Networks 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.