Penserra Capital Management LLC Purchases 1,425,792 Shares of A10 Networks, Inc. $ATEN

Penserra Capital Management LLC raised its position in A10 Networks, Inc. (NYSE:ATEN) by 56.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 3,964,989 shares of the communications equipment provider’s stock after purchasing an additional 1,425,792 shares during the period. A10 Networks makes up about 1.1% of Penserra Capital Management LLC’s investment portfolio, making the stock its 21st biggest holding. Penserra Capital Management LLC owned about 0.06% of A10 Networks worth $76,722,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ATEN. Principal Financial Group Inc. increased its position in shares of A10 Networks by 3.0% during the first quarter. Principal Financial Group Inc. now owns 416,548 shares of the communications equipment provider’s stock valued at $6,806,000 after purchasing an additional 12,282 shares during the period. Linden Thomas Advisory Services LLC lifted its position in A10 Networks by 7.9% in the first quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider’s stock worth $215,000 after purchasing an additional 963 shares during the period. Alps Advisors Inc. acquired a new stake in A10 Networks during the first quarter worth $331,000. CWM LLC increased its holdings in A10 Networks by 45.6% in the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock valued at $76,000 after buying an additional 1,454 shares during the period. Finally, Victory Capital Management Inc. increased its holdings in A10 Networks by 124.4% in the 1st quarter. Victory Capital Management Inc. now owns 385,332 shares of the communications equipment provider’s stock valued at $6,296,000 after buying an additional 213,592 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.

Analysts Set New Price Targets

ATEN has been the subject of a number of analyst reports. Mizuho initiated coverage on shares of A10 Networks in a report on Monday, July 14th. They set a “neutral” rating for the company. Weiss Ratings reissued a “hold (c+)” rating on shares of A10 Networks in a research report on Wednesday, October 8th. Wall Street Zen cut shares of A10 Networks from a “buy” rating to a “hold” rating in a research note on Saturday. Finally, BTIG Research upgraded A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price objective on the stock in a research note on Wednesday, August 6th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

A10 Networks Trading Down 3.2%

Shares of A10 Networks stock opened at $17.22 on Friday. A10 Networks, Inc. has a 12-month low of $13.81 and a 12-month high of $21.90. The stock has a market capitalization of $1.24 billion, a P/E ratio of 25.32 and a beta of 1.30. The company has a 50-day simple moving average of $17.88 and a 200 day simple moving average of $17.86. The company has a quick ratio of 4.04, a current ratio of 4.23 and a debt-to-equity ratio of 1.07.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Tuesday, November 4th. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.02. The business had revenue of $74.68 million for the quarter, compared to the consensus estimate of $70.70 million. A10 Networks had a net margin of 18.45% and a return on equity of 25.46%. The firm’s quarterly revenue was up 11.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.21 EPS. Research analysts expect that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 1st. Investors of record on Monday, November 17th will be issued a $0.06 dividend. The ex-dividend date of this dividend is Monday, November 17th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks’s dividend payout ratio (DPR) is currently 35.29%.

Insiders Place Their Bets

In other news, CFO Brian Becker sold 6,400 shares of the company’s 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 completion of the sale, the chief financial officer directly owned 77,599 shares of the company’s stock, valued at $1,399,109.97. This represents a 7.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 1.15% of the stock is owned by company insiders.

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.