Weiss Asset Management LP Makes New Investment in A10 Networks, Inc. (NYSE:ATEN)

Weiss Asset Management LP acquired a new stake in A10 Networks, Inc. (NYSE:ATEN) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 158,962 shares of the communications equipment provider’s stock, valued at approximately $2,295,000. Weiss Asset Management LP owned 0.22% of A10 Networks as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Mackenzie Financial Corp increased its holdings in A10 Networks by 15.6% in the second quarter. Mackenzie Financial Corp now owns 46,062 shares of the communications equipment provider’s stock valued at $638,000 after buying an additional 6,217 shares in the last quarter. SG Americas Securities LLC purchased a new position in shares of A10 Networks in the 2nd quarter valued at about $1,201,000. Point72 DIFC Ltd acquired a new position in A10 Networks in the 2nd quarter worth about $516,000. Quest Partners LLC boosted its position in A10 Networks by 262.1% during the third quarter. Quest Partners LLC now owns 56,245 shares of the communications equipment provider’s stock worth $812,000 after purchasing an additional 40,712 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in A10 Networks by 11.8% in the third quarter. Principal Financial Group Inc. now owns 389,088 shares of the communications equipment provider’s stock valued at $5,618,000 after purchasing an additional 41,141 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Insider Activity

In related news, EVP Karen S. Thomas sold 6,162 shares of the company’s stock in a transaction dated Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the completion of the sale, the executive vice president now owns 23,799 shares of the company’s stock, valued at approximately $397,443.30. This represents a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.81% of the company’s stock.

A10 Networks Stock Performance

Shares of ATEN opened at $18.13 on Friday. The stock has a 50 day moving average price of $15.57 and a 200 day moving average price of $14.36. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 27.06 and a beta of 1.16. A10 Networks, Inc. has a one year low of $12.27 and a one year high of $18.31.

A10 Networks (NYSE:ATEN) last issued its earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.19 by $0.02. The business had revenue of $66.72 million during the quarter, compared to analysts’ expectations of $63.78 million. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.12 earnings per share. On average, analysts predict that A10 Networks, Inc. will post 0.6 earnings per share for the current year.

A10 Networks Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 18th were issued a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 1.32%. The ex-dividend date was Monday, November 18th. A10 Networks’s dividend payout ratio is currently 35.82%.

Analyst Ratings Changes

Several research analysts have recently weighed in on ATEN shares. StockNews.com raised A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Craig Hallum downgraded shares of A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price objective on the stock. in a report on Friday, November 8th. Finally, BWS Financial boosted their target price on shares of A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

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.