New York State Teachers Retirement System Cuts Stock Position in A10 Networks, Inc. $ATEN

New York State Teachers Retirement System lowered its position in A10 Networks, Inc. (NYSE:ATEN) by 19.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 31,579 shares of the communications equipment provider’s stock after selling 7,479 shares during the period. New York State Teachers Retirement System’s holdings in A10 Networks were worth $611,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Federated Hermes Inc. grew its position in shares of A10 Networks by 1.8% in the 1st quarter. Federated Hermes Inc. now owns 45,488 shares of the communications equipment provider’s stock worth $743,000 after buying an additional 783 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in shares of A10 Networks by 7.9% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 13,155 shares of the communications equipment provider’s stock worth $215,000 after buying an additional 963 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in shares of A10 Networks by 3.2% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 37,342 shares of the communications equipment provider’s stock worth $723,000 after buying an additional 1,141 shares during the last quarter. Verity Asset Management Inc. grew its position in shares of A10 Networks by 1.7% in the 1st quarter. Verity Asset Management Inc. now owns 81,669 shares of the communications equipment provider’s stock worth $1,334,000 after buying an additional 1,378 shares during the last quarter. Finally, CWM LLC grew its position in A10 Networks by 45.6% during the 1st quarter. CWM LLC now owns 4,644 shares of the communications equipment provider’s stock worth $76,000 after purchasing an additional 1,454 shares during the last quarter. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on ATEN shares. Mizuho started coverage on shares of A10 Networks in a research report on Monday, July 14th. They set a “neutral” rating on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of A10 Networks in a research report on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft started coverage on shares of A10 Networks in a research report on Friday, June 27th. They set a “buy” rating and a $22.00 target price on the stock. BTIG Research raised shares of A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 target price on the stock in a research report on Wednesday, August 6th. Finally, Wall Street Zen raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research report on Sunday, August 10th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

A10 Networks Stock Down 1.8%

Shares of ATEN stock opened at $17.74 on Thursday. A10 Networks, Inc. has a twelve month low of $13.81 and a twelve month high of $21.90. The stock has a market cap of $1.28 billion, a P/E ratio of 26.09 and a beta of 1.27. The stock has a 50 day moving average of $17.75 and a 200 day moving average of $17.66. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07.

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

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 2nd. Shareholders of record on Friday, August 15th were given a $0.06 dividend. The ex-dividend date was Friday, August 15th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.4%. A10 Networks’s dividend payout ratio is 35.29%.

Insider Activity

In other news, CFO Brian Becker sold 6,400 shares of the stock in a transaction dated Wednesday, August 13th. The shares were sold at an average price of $18.03, for a total transaction of $115,392.00. Following 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.15% of the stock is currently owned by insiders.

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.