Meritage Portfolio Management Boosts Position in A10 Networks, Inc. (NYSE:ATEN)

Meritage Portfolio Management boosted its holdings in shares of A10 Networks, Inc. (NYSE:ATEN) by 30.3% during the 4th quarter, Holdings Channel reports. The fund owned 32,220 shares of the communications equipment provider’s stock after buying an additional 7,484 shares during the period. Meritage Portfolio Management’s holdings in A10 Networks were worth $424,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new position in A10 Networks during the 4th quarter worth about $163,000. Harbor Capital Advisors Inc. grew its holdings in A10 Networks by 6.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock worth $176,000 after acquiring an additional 816 shares in the last quarter. Quantbot Technologies LP bought a new position in A10 Networks during the 3rd quarter worth about $181,000. Teza Capital Management LLC bought a new position in A10 Networks during the 3rd quarter worth about $227,000. Finally, Diversified Trust Co bought a new position in A10 Networks during the 4th quarter worth about $228,000. 98.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial raised their price target on shares of A10 Networks from $15.00 to $17.00 and gave the company a “buy” rating in a report on Wednesday, February 7th.

A10 Networks Trading Down 0.1 %

Shares of NYSE:ATEN traded down $0.01 during trading on Friday, reaching $13.57. The stock had a trading volume of 161,925 shares, compared to its average volume of 647,557. A10 Networks, Inc. has a one year low of $10.03 and a one year high of $15.99. The company has a market capitalization of $1.01 billion, a P/E ratio of 25.62 and a beta of 1.10. The firm’s 50-day simple moving average is $13.48 and its 200 day simple moving average is $12.86.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). A10 Networks had a net margin of 15.88% and a return on equity of 21.67%. The firm had revenue of $70.42 million during the quarter, compared to the consensus estimate of $76.95 million. Equities research analysts forecast that A10 Networks, Inc. will post 0.66 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 16th were paid a dividend of $0.06 per share. The ex-dividend date of this dividend was Thursday, February 15th. This represents a $0.24 annualized dividend and a dividend yield of 1.77%. A10 Networks’s payout ratio is currently 45.28%.

Insider Activity

In related news, CFO Brian Becker sold 2,047 shares of the firm’s stock in a transaction on Monday, February 5th. The stock was sold at an average price of $13.06, for a total value of $26,733.82. Following the completion of the transaction, the chief financial officer now owns 49,252 shares in the company, valued at approximately $643,231.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Dhrupad Trivedi sold 60,606 shares of the business’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total transaction of $804,241.62. Following the completion of the transaction, the chief executive officer now directly owns 495,814 shares in the company, valued at $6,579,451.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian Becker sold 2,047 shares of the company’s stock in a transaction on Monday, February 5th. The shares were sold at an average price of $13.06, for a total transaction of $26,733.82. Following the completion of the sale, the chief financial officer now directly owns 49,252 shares in the company, valued at $643,231.12. The disclosure for this sale can be found here. Insiders have sold 142,644 shares of company stock valued at $1,890,109 over the last ninety days. 5.81% of the stock is currently owned by 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.