A10 Networks (NYSE:ATEN) Shares Gap Down – Time to Sell?

A10 Networks, Inc. (NYSE:ATEN)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $19.55, but opened at $17.49. A10 Networks shares last traded at $16.29, with a volume of 2,446,511 shares traded.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of A10 Networks in a research report on Wednesday, February 5th. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Craig Hallum boosted their price target on A10 Networks from $16.00 to $18.00 and gave the company a “hold” rating in a report on Wednesday, February 5th.

A10 Networks Trading Down 16.9 %

The company has a market capitalization of $1.20 billion, a P/E ratio of 24.28 and a beta of 1.17. The firm’s 50 day moving average price is $19.75 and its two-hundred day moving average price is $17.07.

A10 Networks (NYSE:ATEN) last released its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. Analysts anticipate that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were issued a dividend of $0.06 per share. The ex-dividend date was Friday, February 14th. This represents a $0.24 annualized dividend and a yield of 1.48%. A10 Networks’s payout ratio is presently 35.82%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of ATEN. Mackenzie Financial Corp boosted its holdings in shares of A10 Networks by 58.6% in the 4th quarter. Mackenzie Financial Corp now owns 155,274 shares of the communications equipment provider’s stock valued at $2,857,000 after buying an additional 57,354 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of A10 Networks during the 4th quarter worth about $50,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of A10 Networks by 5.5% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 191,390 shares of the communications equipment provider’s stock valued at $3,522,000 after purchasing an additional 10,005 shares during the period. iSAM Funds UK Ltd acquired a new stake in A10 Networks in the 4th quarter valued at about $206,000. Finally, Squarepoint Ops LLC grew its holdings in A10 Networks by 363.8% during the fourth quarter. Squarepoint Ops LLC now owns 119,877 shares of the communications equipment provider’s stock worth $2,206,000 after purchasing an additional 94,032 shares during the period. 98.61% of the stock is currently owned by institutional investors.

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.