Weiss Asset Management LP Purchases Shares of 21,630 A10 Networks, Inc. $ATEN

Weiss Asset Management LP purchased a new stake in shares of A10 Networks, Inc. (NYSE:ATEN) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 21,630 shares of the communications equipment provider’s stock, valued at approximately $500,000.

Several other institutional investors also recently modified their holdings of the business. Walleye Capital LLC acquired a new stake in A10 Networks in the first quarter valued at $115,600,000. Boston Partners acquired a new position in A10 Networks during the 4th quarter worth about $14,795,000. Wellington Management Group LLP grew its position in shares of A10 Networks by 40.2% in the 3rd quarter. Wellington Management Group LLP now owns 2,054,213 shares of the communications equipment provider’s stock valued at $37,284,000 after buying an additional 588,922 shares during the last quarter. Deprince Race & Zollo Inc. acquired a new stake in shares of A10 Networks in the first quarter valued at about $13,058,000. Finally, Defiance ETFs LLC bought a new position in shares of A10 Networks during the fourth quarter worth about $10,047,000. Institutional investors own 98.61% of the company’s stock.

Insider Transactions at A10 Networks

In other A10 Networks news, Director Eric Singer sold 24,698 shares of the firm’s stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $27.21, for a total value of $672,032.58. Following the completion of the sale, the director directly owned 68,806 shares in the company, valued at approximately $1,872,211.26. This trade represents a 26.41% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. BWS Financial increased their target price on shares of A10 Networks from $30.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Piper Sandler set a $45.00 price objective on shares of A10 Networks in a research note on Tuesday, June 16th. Mizuho increased their price objective on shares of A10 Networks from $30.00 to $34.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 15th. Sidoti reissued a “neutral” rating and set a $24.00 target price on shares of A10 Networks in a research note on Monday, April 20th. Finally, Zacks Research lowered shares of A10 Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Two equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $31.29.

A10 Networks Price Performance

A10 Networks stock opened at $33.45 on Tuesday. The stock has a market capitalization of $2.41 billion, a price-to-earnings ratio of 53.96 and a beta of 1.14. A10 Networks, Inc. has a 52-week low of $16.52 and a 52-week high of $38.49. The stock’s 50 day moving average price is $33.55 and its two-hundred day moving average price is $26.07. The company has a debt-to-equity ratio of 0.99, a quick ratio of 3.56 and a current ratio of 3.71.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, April 28th. The communications equipment provider reported $0.24 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.02. A10 Networks had a net margin of 14.90% and a return on equity of 25.00%. The company had revenue of $75.00 million during the quarter, compared to analyst estimates of $72.61 million. During the same quarter in the previous year, the business posted $0.20 EPS. A10 Networks’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts predict that A10 Networks, Inc. will post 0.83 earnings per share for the current year.

A10 Networks Company Profile

A10 Networks, Inc (NYSE: ATEN), headquartered in San Jose, California, designs and sells networking and security solutions that accelerate application performance and protect data across on-premises, cloud and hybrid environments. Founded in 2004, the company’s offerings target enterprises, service providers and cloud operators seeking high availability, secure access and optimized traffic delivery for critical applications.

The company’s core portfolio includes application delivery controllers (ADCs) for load balancing and traffic management, advanced distributed denial-of-service (DDoS) protection appliances, SSL inspection solutions and carrier-grade NAT (CGNAT) platforms.