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Louisiana State Employees Retirement System Buys Shares of 31,700 A10 Networks, Inc. (NYSE:ATEN)

Defense World · Jan 11, 2023 04:21

Louisiana State Employees Retirement System bought a new stake in A10 Networks, Inc. (NYSE:ATEN – Get Rating) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 31,700 shares of the communications equipment provider's stock, valued at approximately $421,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. raised its holdings in shares of A10 Networks by 11.6% during the first quarter. JPMorgan Chase & Co. now owns 1,014,465 shares of the communications equipment provider's stock valued at $14,151,000 after buying an additional 105,120 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in A10 Networks by 8.1% during the first quarter. Bank of New York Mellon Corp now owns 1,971,858 shares of the communications equipment provider's stock worth $27,508,000 after purchasing an additional 148,301 shares in the last quarter. American Century Companies Inc. bought a new stake in A10 Networks during the first quarter worth approximately $141,000. US Bancorp DE raised its holdings in A10 Networks by 50.7% during the first quarter. US Bancorp DE now owns 35,999 shares of the communications equipment provider's stock worth $502,000 after purchasing an additional 12,112 shares in the last quarter. Finally, MetLife Investment Management LLC raised its holdings in A10 Networks by 55.4% during the first quarter. MetLife Investment Management LLC now owns 32,698 shares of the communications equipment provider's stock worth $456,000 after purchasing an additional 11,660 shares in the last quarter. 88.86% of the stock is currently owned by institutional investors and hedge funds.

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A10 Networks Stock Performance

NYSE ATEN opened at $15.81 on Wednesday. The stock has a market capitalization of $1.16 billion, a P/E ratio of 31.62 and a beta of 1.02. A10 Networks, Inc. has a 1 year low of $12.27 and a 1 year high of $19.79. The business's fifty day moving average is $17.73 and its two-hundred day moving average is $15.66.

A10 Networks (NYSE:ATEN – Get Rating) last posted its quarterly earnings results on Tuesday, November 1st. The communications equipment provider reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $72.06 million during the quarter, compared to the consensus estimate of $69.96 million. A10 Networks had a net margin of 14.49% and a return on equity of 20.73%. On average, research analysts forecast that A10 Networks, Inc. will post 0.53 earnings per share for the current year.

A10 Networks Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, December 1st. Shareholders of record on Tuesday, November 15th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.52%. This is a boost from A10 Networks's previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Monday, November 14th. A10 Networks's payout ratio is presently 48.00%.

Insiders Place Their Bets

In other A10 Networks news, EVP Matthew P. Bruening sold 5,143 shares of A10 Networks stock in a transaction that occurred on Thursday, November 3rd. The shares were sold at an average price of $17.71, for a total transaction of $91,082.53. Following the transaction, the executive vice president now directly owns 120,775 shares in the company, valued at approximately $2,138,925.25. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, CEO Dhrupad Trivedi sold 15,079 shares of the business's stock in a transaction on Tuesday, December 6th. The shares were sold at an average price of $18.84, for a total transaction of $284,088.36. Following the transaction, the chief executive officer now directly owns 500,956 shares in the company, valued at approximately $9,438,011.04. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Matthew P. Bruening sold 5,143 shares of the business's stock in a transaction on Thursday, November 3rd. The shares were sold at an average price of $17.71, for a total transaction of $91,082.53. Following the transaction, the executive vice president now owns 120,775 shares in the company, valued at $2,138,925.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 85,763 shares of company stock worth $1,555,514. Corporate insiders own 14.22% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ATEN. BWS Financial boosted their target price on A10 Networks from $20.00 to $24.00 and gave the stock a "buy" rating in a report on Wednesday, November 2nd. StockNews.com raised A10 Networks from a "hold" rating to a "buy" rating in a report on Thursday, November 10th.

A10 Networks Profile

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A10 Networks, Inc provides networking solutions in the Americas, Japan, other Asia Pacific, and EMEA countries. The company offers Thunder Application Delivery Controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and microservices; and Thunder Carrier Grade Networking product, which offers standards-compliant address and protocol translation services for service provider networks.