Meritage Portfolio Management Grows Holdings in A10 Networks, Inc. (NYSE:ATEN)

Meritage Portfolio Management grew its stake in shares of A10 Networks, Inc. (NYSE:ATEN) by 12.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,403 shares of the communications equipment provider’s stock after purchasing an additional 4,140 shares during the quarter. Meritage Portfolio Management owned approximately 0.05% of A10 Networks worth $688,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in ATEN. MassMutual Private Wealth & Trust FSB grew its stake in A10 Networks by 3,389.8% in the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 2,059 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 2,000 shares in the last quarter. Copeland Capital Management LLC bought a new stake in shares of A10 Networks in the third quarter valued at about $43,000. GAMMA Investing LLC raised its holdings in shares of A10 Networks by 43.5% in the fourth quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider’s stock valued at $45,000 after acquiring an additional 744 shares in the last quarter. Quantbot Technologies LP increased its position in A10 Networks by 95.4% during the 3rd quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock valued at $82,000 after purchasing an additional 2,762 shares during the period. Finally, KBC Group NV increased its position in A10 Networks by 79.1% during the 4th quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider’s stock valued at $94,000 after purchasing an additional 2,251 shares during the period. Hedge funds and other institutional investors own 98.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ATEN shares. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of A10 Networks in a research note on Wednesday. Craig Hallum increased their target price on A10 Networks from $16.00 to $18.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, StockNews.com raised A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

Insider Activity at A10 Networks

In related news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the completion of the sale, the executive vice president now directly owns 23,799 shares in the company, valued at $397,443.30. This trade represents a 20.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 5.82% of the stock is currently owned by corporate insiders.

A10 Networks Stock Performance

NYSE:ATEN opened at $20.82 on Thursday. The stock has a market capitalization of $1.54 billion, a P/E ratio of 31.07 and a beta of 1.14. The company’s 50-day simple moving average is $18.58 and its 200-day simple moving average is $15.76. A10 Networks, Inc. has a fifty-two week low of $12.27 and a fifty-two week high of $20.89.

A10 Networks (NYSE:ATEN) last announced its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 earnings per share for the quarter, beating the consensus estimate of $0.22 by $0.03. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. On average, research analysts forecast that A10 Networks, Inc. will post 0.6 EPS for the current year.

A10 Networks Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 3rd. Investors of record on Friday, February 14th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Friday, February 14th. This represents a $0.24 annualized dividend and a yield of 1.15%. A10 Networks’s dividend payout ratio (DPR) is 35.82%.

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.