Short Interest in A10 Networks, Inc. (NYSE:ATEN) Declines By 8.9%

A10 Networks, Inc. (NYSE:ATEN) was the recipient of a significant drop in short interest in the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a drop of 8.9% from the October 15th total of 1,350,000 shares. Based on an average daily volume of 553,800 shares, the short-interest ratio is presently 2.2 days. Approximately 1.7% of the shares of the stock are sold short.

Insider Activity at A10 Networks

In related news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $16.70, for a total transaction of $102,905.40. Following the completion of the transaction, the executive vice president now directly owns 23,799 shares of the company’s stock, valued at approximately $397,443.30. The trade was a 20.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 5.82% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ATEN. Canada Pension Plan Investment Board purchased a new position in A10 Networks during the second quarter worth approximately $29,000. Copeland Capital Management LLC purchased a new stake in A10 Networks during the third quarter valued at about $43,000. Quarry LP acquired a new stake in A10 Networks during the second quarter worth about $47,000. Quantbot Technologies LP raised its holdings in shares of A10 Networks by 95.4% in the 3rd quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock worth $82,000 after purchasing an additional 2,762 shares during the period. Finally, nVerses Capital LLC purchased a new position in shares of A10 Networks in the 2nd quarter worth about $105,000. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Craig Hallum downgraded A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target for the company. in a research note on Friday, November 8th. BWS Financial increased their price target on shares of A10 Networks from $17.00 to $24.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research report on Wednesday, October 16th.

A10 Networks Stock Down 0.1 %

Shares of ATEN traded down $0.01 on Tuesday, hitting $16.34. 87,743 shares of the stock traded hands, compared to its average volume of 715,564. A10 Networks has a 1 year low of $11.92 and a 1 year high of $16.92. The stock’s 50 day moving average is $14.61 and its two-hundred day moving average is $14.21. The firm has a market capitalization of $1.21 billion, a P/E ratio of 24.33 and a beta of 1.11.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. The company had revenue of $66.72 million for the quarter, compared to analyst estimates of $63.78 million. A10 Networks had a return on equity of 22.69% and a net margin of 19.29%. The business’s revenue for the quarter was up 15.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.12 EPS. Research analysts forecast that A10 Networks will post 0.65 EPS for the current year.

A10 Networks Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date of this dividend is Monday, November 18th. A10 Networks’s dividend payout ratio is currently 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.