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

Weiss Asset Management LP bought a new stake in A10 Networks, Inc. (NYSE:ATEN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 21,630 shares of the communications equipment provider’s stock, valued at approximately $500,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Aster Capital Management DIFC Ltd bought a new position in A10 Networks in the fourth quarter valued at approximately $26,000. Farther Finance Advisors LLC lifted its stake in A10 Networks by 92.4% during the fourth quarter. Farther Finance Advisors LLC now owns 2,255 shares of the communications equipment provider’s stock worth $40,000 after purchasing an additional 1,083 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in A10 Networks by 4,621.6% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,408 shares of the communications equipment provider’s stock worth $43,000 after purchasing an additional 2,357 shares during the last quarter. Clearstead Advisors LLC boosted its holdings in shares of A10 Networks by 2,829.4% in the 4th quarter. Clearstead Advisors LLC now owns 2,490 shares of the communications equipment provider’s stock valued at $44,000 after purchasing an additional 2,405 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of A10 Networks by 14.1% in the 1st quarter. PNC Financial Services Group Inc. now owns 3,938 shares of the communications equipment provider’s stock valued at $91,000 after purchasing an additional 488 shares in the last quarter. 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 stock in a transaction dated Tuesday, May 5th. The stock was sold at an average price of $27.21, for a total value of $672,032.58. Following the completion of the transaction, 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 Securities & Exchange Commission, which can be accessed through this link. 1.21% of the stock is currently owned by insiders.

A10 Networks Stock Performance

NYSE ATEN opened at $33.45 on Tuesday. The firm’s fifty day moving average price is $33.55 and its two-hundred day moving average price is $26.07. The stock has a market cap of $2.41 billion, a PE ratio of 53.96 and a beta of 1.14. 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, Inc. has a fifty-two week low of $16.52 and a fifty-two week high of $38.49.

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Zacks Research cut A10 Networks from a “strong-buy” rating to a “hold” rating in a report on Monday, June 29th. Wall Street Zen lowered A10 Networks from a “buy” rating to a “hold” rating in a research note on Saturday, June 20th. BTIG Research lifted their target price on A10 Networks from $30.00 to $37.00 and gave the company a “buy” rating in a research report on Thursday, June 18th. Weiss Ratings raised A10 Networks from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, June 24th. Finally, BWS Financial increased their target price on shares of A10 Networks from $30.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Two analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $31.29.

A10 Networks 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.