A10 Networks, Inc. (NYSE:ATEN) Sees Significant Increase in Short Interest

A10 Networks, Inc. (NYSE:ATEN) was the recipient of a large increase in short interest during the month of March. As of March 31st, there was short interest totalling 3,360,000 shares, an increase of 30.2% from the March 15th total of 2,580,000 shares. Based on an average daily volume of 696,500 shares, the days-to-cover ratio is currently 4.8 days. Currently, 4.9% of the shares of the company are short sold.

A10 Networks Trading Up 0.2 %

NYSE:ATEN traded up $0.02 during trading hours on Monday, hitting $13.12. The stock had a trading volume of 108,476 shares, compared to its average volume of 670,739. A10 Networks has a 1-year low of $10.03 and a 1-year high of $15.99. The business has a 50 day simple moving average of $13.45 and a two-hundred day simple moving average of $12.87. The company has a market cap of $977.44 million, a PE ratio of 24.72 and a beta of 1.10.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Tuesday, February 6th. The communications equipment provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). A10 Networks had a return on equity of 21.67% and a net margin of 15.88%. The company had revenue of $70.42 million for the quarter, compared to analyst estimates of $76.95 million. Research analysts expect that A10 Networks will post 0.66 EPS for the current fiscal year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 1st. Investors of record on Friday, February 16th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.83%. The ex-dividend date of this dividend was Thursday, February 15th. A10 Networks’s dividend payout ratio (DPR) is presently 45.28%.

Insider Activity at A10 Networks

In other A10 Networks news, CEO Dhrupad Trivedi sold 21,498 shares of the business’s stock in a transaction on Monday, January 29th. The shares were sold at an average price of $13.58, for a total value of $291,942.84. Following the transaction, the chief executive officer now directly owns 461,507 shares of the company’s stock, valued at approximately $6,267,265.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other A10 Networks news, CFO Brian Becker sold 15,000 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $12.93, for a total value of $193,950.00. Following the transaction, the chief financial officer now directly owns 34,252 shares in the company, valued at approximately $442,878.36. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Dhrupad Trivedi sold 21,498 shares of the stock in a transaction dated Monday, January 29th. The stock was sold at an average price of $13.58, for a total transaction of $291,942.84. Following the transaction, the chief executive officer now owns 461,507 shares in the company, valued at $6,267,265.06. The disclosure for this sale can be found here. Insiders sold a total of 152,828 shares of company stock worth $2,032,990 in the last 90 days. 5.82% of the stock is owned by insiders.

Hedge Funds Weigh In On A10 Networks

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in A10 Networks by 2.7% in the third quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock valued at $104,697,000 after buying an additional 185,362 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in A10 Networks by 37.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after buying an additional 676,509 shares during the last quarter. Verity Asset Management Inc. lifted its stake in A10 Networks by 1.7% in the third quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock valued at $1,378,000 after buying an additional 1,515 shares during the last quarter. Qube Research & Technologies Ltd lifted its stake in A10 Networks by 38.2% in the third quarter. Qube Research & Technologies Ltd now owns 158,383 shares of the communications equipment provider’s stock valued at $2,380,000 after buying an additional 43,781 shares during the last quarter. Finally, Penserra Capital Management LLC lifted its stake in A10 Networks by 140.7% in the third quarter. Penserra Capital Management LLC now owns 517,002 shares of the communications equipment provider’s stock valued at $7,770,000 after buying an additional 302,203 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, BWS Financial increased their price objective on shares of A10 Networks from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th.

About A10 Networks

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.