Quest Partners LLC Acquires 40,712 Shares of A10 Networks, Inc. (NYSE:ATEN)

Quest Partners LLC grew its holdings in A10 Networks, Inc. (NYSE:ATEN) by 262.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 56,245 shares of the communications equipment provider’s stock after buying an additional 40,712 shares during the quarter. Quest Partners LLC owned approximately 0.08% of A10 Networks worth $812,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. increased its stake in shares of A10 Networks by 43,184.1% in the 2nd quarter. Pacer Advisors Inc. now owns 1,728,336 shares of the communications equipment provider’s stock valued at $23,937,000 after buying an additional 1,724,343 shares during the period. Millennium Management LLC acquired a new stake in A10 Networks in the second quarter worth about $9,562,000. Harbor Capital Advisors Inc. raised its holdings in A10 Networks by 175.0% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 795,628 shares of the communications equipment provider’s stock worth $11,489,000 after purchasing an additional 506,332 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in A10 Networks by 48.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 946,894 shares of the communications equipment provider’s stock valued at $13,114,000 after purchasing an additional 308,000 shares during the period. Finally, Cubist Systematic Strategies LLC bought a new position in shares of A10 Networks in the 2nd quarter valued at about $4,058,000. 98.61% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on ATEN. StockNews.com raised shares of A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. Craig Hallum downgraded A10 Networks from a “buy” rating to a “hold” rating and set a $16.00 price target on the stock. in a research note on Friday, November 8th. Finally, BWS Financial lifted their price objective on A10 Networks from $17.00 to $24.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th.

A10 Networks Price Performance

A10 Networks stock opened at $16.60 on Friday. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of 24.78 and a beta of 1.11. The company’s 50 day simple moving average is $14.74 and its 200 day simple moving average is $14.23. A10 Networks, Inc. has a fifty-two week low of $12.07 and a fifty-two week high of $16.92.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.19 by $0.02. The company had revenue of $66.72 million during the quarter, compared to analyst estimates of $63.78 million. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The firm’s revenue was up 15.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 EPS. As a group, analysts predict that A10 Networks, Inc. will post 0.6 EPS for the current fiscal year.

A10 Networks Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 18th will be given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Monday, November 18th. A10 Networks’s dividend payout ratio is currently 35.82%.

Insider Activity

In related news, EVP Karen S. Thomas sold 6,162 shares of the firm’s stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.81% of the stock is currently owned by company insiders.

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.