A10 Networks, Inc. (NYSE:ATEN – Get Free Report) announced a quarterly dividend on Thursday, November 5th. Investors of record on Monday, November 16th will be given a dividend of $0.06 per share by the communications equipment provider on Tuesday, December 1st. This represents a $0.24 annualized dividend and a yield of 1.1%. The ex-dividend date is Monday, November 16th.
A10 Networks has a dividend payout ratio of 24.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect A10 Networks to earn $0.91 per share next year, which means the company should continue to be able to cover its $0.24 annual dividend with an expected future payout ratio of 26.4%.
A10 Networks Stock Down 5.3%
Shares of NYSE ATEN opened at $22.55 on Friday. The firm’s 50-day moving average price is $25.96 and its two-hundred day moving average price is $26.55. A10 Networks has a 52-week low of $16.52 and a 52-week high of $38.49. The stock has a market capitalization of $1.64 billion, a P/E ratio of 33.53 and a beta of 0.99.
A10 Networks (NYSE:ATEN – Get Free Report) last issued its earnings results on Thursday, November 5th. The communications equipment provider reported $0.31 EPS for the quarter, beating analysts’ consensus estimates of $0.27 by $0.04. The company had revenue of $91.55 million during the quarter, compared to the consensus estimate of $83.88 million. A10 Networks had a return on equity of 23.63% and a net margin of 13.85%. A10 Networks’s quarterly revenue was up 22.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.23 earnings per share. As a group, equities research analysts expect that A10 Networks will post 0.81 earnings per share for the current year.
Insiders Place Their Bets
In related news, General Counsel Robert Weber sold 14,086 shares of the firm’s stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $27.86, for a total value of $392,435.96. Following the completion of the transaction, the general counsel owned 50,586 shares of the company’s stock, valued at approximately $1,409,325.96. This trade represents a 21.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Dana Wolf sold 2,652 shares of A10 Networks stock in a transaction that occurred on Tuesday, August 25th. The stock was sold at an average price of $25.65, for a total transaction of $68,023.80. Following the transaction, the director owned 57,409 shares in the company, valued at approximately $1,472,540.85. The trade was a 4.42% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 1.21% of the company’s stock.
Institutional Trading of A10 Networks
Several hedge funds and other institutional investors have recently modified their holdings of the business. BlackRock Inc. acquired a new position in A10 Networks during the second quarter valued at $506,919,000. Walleye Capital LLC purchased a new stake in A10 Networks in the 1st quarter worth about $115,600,000. Boston Trust Walden Corp boosted its position in A10 Networks by 24.9% during the 3rd quarter. Boston Trust Walden Corp now owns 3,018,750 shares of the communications equipment provider’s stock worth $81,838,000 after acquiring an additional 601,942 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in A10 Networks by 36.7% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 1,497,144 shares of the communications equipment provider’s stock worth $34,614,000 after acquiring an additional 401,857 shares during the period. Finally, Punch & Associates Investment Management Inc. boosted its position in A10 Networks by 1.7% during the 1st quarter. Punch & Associates Investment Management Inc. now owns 1,459,910 shares of the communications equipment provider’s stock worth $33,753,000 after acquiring an additional 24,284 shares during the period. Institutional investors and hedge funds own 98.61% of the company’s stock.
A10 Networks Company Profile
A10 Networks, Inc is a cybersecurity and networking company that provides solutions designed to improve the availability, performance, and security of applications and digital services. Its offerings help organizations manage application traffic, protect networks from cyberattacks, and support secure access across data centers, private clouds, public clouds, and hybrid environments.
The company’s portfolio includes application delivery controllers, distributed denial-of-service (DDoS) protection, secure application services, carrier-grade networking solutions, and centralized management and analytics tools.
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