A10 Networks (NYSE:ATEN) Shares Gap Up – Here’s Why

A10 Networks, Inc. (NYSE:ATEN) shares gapped up prior to trading on Monday . The stock had previously closed at $16.86, but opened at $17.76. A10 Networks shares last traded at $17.58, with a volume of 476,318 shares trading hands.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. StockNews.com raised A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Craig Hallum boosted their price objective on A10 Networks from $16.00 to $18.00 and gave the company a “hold” rating in a research note on Wednesday, February 5th. Finally, BWS Financial reiterated a “buy” rating and set a $24.00 price target on shares of A10 Networks in a research note on Wednesday, February 5th.

A10 Networks Stock Up 2.3 %

The company has a fifty day moving average of $19.69 and a two-hundred day moving average of $17.14. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 25.77 and a beta of 1.17.

A10 Networks (NYSE:ATEN) last released its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 EPS for the quarter, topping the consensus estimate of $0.22 by $0.03. A10 Networks had a net margin of 19.16% and a return on equity of 23.44%. Equities analysts anticipate that A10 Networks, Inc. will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 3rd. Investors of record on Friday, February 14th were given a $0.06 dividend. The ex-dividend date of this dividend was Friday, February 14th. This represents a $0.24 annualized dividend and a dividend yield of 1.39%. A10 Networks’s dividend payout ratio is presently 35.82%.

Institutional Trading of A10 Networks

Several institutional investors and hedge funds have recently made changes to their positions in ATEN. MassMutual Private Wealth & Trust FSB boosted its stake in shares of A10 Networks by 3,389.8% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,059 shares of the communications equipment provider’s stock worth $38,000 after purchasing an additional 2,000 shares during the last quarter. GAMMA Investing LLC grew its position in shares of A10 Networks by 43.5% in the fourth quarter. GAMMA Investing LLC now owns 2,456 shares of the communications equipment provider’s stock valued at $45,000 after purchasing an additional 744 shares during the period. Sunbelt Securities Inc. purchased a new position in A10 Networks during the fourth quarter worth about $50,000. Quantbot Technologies LP boosted its stake in 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 buying an additional 2,762 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of A10 Networks by 79.1% during the 4th quarter. KBC Group NV now owns 5,096 shares of the communications equipment provider’s stock valued at $94,000 after acquiring an additional 2,251 shares during the last quarter. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

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.