Sawgrass Asset Management LLC Sells 8,284 Shares of A10 Networks, Inc. (NYSE:ATEN)

Sawgrass Asset Management LLC reduced its stake in A10 Networks, Inc. (NYSE:ATEN) by 40.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,146 shares of the communications equipment provider’s stock after selling 8,284 shares during the quarter. Sawgrass Asset Management LLC’s holdings in A10 Networks were worth $160,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently modified their holdings of the stock. Quantbot Technologies LP bought a new stake in shares of A10 Networks in the third quarter worth $181,000. Meeder Asset Management Inc. bought a new stake in shares of A10 Networks in the 4th quarter valued at approximately $163,000. Harbor Capital Advisors Inc. boosted its stake in A10 Networks by 6.5% during the fourth quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock worth $176,000 after buying an additional 816 shares during the period. Teza Capital Management LLC bought a new position in A10 Networks during the third quarter valued at $227,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its position in A10 Networks by 65.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,595 shares of the communications equipment provider’s stock valued at $234,000 after acquiring an additional 6,161 shares during the last quarter. 98.61% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Dhrupad Trivedi sold 60,606 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total value of $804,241.62. Following the completion of the sale, the chief executive officer now directly owns 495,814 shares in the company, valued at $6,579,451.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other A10 Networks news, CEO Dhrupad Trivedi sold 60,606 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total transaction of $804,241.62. Following the completion of the transaction, the chief executive officer now directly owns 495,814 shares in the company, valued at $6,579,451.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Brian Becker sold 15,000 shares of A10 Networks stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $12.93, for a total transaction of $193,950.00. Following the completion of the sale, the chief financial officer now owns 34,252 shares in the company, valued at approximately $442,878.36. The disclosure for this sale can be found here. Insiders own 5.82% of the company’s stock.

A10 Networks Price Performance

Shares of NYSE:ATEN traded down $0.04 during trading hours on Tuesday, hitting $15.51. The company’s stock had a trading volume of 481,643 shares, compared to its average volume of 668,946. The firm’s fifty day moving average price is $13.72 and its 200 day moving average price is $13.07. A10 Networks, Inc. has a 52 week low of $10.03 and a 52 week high of $15.99. The company has a market capitalization of $1.16 billion, a price-to-earnings ratio of 25.43 and a beta of 1.13.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.15 by $0.02. The company had revenue of $60.70 million for the quarter, compared to the consensus estimate of $59.43 million. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the company earned $0.09 earnings per share. On average, equities research analysts predict that A10 Networks, Inc. will post 0.66 earnings per share for the current fiscal year.

A10 Networks Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 3rd. Stockholders of record on Wednesday, May 15th will be paid a dividend of $0.06 per share. The ex-dividend date of this dividend is Tuesday, May 14th. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.55%. A10 Networks’s payout ratio is 39.34%.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Craig Hallum upped their price target on shares of A10 Networks from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. BWS Financial reaffirmed a “buy” rating and set a $17.00 target price on shares of A10 Networks in a research note on Wednesday, May 1st.

A10 Networks Company Profile

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.