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

by · The Markets Daily

A10 Networks, Inc. (NYSE:ATEN – Get Free Report) was the recipient of a large increase in short interest in February. As of February 28th, there was short interest totalling 1,970,000 shares, an increase of 34.0% from the February 13th total of 1,470,000 shares. Approximately 2.8% of the company’s stock are sold short. Based on an average daily volume of 787,200 shares, the short-interest ratio is currently 2.5 days.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATEN. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a report on Wednesday. BWS Financial restated a “buy” rating and issued a $24.00 target price on shares of A10 Networks in a research note on Wednesday, February 5th. Finally, Craig Hallum raised their price target on shares of A10 Networks from $16.00 to $18.00 and gave the stock a “hold” rating in a research note on Wednesday, February 5th.

Check Out Our Latest Analysis on ATEN

A10 Networks Trading Up 2.8 %

Shares of A10 Networks stock traded up $0.46 during trading hours on Friday, reaching $16.84. 2,838,102 shares of the company’s stock were exchanged, compared to its average volume of 704,235. The company has a 50 day moving average of $19.69 and a two-hundred day moving average of $17.12. The stock has a market cap of $1.25 billion, a P/E ratio of 25.13 and a beta of 1.17. A10 Networks has a fifty-two week low of $12.27 and a fifty-two week high of $21.90.

A10 Networks (NYSE:ATEN – Get Free Report) last posted its quarterly earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.22 by $0.03. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. As a group, analysts expect that A10 Networks will post 0.69 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, March 3rd. Shareholders of record on Friday, February 14th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 1.43%. The ex-dividend date of this dividend was Friday, February 14th. A10 Networks’s dividend payout ratio (DPR) is currently 35.82%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Geode Capital Management LLC lifted its stake in A10 Networks by 5.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,662,442 shares of the communications equipment provider’s stock valued at $24,010,000 after purchasing an additional 89,175 shares during the last quarter. Barclays PLC raised its stake in A10 Networks by 234.1% in the third quarter. Barclays PLC now owns 152,238 shares of the communications equipment provider’s stock valued at $2,198,000 after buying an additional 106,672 shares during the period. SG Americas Securities LLC lifted its position in shares of A10 Networks by 359.3% in the fourth quarter. SG Americas Securities LLC now owns 32,607 shares of the communications equipment provider’s stock valued at $600,000 after buying an additional 25,508 shares during the last quarter. Quest Partners LLC boosted its stake in shares of A10 Networks by 262.1% during the 3rd quarter. Quest Partners LLC now owns 56,245 shares of the communications equipment provider’s stock worth $812,000 after acquiring an additional 40,712 shares during the period. Finally, Principal Financial Group Inc. increased its holdings in shares of A10 Networks by 11.8% during the 3rd quarter. Principal Financial Group Inc. now owns 389,088 shares of the communications equipment provider’s stock worth $5,618,000 after acquiring an additional 41,141 shares during the last quarter. Institutional investors own 98.61% of the company’s stock.

About A10 Networks

(Get Free Report)

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.

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