A10 Networks, Inc. (NYSE:ATEN) Short Interest Down 8.9% in October

A10 Networks, Inc. (NYSE:ATEN) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 1,230,000 shares, a decrease of 8.9% from the October 15th total of 1,350,000 shares. Based on an average daily volume of 553,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.7% of the shares of the company are short sold.

Insider Activity

In other A10 Networks news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total value of $102,905.40. Following the sale, the executive vice president now directly owns 23,799 shares in the company, valued at approximately $397,443.30. The trade was a 20.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 5.82% of the company’s stock.

Hedge Funds Weigh In On A10 Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Canada Pension Plan Investment Board acquired a new position in A10 Networks in the second quarter worth approximately $29,000. Copeland Capital Management LLC bought a new stake in A10 Networks in the third quarter worth $43,000. Quarry LP bought a new position in A10 Networks during the second quarter valued at about $47,000. Quantbot Technologies LP grew its holdings in A10 Networks by 95.4% during the third quarter. Quantbot Technologies LP now owns 5,657 shares of the communications equipment provider’s stock valued at $82,000 after purchasing an additional 2,762 shares during the last quarter. Finally, nVerses Capital LLC bought a new position in shares of A10 Networks in the second quarter worth about $105,000. 98.61% of the stock is owned by institutional investors.

A10 Networks Price Performance

NYSE:ATEN traded down $0.02 on Tuesday, reaching $16.33. The stock had a trading volume of 72,772 shares, compared to its average volume of 715,473. The company has a market cap of $1.21 billion, a price-to-earnings ratio of 24.33 and a beta of 1.11. A10 Networks has a 12-month low of $11.92 and a 12-month high of $16.92. The firm’s fifty day moving average is $14.61 and its two-hundred day moving average is $14.21.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Thursday, November 7th. The communications equipment provider reported $0.21 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.02. A10 Networks had a net margin of 19.29% and a return on equity of 22.69%. The firm had revenue of $66.72 million during the quarter, compared to analysts’ expectations of $63.78 million. During the same period in the prior year, the company earned $0.12 EPS. The firm’s revenue was up 15.5% on a year-over-year basis. As a group, research analysts forecast that A10 Networks will post 0.65 earnings per share 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 issued a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Monday, November 18th. A10 Networks’s dividend payout ratio (DPR) is 35.82%.

Analyst Ratings Changes

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

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.