Migdal Insurance & Financial Holdings Ltd. Cuts Stock Holdings in A10 Networks, Inc. (NYSE:ATEN)

Migdal Insurance & Financial Holdings Ltd. trimmed its holdings in shares of A10 Networks, Inc. (NYSE:ATEN) by 10.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,529 shares of the communications equipment provider’s stock after selling 2,926 shares during the period. Migdal Insurance & Financial Holdings Ltd.’s holdings in A10 Networks were worth $336,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ATEN. Osaic Holdings Inc. boosted its holdings in shares of A10 Networks by 44.3% during the second quarter. Osaic Holdings Inc. now owns 2,419 shares of the communications equipment provider’s stock worth $35,000 after purchasing an additional 743 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of A10 Networks by 113.8% during the fourth quarter. Advisors Asset Management Inc. now owns 2,189 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 1,165 shares during the period. Ensign Peak Advisors Inc purchased a new stake in shares of A10 Networks during the first quarter worth about $41,000. Advisor Group Holdings Inc. boosted its holdings in shares of A10 Networks by 59.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 2,527 shares of the communications equipment provider’s stock worth $42,000 after purchasing an additional 944 shares during the period. Finally, Great West Life Assurance Co. Can boosted its holdings in shares of A10 Networks by 97.4% during the first quarter. Great West Life Assurance Co. Can now owns 2,984 shares of the communications equipment provider’s stock worth $44,000 after purchasing an additional 1,472 shares during the period. 98.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, BWS Financial increased their target price on shares of A10 Networks from $15.00 to $17.00 and gave the stock a “buy” rating in a report on Wednesday, February 7th.

A10 Networks Stock Performance

Shares of NYSE ATEN opened at $12.86 on Friday. A10 Networks, Inc. has a fifty-two week low of $10.03 and a fifty-two week high of $15.99. The company has a 50 day simple moving average of $13.45 and a two-hundred day simple moving average of $12.84. The company has a market capitalization of $958.07 million, a price-to-earnings ratio of 24.26 and a beta of 1.10.

A10 Networks (NYSE:ATEN) last announced its earnings results on Tuesday, February 6th. The communications equipment provider reported $0.22 earnings per share for the quarter, missing analysts’ consensus estimates of $0.23 by ($0.01). A10 Networks had a net margin of 15.88% and a return on equity of 21.67%. The business had revenue of $70.42 million for the quarter, compared to the consensus estimate of $76.95 million. On average, analysts forecast that A10 Networks, Inc. will post 0.66 earnings per share for the current fiscal year.

A10 Networks Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 1st. Shareholders of record on Friday, February 16th were paid a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 1.87%. The ex-dividend date of this dividend was Thursday, February 15th. A10 Networks’s dividend payout ratio is 45.28%.

Insider Activity at A10 Networks

In related news, CFO Brian Becker sold 4,348 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.21, for a total transaction of $57,437.08. Following the completion of the sale, the chief financial officer now owns 51,299 shares of the company’s stock, valued at $677,659.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Dhrupad Trivedi sold 8,679 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $13.06, for a total transaction of $113,347.74. Following the completion of the sale, the chief executive officer now owns 556,420 shares of the company’s stock, valued at $7,266,845.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian Becker sold 4,348 shares of the firm’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $13.21, for a total transaction of $57,437.08. Following the sale, the chief financial officer now directly owns 51,299 shares of the company’s stock, valued at approximately $677,659.79. The disclosure for this sale can be found here. Insiders sold 152,828 shares of company stock valued at $2,032,990 over the last 90 days. Corporate insiders own 5.81% of the company’s stock.

A10 Networks 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.