SAN JOSE, CA—Robert Scott Weber, General Counsel of A10 Networks, Inc. (NYSE:ATEN), recently sold 812 shares of the company's common stock. The transaction, which took place on December 6, 2024, was executed at a price of $18.19 per share, totaling approximately $14,770. The sale comes as A10 Networks, with a market capitalization of $1.36 billion, trades near its 52-week high, having delivered impressive returns of 40% year-to-date. According to InvestingPro analysis, the company currently appears to be trading above its Fair Value.
Following this sale, Weber retains direct ownership of 28,230 shares in the company. This total includes an additional 773 shares acquired through A10 Networks' Employee Stock Purchase Plan on November 30, 2024. InvestingPro subscribers can access 15+ additional investment tips and a comprehensive Pro Research Report, offering deeper insights into A10 Networks' financial health, which currently rates as GOOD based on multiple financial metrics.
In other recent news, A10 Networks announced the impending departure of its Executive Vice President of Worldwide Sales and Marketing, Karen Thomas. Despite this change, the company does not anticipate any operational disruptions. A10 Networks has also reported significant growth in its Q3 revenue, marking a year-over-year increase of 15.5% to $66.7 million. This rise in revenue has been attributed to the company's focus on diversification and security-led solutions.
A10 Networks also demonstrated its financial health by announcing a quarterly cash dividend of $0.06 per share. The company's non-GAAP net income for the quarter reached $15.9 million, or $0.21 per diluted share. As part of its ongoing strategy, A10 Networks is expanding its security offerings and integrating AI capabilities.
The company projects a 10% to 12% growth in its security-led business and aims to maintain an adjusted EBITDA margin between 26% to 28% for the full year. These recent developments reflect A10 Networks' continued growth and commitment to shareholder value.
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