A10 Networks Inc. (ATEN) Downgraded to Hold at Zacks Investment Research
According to Zacks, “A10 Networks, Inc. provides software based application networking solutions. Its solutions enable enterprises, service providers, Web giants, and government organizations to enhance, secure, and optimize the performance of their data center applications and networks. The company delivers its solutions on optimized hardware appliances and as virtual appliances across its Thunder Series and AX Series product families. A10 Networks, Inc. is headquartered in San Jose, California. “
Other equities analysts have also issued research reports about the stock. Dougherty & Co upped their target price on shares of A10 Networks from $9.00 to $11.00 and gave the stock a buy rating in a research report on Monday, August 29th. Oppenheimer Holdings Inc. restated an outperform rating and set a $9.00 target price (up previously from $8.00) on shares of A10 Networks in a research report on Tuesday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. A10 Networks currently has a consensus rating of Buy and a consensus target price of $8.92.
Shares of A10 Networks (NYSE:ATEN) opened at 10.60 on Wednesday. A10 Networks has a 52-week low of $4.84 and a 52-week high of $10.65. The stock’s 50 day moving average is $9.79 and its 200 day moving average is $7.35. The stock’s market cap is $625.72 million.
A10 Networks (NYSE:ATEN) last issued its earnings results on Thursday, July 28th. The company reported ($0.02) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.05) by $0.03. A10 Networks had a negative net margin of 14.10% and a negative return on equity of 37.97%. The firm earned $57.10 million during the quarter, compared to analyst estimates of $56.07 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. A10 Networks’s revenue for the quarter was up 20.2% on a year-over-year basis. Equities research analysts forecast that A10 Networks will post ($0.09) earnings per share for the current year.
In related news, VP Robert D. Cochran sold 25,000 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $7.86, for a total value of $196,500.00. Following the transaction, the vice president now owns 153,728 shares of the company’s stock, valued at approximately $1,208,302.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert D. Cochran sold 7,000 shares of the firm’s stock in a transaction dated Thursday, September 1st. The stock was sold at an average price of $9.91, for a total transaction of $69,370.00. Following the completion of the transaction, the vice president now directly owns 146,728 shares in the company, valued at approximately $1,454,074.48. The disclosure for this sale can be found here. 34.05% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Swiss National Bank increased its position in A10 Networks by 23.8% in the second quarter. Swiss National Bank now owns 76,400 shares of the company’s stock worth $494,000 after buying an additional 14,700 shares during the period. California State Teachers Retirement System increased its position in A10 Networks by 28.6% in the second quarter. California State Teachers Retirement System now owns 92,430 shares of the company’s stock worth $598,000 after buying an additional 20,577 shares during the period. Bank of New York Mellon Corp increased its position in A10 Networks by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 186,710 shares of the company’s stock worth $1,208,000 after buying an additional 9,808 shares during the period. American Century Companies Inc. acquired a new position in A10 Networks during the second quarter worth approximately $589,000. Finally, Bank of Montreal Can acquired a new position in A10 Networks during the second quarter worth approximately $183,000. 46.70% of the stock is currently owned by institutional investors.
A10 Networks Company Profile
A10 Networks, Inc is a provider of application networking and network security technologies. The Company’s solutions enable enterprises, service providers, Web companies and government organizations to secure and optimize the performance of their data center applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
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