A10 Networks, Inc. (NYSE:ATEN) Reaches New 1-Year Low Following Insider Selling
A10 Networks, Inc. (NYSE:ATEN)’s share price reached a new 52-week low on Wednesday after an insider sold shares in the company. The stock traded as low as $6.31 and last traded at $6.33, with a volume of 358,422 shares changing hands. The stock had previously closed at $6.49.
Specifically, CEO Lee Chen sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $8.19, for a total transaction of $204,750.00. Following the sale, the chief executive officer now directly owns 10,836,538 shares of the company’s stock, valued at approximately $88,751,246.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert D. Cochran sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $8.13, for a total transaction of $40,650.00. Following the sale, the executive vice president now directly owns 189,662 shares in the company, valued at $1,541,952.06. The disclosure for this sale can be found here. Insiders sold a total of 337,702 shares of company stock worth $2,681,346 over the last ninety days. 34.05% of the stock is currently owned by insiders.
ATEN has been the topic of several analyst reports. Zacks Investment Research raised shares of A10 Networks from a “sell” rating to a “hold” rating in a research report on Tuesday, April 11th. KeyCorp lowered shares of A10 Networks from an “overweight” rating to a “sector weight” rating in a research note on Friday, July 14th. DA Davidson boosted their price objective on shares of A10 Networks to $9.00 and gave the stock a “buy” rating in a research note on Friday, July 14th. Bank of America Corporation lowered their price objective on shares of A10 Networks from $10.00 to $8.50 and set a “buy” rating on the stock in a research note on Friday, July 14th. Finally, BidaskClub lowered shares of A10 Networks from a “hold” rating to a “sell” rating in a research note on Monday, July 24th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $9.60.
The firm has a 50-day moving average of $7.78 and a 200-day moving average of $8.47. The stock’s market cap is $400.81 million.
A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported ($0.04) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. The firm had revenue of $53.69 million during the quarter, compared to analyst estimates of $52.99 million. A10 Networks had a negative net margin of 8.00% and a negative return on equity of 20.33%. The business’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the business posted ($0.02) EPS. Equities research analysts predict that A10 Networks, Inc. will post ($0.08) earnings per share for the current fiscal year.
Large investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of A10 Networks by 17.1% in the first quarter. Vanguard Group Inc. now owns 3,374,761 shares of the communications equipment provider’s stock worth $30,879,000 after buying an additional 493,877 shares during the last quarter. Divisar Capital Management LLC raised its stake in shares of A10 Networks by 27.2% in the first quarter. Divisar Capital Management LLC now owns 1,118,670 shares of the communications equipment provider’s stock worth $10,236,000 after buying an additional 239,118 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of A10 Networks by 26.2% in the first quarter. Acadian Asset Management LLC now owns 950,865 shares of the communications equipment provider’s stock worth $8,701,000 after buying an additional 197,699 shares during the last quarter. Teachers Advisors LLC raised its stake in shares of A10 Networks by 133.0% in the fourth quarter. Teachers Advisors LLC now owns 281,733 shares of the communications equipment provider’s stock worth $2,341,000 after buying an additional 160,815 shares during the last quarter. Finally, Capital Impact Advisors LLC acquired a new stake in shares of A10 Networks during the first quarter worth $1,388,000. Hedge funds and other institutional investors own 57.00% of the company’s stock.
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About A10 Networks
A10 Networks, Inc is a provider of software and hardware solutions. The Company’s solutions enable its customers to secure and optimize the performance of their data center and cloud applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
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