A10 Networks, Inc. (NYSE:ATEN) was downgraded by stock analysts at KeyCorp from an “overweight” rating to a “sector weight” rating in a report released on Friday, July 14th, Marketbeat Ratings reports.

Separately, Zacks Investment Research downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $9.60.

Shares of A10 Networks (NYSE ATEN) traded down 1.33% during mid-day trading on Friday, hitting $6.70. 438,582 shares of the stock traded hands. A10 Networks has a 12 month low of $6.09 and a 12 month high of $10.87. The firm has a 50 day moving average of $7.64 and a 200 day moving average of $8.44. The stock’s market cap is $395.50 million.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported ($0.04) EPS for the quarter, beating the consensus estimate of ($0.10) by $0.06. The business had revenue of $53.69 million for the quarter, compared to the consensus estimate 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 revenue for the quarter was down 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.02) EPS. On average, equities analysts expect that A10 Networks will post ($0.08) EPS for the current fiscal year.

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In related news, CEO Lee Chen sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $8.15, for a total transaction of $203,750.00. Following the completion of the sale, the chief executive officer now directly owns 10,811,538 shares in the company, valued at $88,114,034.70. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raymond J. Smets sold 6,890 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $8.16, for a total transaction of $56,222.40. Following the sale, the executive vice president now owns 169,060 shares of the company’s stock, valued at $1,379,529.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 312,702 shares of company stock worth $2,476,596. Insiders own 34.05% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the company. Essex Investment Management Co. LLC purchased a new stake in A10 Networks during the first quarter valued at about $1,282,000. Acadian Asset Management LLC raised its position 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 valued at $8,701,000 after buying an additional 197,699 shares during the period. Boston Advisors LLC bought a new position in shares of A10 Networks during the first quarter valued at $799,000. Capital Impact Advisors LLC bought a new position in shares of A10 Networks during the first quarter valued at $1,388,000. Finally, Highbridge Capital Management LLC raised its position in shares of A10 Networks by 34.5% in the fourth quarter. Highbridge Capital Management LLC now owns 24,888 shares of the communications equipment provider’s stock valued at $207,000 after buying an additional 6,386 shares during the period. Hedge funds and other institutional investors own 57.00% of the company’s stock.

A10 Networks Company Profile

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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