A10 Networks, Inc. (NYSE:ATEN) Stake Cut by Smith Asset Management Group LP
Smith Asset Management Group LP lowered its position in A10 Networks, Inc. (NYSE:ATEN) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 137,090 shares of the communications equipment provider’s stock after selling 2,300 shares during the period. Smith Asset Management Group LP owned 0.23% of A10 Networks worth $1,157,000 as of its most recent filing with the SEC.
Other hedge funds have also modified their holdings of the company. Campbell & CO Investment Adviser LLC increased its stake in shares of A10 Networks by 1.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 11,826 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 146 shares during the last quarter. Gotham Asset Management LLC acquired a new stake in shares of A10 Networks during the first quarter worth $103,000. Airain ltd acquired a new stake in shares of A10 Networks during the first quarter worth $112,000. KCG Holdings Inc. acquired a new stake in shares of A10 Networks during the first quarter worth $115,000. Finally, US Bancorp DE increased its stake in shares of A10 Networks by 618.0% in the first quarter. US Bancorp DE now owns 15,939 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 13,719 shares during the last quarter. Hedge funds and other institutional investors own 53.59% of the company’s stock.
Shares of A10 Networks, Inc. (NYSE:ATEN) opened at 6.31 on Monday. The firm’s market capitalization is $372.48 million. A10 Networks, Inc. has a 52 week low of $6.09 and a 52 week high of $10.86. The stock has a 50 day moving average price of $7.38 and a 200 day moving average price of $8.38.
A10 Networks (NYSE:ATEN) last issued its earnings results on Thursday, July 27th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.06. The firm 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 was down 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.02) earnings per share. Analysts forecast that A10 Networks, Inc. will post ($0.08) EPS for the current year.
A number of analysts have weighed in on the company. Bank of America Corporation decreased their price target on A10 Networks from $10.00 to $8.50 and set a “buy” rating for the company in a report on Friday, July 14th. DA Davidson increased their price target on A10 Networks to $9.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Zacks Investment Research downgraded A10 Networks from a “buy” rating to a “hold” rating in a report on Wednesday, May 10th. KeyCorp downgraded A10 Networks from an “overweight” rating to a “sector weight” rating in a report on Friday, July 14th. Finally, ValuEngine downgraded A10 Networks from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company. A10 Networks has a consensus rating of “Hold” and a consensus price target of $9.60.
In other news, CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 11th. The shares were sold at an average price of $6.34, for a total value of $158,500.00. Following the transaction, the chief executive officer now owns 10,511,538 shares in the company, valued at $66,643,150.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Neil Wu Becker sold 5,156 shares of the company’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $6.50, for a total transaction of $33,514.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 343,156 shares of company stock worth $2,659,744. Insiders own 34.05% 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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