A10 Networks Inc. (NYSE:ATEN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.
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. “
A number of other research analysts have also recently weighed in on the stock. Dougherty & Co boosted their price objective on shares of A10 Networks from $9.00 to $11.00 and gave the company a “buy” rating in a research report on Monday, August 29th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $9.00 price objective (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 company’s stock. The company has a consensus rating of “Buy” and an average price target of $8.92.
A10 Networks (NYSE:ATEN) opened at 10.50 on Wednesday. A10 Networks has a one year low of $4.84 and a one year high of $10.66. The stock’s market capitalization is $619.82 million. The firm has a 50-day moving average of $9.87 and a 200 day moving average of $7.37.
A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($0.02) earnings per share for the quarter, beating 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 business had revenue of $57.10 million for the quarter, compared to analysts’ expectations of $56.07 million. During the same quarter in the previous year, the business posted ($0.09) earnings per share. The business’s revenue was up 20.2% compared to the same quarter last year. On average, equities research analysts anticipate that A10 Networks will post ($0.09) earnings per share for the current fiscal year.
In other news, VP Robert D. Cochran sold 7,000 shares of the company’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $9.91, for a total value of $69,370.00. Following the transaction, the vice president now directly owns 146,728 shares in the company, valued at $1,454,074.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert D. Cochran sold 25,000 shares of the company’s stock in a transaction dated Friday, August 5th. The stock was sold at an average price of $7.86, for a total transaction of $196,500.00. Following the completion of the transaction, the vice president now owns 153,728 shares in the company, valued at $1,208,302.08. The disclosure for this sale can be found here. 34.05% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of Montreal Can bought a new position in A10 Networks during the second quarter worth approximately $183,000. Paradigm Capital Management Inc. NY boosted its position in shares of A10 Networks by 23.3% in the second quarter. Paradigm Capital Management Inc. NY now owns 110,925 shares of the company’s stock valued at $717,000 after buying an additional 20,925 shares during the last quarter. Alambic Investment Management L.P. boosted its position in shares of A10 Networks by 239.4% in the second quarter. Alambic Investment Management L.P. now owns 48,200 shares of the company’s stock valued at $312,000 after buying an additional 34,000 shares during the last quarter. SECOR Capital Advisors LP boosted its position in shares of A10 Networks by 68.5% in the second quarter. SECOR Capital Advisors LP now owns 110,155 shares of the company’s stock valued at $713,000 after buying an additional 44,767 shares during the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of A10 Networks by 1.0% in the first quarter. Franklin Resources Inc. now owns 2,867,061 shares of the company’s stock valued at $16,973,000 after buying an additional 29,375 shares during the last quarter. Hedge funds and other institutional investors own 46.70% of the company’s stock.
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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