DA Davidson cut shares of A10 Networks Inc. (NYSE:ATEN) from a buy rating to a neutral rating in a research report sent to investors on Wednesday morning. They currently have $11.50 target price on the stock. The analysts noted that the move was a valuation call.
Several other brokerages also recently weighed in on ATEN. Zacks Investment Research upgraded shares of A10 Networks from a hold rating to a buy rating and set a $6.75 price target on the stock in a report on Tuesday, June 28th. Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $9.00 price target (up previously from $8.00) on shares of A10 Networks in a report on Tuesday, August 2nd. Finally, Dougherty & Co increased their price target on shares of A10 Networks from $9.00 to $11.00 and gave the stock a buy rating in a report on Monday, August 29th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock has an average rating of Buy and an average price target of $9.17.
A10 Networks (NYSE:ATEN) opened at 9.92 on Wednesday. The stock’s market cap is $585.58 million. A10 Networks has a 12-month low of $4.84 and a 12-month high of $10.87. The stock has a 50 day moving average of $10.15 and a 200 day moving average of $7.55.
A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Thursday, July 28th. The company reported ($0.02) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.05) by $0.03. The firm earned $57.10 million during the quarter, compared to analyst estimates of $56.07 million. A10 Networks had a negative net margin of 14.10% and a negative return on equity of 37.97%. A10 Networks’s revenue was up 20.2% on a year-over-year basis. During the same period last year, the firm posted ($0.09) EPS. 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 firm’s stock in a transaction that occurred on Thursday, September 1st. The shares were sold at an average price of $9.91, for a total transaction of $69,370.00. Following the sale, the vice president now owns 146,728 shares of the company’s stock, valued at approximately $1,454,074.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert D. Cochran sold 25,000 shares of the firm’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $7.86, for a total transaction of $196,500.00. Following the sale, the vice president now directly owns 153,728 shares in the company, valued at approximately $1,208,302.08. The disclosure for this sale can be found here. Insiders own 34.05% of the company’s stock.
Large investors have recently modified their holdings of the company. Franklin Resources Inc. boosted its stake 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 worth $16,973,000 after buying an additional 29,375 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of A10 Networks by 15.7% in the second quarter. Vanguard Group Inc. now owns 2,376,458 shares of the company’s stock worth $15,375,000 after buying an additional 322,617 shares during the last quarter. BlackRock Fund Advisors boosted its stake in shares of A10 Networks by 31.0% in the second quarter. BlackRock Fund Advisors now owns 1,150,356 shares of the company’s stock worth $7,443,000 after buying an additional 272,551 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its stake in shares of A10 Networks by 59.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 962,793 shares of the company’s stock worth $6,229,000 after buying an additional 360,814 shares during the last quarter. Finally, Spark Investment Management LLC boosted its stake in shares of A10 Networks by 55.5% in the first quarter. Spark Investment Management LLC now owns 698,300 shares of the company’s stock worth $4,133,000 after buying an additional 249,300 shares during the last quarter. 46.70% of the stock is currently owned by institutional investors and hedge funds.
About A10 Networks
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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