A10 Networks Inc (NYSE:ATEN) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued to investors on Monday.
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. “
Separately, Dougherty & Co increased their price objective on shares of A10 Networks from $10.00 to $10.50 and gave the company a “buy” rating in a report on Friday, February 10th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. A10 Networks has an average rating of “Hold” and an average target price of $9.30.
A10 Networks (NYSE:ATEN) traded down 0.32% during mid-day trading on Monday, hitting $9.22. 235,138 shares of the stock traded hands. A10 Networks has a 12 month low of $5.61 and a 12 month high of $10.86. The stock has a 50-day moving average price of $9.02 and a 200-day moving average price of $8.94. The stock’s market cap is $544.26 million.
A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Thursday, February 9th. The company reported $0.03 EPS for the quarter, beating the Zacks’ consensus estimate of $0.02 by $0.01. The company earned $64 million during the quarter, compared to the consensus estimate of $60.87 million. A10 Networks had a negative net margin of 9.10% and a negative return on equity of 24.79%. A10 Networks’s quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.06) EPS. On average, equities analysts forecast that A10 Networks will post $0.11 earnings per share for the current year.
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In other news, CEO Lee Chen sold 25,000 shares of the stock in a transaction that occurred on Friday, February 17th. The shares were sold at an average price of $9.52, for a total value of $238,000.00. Following the completion of the sale, the chief executive officer now owns 11,014,788 shares of the company’s stock, valued at approximately $104,860,781.76. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Robert D. Cochran sold 5,000 shares of the stock in a transaction that occurred on Thursday, January 5th. The shares were sold at an average price of $8.56, for a total transaction of $42,800.00. Following the completion of the sale, the vice president now directly owns 122,228 shares of the company’s stock, valued at approximately $1,046,271.68. The disclosure for this sale can be found here. In the last quarter, insiders sold 80,000 shares of company stock valued at $740,800. 34.05% of the stock is owned by insiders.
Hedge funds have recently bought and sold shares of the stock. A.R.T. Advisors LLC purchased a new stake in A10 Networks during the fourth quarter valued at $112,000. Thompson Davis & CO. Inc. purchased a new stake in A10 Networks during the third quarter valued at $126,000. BlackRock Japan Co. Ltd boosted its stake in A10 Networks by 191.5% in the third quarter. BlackRock Japan Co. Ltd now owns 12,371 shares of the company’s stock valued at $132,000 after buying an additional 8,127 shares during the period. Teza Capital Management LLC purchased a new stake in A10 Networks during the fourth quarter valued at $161,000. Finally, Tudor Investment Corp Et Al boosted its stake in A10 Networks by 1.1% in the fourth quarter. Tudor Investment Corp Et Al now owns 26,310 shares of the company’s stock valued at $219,000 after buying an additional 292 shares during the period. 54.05% of the stock is 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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