A10 Networks (ATEN) Shares Gap Down to $7.31

A10 Networks Inc (NYSE:ATEN) shares gapped down before the market opened on Thursday . The stock had previously closed at $8.67, but opened at $7.31. A10 Networks shares last traded at $6.32, with a volume of 2911700 shares changing hands.

A number of research analysts have commented on ATEN shares. BidaskClub raised A10 Networks from a “sell” rating to a “hold” rating in a research report on Saturday, September 30th. Zacks Investment Research raised A10 Networks from a “strong sell” rating to a “hold” rating and set a $8.50 price target for the company in a research report on Tuesday, October 17th. Finally, DA Davidson set a $8.00 price target on A10 Networks and gave the company a “buy” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $8.88.

The company has a market cap of $435.83, a PE ratio of -26.88 and a beta of 1.14.

A10 Networks (NYSE:ATEN) last announced its earnings results on Thursday, October 26th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.01) by $0.04. A10 Networks had a negative return on equity of 17.63% and a negative net margin of 6.94%. The firm had revenue of $61.40 million during the quarter, compared to analyst estimates of $59.46 million. The company’s quarterly revenue was up 11.4% compared to the same quarter last year. equities analysts anticipate that A10 Networks Inc will post -0.21 EPS for the current fiscal year.

A10 Networks declared that its Board of Directors has initiated a stock repurchase program on Thursday, October 26th that permits the company to repurchase 20,000,000 shares. This repurchase authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Shares repurchase programs are generally a sign that the company’s board believes its shares are undervalued.

In related news, Director Alan S. Henricks sold 22,590 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The stock was sold at an average price of $7.34, for a total value of $165,810.60. Following the sale, the director now owns 41,981 shares in the company, valued at approximately $308,140.54. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 8th. The stock was sold at an average price of $7.29, for a total value of $182,250.00. Following the completion of the sale, the chief executive officer now owns 10,186,538 shares in the company, valued at approximately $74,259,862.02. The disclosure for this sale can be found here. Insiders sold a total of 378,803 shares of company stock valued at $2,891,349 in the last three months. Corporate insiders own 31.57% of the company’s stock.

Several institutional investors have recently bought and sold shares of the stock. Acadian Asset Management LLC purchased a new stake in shares of A10 Networks in the 4th quarter worth approximately $147,000. Schwab Charles Investment Management Inc. grew its stake in shares of A10 Networks by 12.7% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 199,922 shares of the communications equipment provider’s stock worth $1,544,000 after buying an additional 22,560 shares during the last quarter. Cubist Systematic Strategies LLC grew its stake in shares of A10 Networks by 25.9% in the 3rd quarter. Cubist Systematic Strategies LLC now owns 44,535 shares of the communications equipment provider’s stock worth $337,000 after buying an additional 9,149 shares during the last quarter. Jane Street Group LLC purchased a new stake in shares of A10 Networks in the 3rd quarter worth approximately $317,000. Finally, Royce & Associates LP grew its stake in shares of A10 Networks by 15.0% in the 3rd quarter. Royce & Associates LP now owns 821,500 shares of the communications equipment provider’s stock worth $6,211,000 after buying an additional 106,976 shares during the last quarter. Institutional investors own 57.80% of the company’s stock.

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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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