A10 Networks Inc (ATEN) Receives $7.75 Average PT from Analysts

Shares of A10 Networks Inc (NYSE:ATEN) have been assigned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, four have given a hold recommendation and one has given a buy recommendation to the company. The average twelve-month price target among brokers that have updated their coverage on the stock in the last year is $7.75.

A number of equities analysts have recently weighed in on ATEN shares. DA Davidson set a $8.00 price target on A10 Networks and gave the stock a “buy” rating in a report on Wednesday, January 17th. Zacks Investment Research cut A10 Networks from a “buy” rating to a “hold” rating in a report on Monday, January 1st. Dougherty & Co cut A10 Networks from a “buy” rating to a “neutral” rating in a report on Friday. Finally, ValuEngine cut A10 Networks from a “sell” rating to a “strong sell” rating in a report on Thursday, March 1st.

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ATEN stock traded up $0.07 during midday trading on Wednesday, hitting $5.82. The stock had a trading volume of 381,254 shares, compared to its average volume of 595,546. A10 Networks has a 12 month low of $5.69 and a 12 month high of $9.75. The firm has a market capitalization of $406.82, a PE ratio of -23.00 and a beta of 0.71.

In related news, VP Gunter Reiss sold 4,210 shares of the company’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $6.31, for a total value of $26,565.10. Following the completion of the transaction, the vice president now directly owns 130,719 shares in the company, valued at $824,836.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction on Friday, December 29th. The shares were sold at an average price of $7.74, for a total value of $193,500.00. Following the completion of the transaction, the chief executive officer now owns 10,011,538 shares of the company’s stock, valued at $77,489,304.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 114,407 shares of company stock valued at $855,793. Insiders own 31.57% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ATEN. Virtu Financial LLC acquired a new position in A10 Networks in the fourth quarter valued at $107,000. Teacher Retirement System of Texas acquired a new position in A10 Networks in the fourth quarter valued at $133,000. Acadian Asset Management LLC acquired a new position in A10 Networks in the fourth quarter valued at $147,000. MetLife Investment Advisors LLC acquired a new position in A10 Networks in the fourth quarter valued at $168,000. Finally, Voya Investment Management LLC increased its stake in A10 Networks by 21.2% in the second quarter. Voya Investment Management LLC now owns 22,826 shares of the communications equipment provider’s stock valued at $193,000 after purchasing an additional 3,994 shares during the last quarter. Hedge funds and other institutional investors own 62.19% of the company’s stock.

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About A10 Networks

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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