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 brokerages have also issued reports on ATEN. Dougherty & Co upped their target price on shares of A10 Networks from $9.00 to $11.00 and gave the stock a buy rating in a research report on Monday, August 29th. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $9.00 target price (up 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. The stock presently has a consensus rating of Buy and an average price target of $8.92.
A10 Networks (NYSE:ATEN) opened at 10.69 on Wednesday. The firm’s 50-day moving average is $9.95 and its 200 day moving average is $7.40. A10 Networks has a 52-week low of $4.84 and a 52-week high of $10.87. The stock’s market capitalization is $631.03 million.
A10 Networks (NYSE:ATEN) last announced its earnings results on Thursday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping 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 company had revenue of $57.10 million for the quarter, compared to analyst estimates of $56.07 million. During the same period in the prior year, the business earned ($0.09) earnings per share. A10 Networks’s quarterly revenue was up 20.2% on a year-over-year basis. On average, equities analysts forecast that A10 Networks will post ($0.09) earnings per share for the current year.
In other A10 Networks news, VP Robert D. Cochran sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 11th. The shares were sold at an average price of $7.00, for a total value of $35,000.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert D. Cochran sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $7.86, for a total transaction of $196,500.00. Following the completion of the sale, the vice president now directly owns 153,728 shares of the company’s stock, valued at approximately $1,208,302.08. The disclosure for this sale can be found here. 34.05% of the stock is currently owned by company insiders.
A number of large investors have recently modified their holdings of ATEN. American International Group Inc. increased its stake in shares of A10 Networks by 27.8% in the second quarter. American International Group Inc. now owns 25,374 shares of the company’s stock valued at $164,000 after buying an additional 5,514 shares during the last quarter. Bank of Montreal Can purchased a new stake in shares of A10 Networks during the second quarter valued at approximately $183,000. Dynamic Technology Lab Private Ltd increased its stake in shares of A10 Networks by 3.8% in the second quarter. Dynamic Technology Lab Private Ltd now owns 35,819 shares of the company’s stock valued at $232,000 after buying an additional 1,312 shares during the last quarter. BlackRock Group LTD increased its stake in shares of A10 Networks by 181.1% in the second quarter. BlackRock Group LTD now owns 38,450 shares of the company’s stock valued at $249,000 after buying an additional 24,772 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in shares of A10 Networks by 21.0% in the second quarter. Rhumbline Advisers now owns 39,197 shares of the company’s stock valued at $254,000 after buying an additional 6,810 shares during the last quarter. 46.70% of the stock is owned by hedge funds and other institutional investors.
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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