A10 Networks, Inc. (NYSE:ATEN) Rating Lowered to Strong Sell at BidaskClub

A10 Networks, Inc. (NYSE:ATEN) was downgraded by investment analysts at BidaskClub from a “sell” rating to a “strong sell” rating in a report issued on Tuesday, August 1st.

ATEN has been the topic of several other reports. DA Davidson increased their target price on A10 Networks to $9.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Zacks Investment Research lowered A10 Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. KeyCorp lowered A10 Networks from an “overweight” rating to a “sector weight” rating in a research report on Friday, July 14th. Bank of America Corporation dropped their target price on A10 Networks from $10.00 to $8.50 and set a “buy” rating on the stock in a research report on Friday, July 14th. Finally, ValuEngine lowered A10 Networks from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $9.60.

A10 Networks (NYSE ATEN) traded down 3.01% during mid-day trading on Tuesday, reaching $6.13. 461,081 shares of the company’s stock were exchanged. The company’s market capitalization is $361.85 million. A10 Networks has a 52 week low of $6.09 and a 52 week high of $10.86. The company’s 50 day moving average price is $7.06 and its 200-day moving average price is $8.32.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. The business had revenue of $53.69 million for the quarter, compared to analyst estimates of $52.99 million. A10 Networks had a negative return on equity of 20.33% and a negative net margin of 8.00%. The business’s revenue was down 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.02) EPS. On average, equities research analysts expect that A10 Networks will post ($0.08) earnings per share for the current fiscal year.

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In other news, CEO Lee Chen sold 25,000 shares of the stock in a transaction on Monday, August 14th. The stock was sold at an average price of $6.41, for a total value of $160,250.00. Following the completion of the transaction, the chief executive officer now owns 10,486,538 shares of the company’s stock, valued at $67,218,708.58. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alan S. Henricks sold 10,000 shares of the firm’s stock in a transaction dated Monday, August 14th. The shares were sold at an average price of $6.40, for a total value of $64,000.00. Following the transaction, the director now directly owns 64,571 shares of the company’s stock, valued at approximately $413,254.40. The disclosure for this sale can be found here. In the last three months, insiders sold 353,156 shares of company stock valued at $2,680,244. Company insiders own 34.05% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Campbell & CO Investment Adviser LLC boosted its position in shares of A10 Networks by 1.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 11,826 shares of the communications equipment provider’s stock valued at $100,000 after buying an additional 146 shares in the last quarter. Gotham Asset Management LLC purchased a new position in shares of A10 Networks during the first quarter valued at $103,000. Airain ltd purchased a new position in shares of A10 Networks during the first quarter valued at $112,000. KCG Holdings Inc. purchased a new position in shares of A10 Networks during the first quarter valued at $115,000. Finally, US Bancorp DE boosted its position in shares of A10 Networks by 618.0% in the first quarter. US Bancorp DE now owns 15,939 shares of the communications equipment provider’s stock valued at $146,000 after buying an additional 13,719 shares in the last quarter. 53.59% of the stock is owned by institutional investors and hedge funds.

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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