A10 Networks, Inc. (NYSE:ATEN) Downgraded by BidaskClub

BidaskClub lowered shares of A10 Networks, Inc. (NYSE:ATEN) from a hold rating to a sell rating in a report issued on Monday, July 24th.

ATEN has been the topic of several other research reports. Zacks Investment Research upgraded shares of A10 Networks from a sell rating to a hold rating in a research report on Tuesday, April 11th. Bank of America Corporation reduced their price objective on shares of A10 Networks from $10.00 to $8.50 and set a buy rating on the stock in a research report on Friday, July 14th. DA Davidson lifted their price objective on shares of A10 Networks to $9.00 and gave the company a buy rating in a research report on Friday, July 14th. Finally, KeyCorp cut shares of A10 Networks from an overweight rating to a sector weight rating in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have issued a buy rating to the stock. A10 Networks presently has a consensus rating of Hold and a consensus price target of $9.60.

Shares of A10 Networks (ATEN) traded down 3.01% during trading on Monday, hitting $6.13. 461,081 shares of the stock were exchanged. The firm has a 50 day moving average of $7.06 and a 200-day moving average of $8.32. The stock’s market cap is $361.85 million. A10 Networks has a 52-week low of $6.09 and a 52-week high of $10.87.

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

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In other A10 Networks news, CEO Lee Chen sold 25,000 shares of the business’s stock in a transaction on Friday, June 2nd. The shares were sold at an average price of $8.48, for a total transaction of $212,000.00. Following the transaction, the chief executive officer now owns 10,761,538 shares in the company, valued at $91,257,842.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan S. Henricks sold 10,000 shares of the business’s stock in a transaction on Monday, August 14th. The shares were sold at an average price of $6.40, for a total transaction of $64,000.00. Following the transaction, the director now owns 64,571 shares in the company, valued at approximately $413,254.40. The disclosure for this sale can be found here. Insiders sold 353,156 shares of company stock worth $2,680,244 in the last 90 days. 34.05% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Gotham Asset Management LLC purchased a new position in A10 Networks during the first quarter worth $103,000. Campbell & CO Investment Adviser LLC purchased a new position in A10 Networks during the first quarter worth $107,000. Airain ltd purchased a new position in A10 Networks during the first quarter worth $112,000. KCG Holdings Inc. purchased a new position in A10 Networks during the first quarter worth $115,000. Finally, US Bancorp DE boosted its position in A10 Networks by 618.0% in the first quarter. US Bancorp DE now owns 15,939 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 13,719 shares during the period. Institutional investors and hedge funds own 53.59% of the company’s stock.

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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