A10 Networks, Inc. (ATEN) Downgraded by BidaskClub

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

Several other equities research analysts have also commented on the stock. DA Davidson boosted their price target on shares of A10 Networks to $9.00 and gave the company a buy rating in a report on Friday, July 14th. Zacks Investment Research downgraded shares of A10 Networks from a hold rating to a sell rating in a research report on Monday, March 27th. KeyCorp downgraded shares of A10 Networks from an overweight rating to a sector weight rating in a research report on Friday, July 14th. Finally, Bank of America Corporation cut 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. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the stock. The company has a consensus rating of Hold and an average price target of $9.60.

Shares of A10 Networks (NYSE ATEN) opened at 6.13 on Monday. The stock’s 50 day moving average is $7.06 and its 200-day moving average is $8.32. A10 Networks has a 12-month low of $6.09 and a 12-month high of $10.86. The stock’s market cap is $361.85 million.

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

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In other A10 Networks news, EVP Robert D. Cochran sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $6.76, for a total transaction of $54,080.00. Following the sale, the executive vice president now owns 181,662 shares of the company’s stock, valued at approximately $1,228,035.12. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Lee Chen sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $8.48, for a total transaction of $212,000.00. Following the sale, the chief executive officer now directly owns 10,761,538 shares in the company, valued at approximately $91,257,842.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 353,156 shares of company stock worth $2,680,244. Insiders own 34.05% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the company. Gotham Asset Management LLC bought a new stake in A10 Networks during the first quarter valued at $103,000. Campbell & CO Investment Adviser LLC acquired a new stake in shares of A10 Networks during the first quarter valued at approximately $107,000. Airain ltd acquired a new stake in shares of A10 Networks during the first quarter valued at approximately $112,000. KCG Holdings Inc. acquired a new stake in shares of A10 Networks during the first quarter valued at approximately $115,000. Finally, US Bancorp DE boosted its stake 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 during the last quarter. 53.59% of the stock is currently owned by institutional investors.

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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