Insider Selling: A10 Networks, Inc. (ATEN) CEO Sells $184,500.00 in Stock

A10 Networks, Inc. (NYSE:ATEN) CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $7.38, for a total transaction of $184,500.00. Following the transaction, the chief executive officer now directly owns 10,211,538 shares of the company’s stock, valued at approximately $75,361,150.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Lee Chen also recently made the following trade(s):

  • On Monday, October 23rd, Lee Chen sold 25,000 shares of A10 Networks stock. The stock was sold at an average price of $7.53, for a total transaction of $188,250.00.
  • On Friday, October 20th, Lee Chen sold 25,000 shares of A10 Networks stock. The stock was sold at an average price of $7.54, for a total transaction of $188,500.00.
  • On Thursday, October 12th, Lee Chen sold 25,000 shares of A10 Networks stock. The stock was sold at an average price of $7.62, for a total transaction of $190,500.00.
  • On Wednesday, October 4th, Lee Chen sold 25,000 shares of A10 Networks stock. The stock was sold at an average price of $7.73, for a total transaction of $193,250.00.
  • On Tuesday, September 26th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $6.57, for a total transaction of $164,250.00.
  • On Monday, September 18th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $6.66, for a total transaction of $166,500.00.
  • On Friday, September 15th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $6.72, for a total transaction of $168,000.00.
  • On Thursday, September 7th, Lee Chen sold 25,000 shares of A10 Networks stock. The stock was sold at an average price of $6.57, for a total transaction of $164,250.00.
  • On Wednesday, August 30th, Lee Chen sold 25,000 shares of A10 Networks stock. The stock was sold at an average price of $6.48, for a total transaction of $162,000.00.
  • On Tuesday, August 22nd, Lee Chen sold 25,000 shares of A10 Networks stock. The stock was sold at an average price of $6.09, for a total transaction of $152,250.00.

A10 Networks, Inc. (NYSE ATEN) opened at $7.41 on Friday.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Thursday, October 26th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.04. A10 Networks had a negative net margin of 6.94% and a negative return on equity of 17.71%. The business had revenue of $61.40 million during the quarter, compared to analysts’ expectations of $59.46 million. A10 Networks’s quarterly revenue was up 11.4% on a year-over-year basis. equities analysts forecast that A10 Networks, Inc. will post -0.21 earnings per share for the current year.

A10 Networks announced that its board has approved a share buyback plan on Thursday, October 26th that permits the company to repurchase 20,000,000 outstanding shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.

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Institutional investors have recently added to or reduced their stakes in the stock. Campbell & CO Investment Adviser LLC lifted its position in shares of A10 Networks by 1.3% during the 2nd quarter. Campbell & CO Investment Adviser LLC now owns 11,826 shares of the communications equipment provider’s stock valued at $100,000 after acquiring an additional 146 shares during the period. Gotham Asset Management LLC acquired a new position in shares of A10 Networks during the 1st quarter valued at $103,000. Stoneridge Investment Partners LLC acquired a new position in shares of A10 Networks during the 3rd quarter valued at $109,000. KCG Holdings Inc. acquired a new position in shares of A10 Networks during the 1st quarter valued at $115,000. Finally, Capital Fund Management S.A. acquired a new position in A10 Networks during the second quarter worth $149,000. Institutional investors own 55.81% of the company’s stock.

A number of research analysts recently weighed in on ATEN shares. Bank of America Corporation decreased their target price on shares of A10 Networks from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Friday, July 14th. ValuEngine downgraded shares of A10 Networks from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. BidaskClub downgraded shares of A10 Networks from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Zacks Investment Research downgraded shares of A10 Networks from a “hold” rating to a “sell” rating in a report on Tuesday, July 18th. Finally, DA Davidson lifted their target price on shares of A10 Networks to $9.00 and gave the stock a “buy” rating in a report on Friday, July 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $9.13.

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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