Insider Selling: A10 Networks Inc (ATEN) CEO Sells $195,250.00 in Stock

A10 Networks Inc (NYSE:ATEN) CEO Lee Chen sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $7.81, for a total value of $195,250.00. Following the transaction, the chief executive officer now owns 10,036,538 shares of the company’s stock, valued at approximately $78,385,361.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

  • On Wednesday, December 13th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.76, for a total value of $194,000.00.
  • On Tuesday, December 5th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.66, for a total value of $191,500.00.
  • On Monday, November 27th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $8.11, for a total value of $202,750.00.
  • On Wednesday, November 22nd, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $8.07, for a total value of $201,750.00.
  • On Thursday, November 16th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.30, for a total value of $182,500.00.
  • On Wednesday, November 8th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.29, for a total value of $182,250.00.
  • On Tuesday, October 31st, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.38, for a total value of $184,500.00.
  • On Monday, October 23rd, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.53, for a total value of $188,250.00.
  • On Friday, October 20th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.54, for a total value of $188,500.00.
  • On Thursday, October 12th, Lee Chen sold 25,000 shares of A10 Networks stock. The shares were sold at an average price of $7.62, for a total value of $190,500.00.

A10 Networks Inc (ATEN) opened at $7.63 on Monday. The stock has a market capitalization of $539.83, a price-to-earnings ratio of -31.79 and a beta of 1.14. A10 Networks Inc has a 12-month low of $6.02 and a 12-month high of $9.94.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Thursday, October 26th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.04. The business had revenue of $61.40 million for the quarter, compared to the consensus estimate of $59.46 million. A10 Networks had a negative return on equity of 17.63% and a negative net margin of 6.94%. A10 Networks’s revenue was up 11.4% on a year-over-year basis. research analysts predict that A10 Networks Inc will post -0.21 EPS for the current fiscal year.

A10 Networks declared that its Board of Directors has initiated a share repurchase program on Thursday, October 26th that allows the company to buyback 20,000,000 outstanding shares. This buyback authorization allows the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s management believes its stock is undervalued.

Hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new stake in shares of A10 Networks during the third quarter valued at $317,000. New York State Common Retirement Fund boosted its holdings in A10 Networks by 41.0% in the second quarter. New York State Common Retirement Fund now owns 52,300 shares of the communications equipment provider’s stock valued at $441,000 after purchasing an additional 15,199 shares during the last quarter. Ameriprise Financial Inc. purchased a new stake in A10 Networks in the second quarter valued at $1,046,000. Paradigm Capital Management Inc. NY boosted its holdings in A10 Networks by 20.1% in the third quarter. Paradigm Capital Management Inc. NY now owns 243,400 shares of the communications equipment provider’s stock valued at $1,840,000 after purchasing an additional 40,770 shares during the last quarter. Finally, Citadel Advisors LLC boosted its holdings in A10 Networks by 310.8% in the third quarter. Citadel Advisors LLC now owns 401,613 shares of the communications equipment provider’s stock valued at $3,036,000 after purchasing an additional 303,847 shares during the last quarter. 57.80% of the stock is currently owned by institutional investors and hedge funds.

A number of analysts recently issued reports on the company. BidaskClub upgraded A10 Networks from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Zacks Investment Research raised shares of A10 Networks from a “strong sell” rating to a “hold” rating and set a $8.50 price objective for the company in a research note on Tuesday, October 17th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company’s stock. A10 Networks has an average rating of “Hold” and an average target price of $9.13.

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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.

Insider Buying and Selling by Quarter for A10 Networks (NYSE:ATEN)

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