A10 Networks (NYSE:ATEN) Trading Down 9.2%


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A10 Networks, Inc. (NYSE:ATEN)’s share price dropped 9.2% during mid-day trading on Monday . The stock traded as low as $9.05 and last traded at $9.19. Approximately 1,687,204 shares were traded during mid-day trading, an increase of 78% from the average daily volume of 946,301 shares. The stock had previously closed at $10.12.

A number of analysts have weighed in on ATEN shares. Sidoti increased their target price on shares of A10 Networks from $13.00 to $15.00 and gave the company a “buy” rating in a research report on Wednesday, October 28th. TheStreet raised shares of A10 Networks from a “c” rating to a “b-” rating in a research report on Friday, November 6th. Zacks Investment Research downgraded shares of A10 Networks from a “buy” rating to a “hold” rating in a research report on Tuesday, December 29th. Finally, BidaskClub downgraded shares of A10 Networks from a “strong-buy” rating to a “buy” rating in a research report on Sunday, January 3rd. One investment analyst has rated the stock with a hold rating and three have assigned a buy rating to the stock. A10 Networks has an average rating of “Buy” and an average price target of $13.17.

The stock has a market capitalization of $691.14 million, a P/E ratio of 70.77 and a beta of 0.96. The business has a fifty day simple moving average of $9.01 and a 200-day simple moving average of $7.84.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Tuesday, October 27th. The communications equipment provider reported $0.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.05 by $0.08. The firm had revenue of $56.61 million for the quarter, compared to analysts’ expectations of $55.62 million. A10 Networks had a return on equity of 13.20% and a net margin of 4.49%. As a group, equities analysts forecast that A10 Networks, Inc. will post 0.2 EPS for the current year.

In related news, CEO Dhrupad Trivedi sold 10,889 shares of the stock in a transaction on Monday, December 7th. The stock was sold at an average price of $8.06, for a total value of $87,765.34. Following the transaction, the chief executive officer now directly owns 114,111 shares in the company, valued at approximately $919,734.66. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gunter Reiss sold 3,000 shares of the stock in a transaction on Thursday, December 24th. The stock was sold at an average price of $10.02, for a total value of $30,060.00. Following the completion of the transaction, the vice president now owns 135,543 shares in the company, valued at $1,358,140.86. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,889 shares of company stock worth $163,635. 23.65% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently modified their holdings of the stock. Strs Ohio acquired a new position in A10 Networks in the third quarter valued at approximately $383,000. Paloma Partners Management Co raised its stake in shares of A10 Networks by 195.2% in the third quarter. Paloma Partners Management Co now owns 38,436 shares of the communications equipment provider’s stock valued at $245,000 after acquiring an additional 25,414 shares during the last quarter. Zebra Capital Management LLC bought a new position in shares of A10 Networks in the third quarter valued at approximately $477,000. Jane Street Group LLC increased its holdings in shares of A10 Networks by 106.4% in the third quarter. Jane Street Group LLC now owns 24,433 shares of the communications equipment provider’s stock valued at $156,000 after purchasing an additional 12,597 shares in the last quarter. Finally, Cubist Systematic Strategies LLC increased its holdings in shares of A10 Networks by 127.0% in the third quarter. Cubist Systematic Strategies LLC now owns 144,958 shares of the communications equipment provider’s stock valued at $923,000 after purchasing an additional 81,108 shares in the last quarter. Institutional investors own 78.23% of the company’s stock.

About A10 Networks (NYSE:ATEN)

A10 Networks, Inc provides software and hardware solutions in the United States, Japan, other Asia Pacific and EMEA countries, and Latin America. The company offers Thunder application delivery controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and micro services; and Thunder carrier grade networking product, which offers standards-compliant address and protocol translation services for service provider networks.

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