BWS Financial Reaffirms “Buy” Rating for A10 Networks (NYSE:ATEN)

A10 Networks (NYSE:ATEN)‘s stock had its “buy” rating reissued by analysts at BWS Financial in a research report issued to clients and investors on Wednesday, Benzinga reports. They presently have a $17.00 target price on the communications equipment provider’s stock. BWS Financial’s price target would suggest a potential upside of 8.77% from the company’s previous close.

Separately, Craig Hallum upped their price objective on shares of A10 Networks from $15.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday.

A10 Networks Trading Up 19.7 %

NYSE:ATEN traded up $2.57 during trading hours on Wednesday, hitting $15.63. 970,471 shares of the stock traded hands, compared to its average volume of 649,211. The firm has a market cap of $1.16 billion, a price-to-earnings ratio of 29.49 and a beta of 1.10. The firm has a 50 day moving average price of $13.50 and a 200 day moving average price of $12.92. A10 Networks has a fifty-two week low of $10.03 and a fifty-two week high of $15.99.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.02. A10 Networks had a return on equity of 21.67% and a net margin of 15.88%. The firm had revenue of $60.70 million for the quarter, compared to analyst estimates of $59.43 million. During the same period in the previous year, the firm earned $0.09 earnings per share. A10 Networks’s quarterly revenue was up 5.2% on a year-over-year basis. Research analysts predict that A10 Networks will post 0.66 EPS for the current year.

Insider Buying and Selling at A10 Networks

In other A10 Networks news, CEO Dhrupad Trivedi sold 60,606 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $13.27, for a total transaction of $804,241.62. Following the sale, the chief executive officer now directly owns 495,814 shares in the company, valued at approximately $6,579,451.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Brian Becker sold 2,047 shares of the firm’s stock in a transaction that occurred on Monday, February 5th. The stock was sold at an average price of $13.06, for a total value of $26,733.82. Following the completion of the sale, the chief financial officer now directly owns 49,252 shares of the company’s stock, valued at $643,231.12. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dhrupad Trivedi sold 60,606 shares of A10 Networks stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $13.27, for a total transaction of $804,241.62. Following the transaction, the chief executive officer now directly owns 495,814 shares of the company’s stock, valued at $6,579,451.78. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 121,146 shares of company stock valued at $1,598,166. 5.82% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its stake in shares of A10 Networks by 2.7% in the third quarter. Vanguard Group Inc. now owns 6,965,847 shares of the communications equipment provider’s stock valued at $104,697,000 after buying an additional 185,362 shares during the period. Meritage Portfolio Management boosted its holdings in A10 Networks by 30.3% in the fourth quarter. Meritage Portfolio Management now owns 32,220 shares of the communications equipment provider’s stock worth $424,000 after acquiring an additional 7,484 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its position in A10 Networks by 37.4% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider’s stock valued at $32,753,000 after purchasing an additional 676,509 shares during the period. Verity Asset Management Inc. increased its stake in A10 Networks by 1.7% during the 3rd quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock valued at $1,378,000 after purchasing an additional 1,515 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of A10 Networks by 38.2% in the third quarter. Qube Research & Technologies Ltd now owns 158,383 shares of the communications equipment provider’s stock valued at $2,380,000 after buying an additional 43,781 shares in the last quarter. Institutional investors own 98.61% of the company’s stock.

A10 Networks Company Profile

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.