A10 Networks, Inc. (NYSE:ATEN) issued its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.06, Bloomberg Earnings reports. The business had revenue of $53.69 million during the quarter, compared to the consensus estimate of $52.99 million. A10 Networks had a negative return on equity of 20.33% and a negative net margin of 8.00%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same quarter last year, the company earned ($0.02) earnings per share.
A10 Networks (ATEN) traded down 1.33% during mid-day trading on Tuesday, hitting $6.70. The stock had a trading volume of 438,582 shares. A10 Networks has a 12-month low of $6.09 and a 12-month high of $10.87. The stock has a 50-day moving average price of $7.64 and a 200 day moving average price of $8.44. The firm’s market cap is $395.50 million.
A number of equities research analysts recently commented on the company. Zacks Investment Research raised A10 Networks from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. Bank of America Corporation decreased their target price on A10 Networks from $10.00 to $8.50 and set a “buy” rating for the company in a report on Friday, July 14th. DA Davidson lifted their target price on A10 Networks to $9.00 and gave the stock a “buy” rating in a report on Friday, July 14th. KeyCorp cut A10 Networks from an “overweight” rating to a “sector weight” rating in a research report on Friday, July 14th. Finally, ValuEngine cut A10 Networks from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three 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 company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $9.60.
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In other A10 Networks news, CEO Lee Chen sold 25,000 shares of the business’s stock in a transaction on Wednesday, May 17th. The shares were sold at an average price of $8.15, for a total transaction of $203,750.00. Following the sale, the chief executive officer now directly owns 10,811,538 shares of the company’s stock, valued at approximately $88,114,034.70. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Raymond J. Smets sold 6,890 shares of the business’s stock in a transaction on Thursday, May 11th. The shares were sold at an average price of $8.16, for a total transaction of $56,222.40. Following the sale, the executive vice president now directly owns 169,060 shares in the company, valued at $1,379,529.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 312,702 shares of company stock worth $2,476,596. Company insiders own 34.05% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Gotham Asset Management LLC bought a new position in A10 Networks during the first quarter worth $103,000. Campbell & CO Investment Adviser LLC bought a new position in A10 Networks during the first quarter worth $107,000. Airain ltd bought a new position in A10 Networks during the first quarter worth $112,000. KCG Holdings Inc. bought a new position in A10 Networks during the first quarter worth $115,000. Finally, US Bancorp DE increased its position in A10 Networks by 618.0% in the first quarter. US Bancorp DE now owns 15,939 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 13,719 shares during the period. 57.00% of the stock is currently owned by institutional investors and hedge funds.
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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