A10 Networks, Inc. (NYSE:ATEN) shares reached a new 52-week low on Wednesday . The stock traded as low as $6.31 and last traded at $6.33, with a volume of 358,422 shares traded. The stock had previously closed at $6.49.
A number of analysts have commented on ATEN shares. Bank of America Corporation lowered their target price on shares of 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 boosted their price target on shares of A10 Networks to $9.00 and gave the company a “buy” rating in a report on Friday, July 14th. Zacks Investment Research raised shares of A10 Networks from a “hold” rating to a “buy” rating and set a $9.00 price objective on the stock in a research report on Friday, May 5th. KeyCorp cut shares of A10 Networks from an “overweight” rating to a “sector weight” rating in a research report on Friday, July 14th. Finally, BidaskClub cut shares of A10 Networks from a “hold” rating to a “sell” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $9.60.
The company’s market cap is $372.18 million. The company’s 50-day moving average price is $8.07 and its 200 day moving average price is $8.55.
In related news, CEO Lee Chen sold 25,000 shares of the stock in a transaction dated Tuesday, June 13th. The shares were sold at an average price of $8.49, for a total transaction of $212,250.00. Following the sale, the chief executive officer now directly owns 10,711,538 shares of the company’s stock, valued at approximately $90,940,957.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Robert D. Cochran sold 5,000 shares of the stock in a transaction dated Wednesday, July 5th. The shares were sold at an average price of $8.13, for a total transaction of $40,650.00. Following the sale, the executive vice president now directly owns 189,662 shares in the company, valued at $1,541,952.06. The disclosure for this sale can be found here. Insiders have sold a total of 312,702 shares of company stock valued at $2,554,846 over the last quarter. 34.05% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of the company. Strs Ohio boosted its stake in A10 Networks by 6.0% in the second quarter. Strs Ohio now owns 79,000 shares of the communications equipment provider’s stock worth $666,000 after buying an additional 4,500 shares during the last quarter. Campbell & CO Investment Adviser LLC raised its position in A10 Networks by 1.3% in the second quarter. Campbell & CO Investment Adviser LLC now owns 11,826 shares of the communications equipment provider’s stock worth $100,000 after buying an additional 146 shares during the period. US Bancorp DE raised its position in A10 Networks by 45.2% in the second quarter. US Bancorp DE now owns 23,147 shares of the communications equipment provider’s stock worth $196,000 after buying an additional 7,208 shares during the period. IHT Wealth Management LLC acquired a new position in A10 Networks during the first quarter worth $215,000. Finally, Driehaus Capital Management LLC acquired a new position in A10 Networks during the first quarter worth $681,000. Hedge funds and other institutional investors own 57.63% of the company’s stock.
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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.
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