A10 Networks, Inc. (NYSE:ATEN) Downgraded by ValuEngine

A10 Networks, Inc. (NYSE:ATEN) was downgraded by stock analysts at ValuEngine from a “hold” rating to a “sell” rating in a research note issued on Thursday.

A number of other brokerages have also recently commented on ATEN. BidaskClub cut A10 Networks from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Zacks Investment Research cut A10 Networks from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. KeyCorp cut A10 Networks from an “overweight” rating to a “sector weight” rating in a research report on Friday, July 14th. DA Davidson lifted their price target on A10 Networks to $9.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Finally, Bank of America Corporation lowered their price target on A10 Networks from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Friday, July 14th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.60.

A10 Networks (NYSE:ATEN) opened at 7.18 on Thursday. The stock’s 50 day moving average price is $7.85 and its 200-day moving average price is $8.49. A10 Networks has a one year low of $6.09 and a one year high of $10.86. The company’s market capitalization is $423.84 million.

A10 Networks (NYSE:ATEN) last issued its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported ($0.04) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.10) by $0.06. A10 Networks had a negative return on equity of 20.56% and a negative net margin of 8.00%. The company had revenue of $53.69 million during the quarter, compared to analysts’ expectations of $52.99 million. During the same quarter in the previous year, the firm posted ($0.02) EPS. The firm’s revenue was down 6.0% compared to the same quarter last year. Equities analysts forecast that A10 Networks will post ($0.06) EPS for the current year.

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In related news, EVP Raymond J. Smets sold 6,890 shares of A10 Networks stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $8.16, for a total value of $56,222.40. Following the completion of the transaction, the executive vice president now owns 169,060 shares in the company, valued at approximately $1,379,529.60. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Lee Chen sold 25,000 shares of A10 Networks stock in a transaction dated Tuesday, May 9th. The shares were sold at an average price of $8.19, for a total value of $204,750.00. Following the completion of the transaction, the chief executive officer now owns 10,836,538 shares of the company’s stock, valued at approximately $88,751,246.22. The disclosure for this sale can be found here. In the last three months, insiders sold 312,702 shares of company stock valued at $2,511,096. Insiders own 34.05% of the company’s stock.

Several institutional investors have recently made changes to their positions in the stock. Gotham Asset Management LLC acquired a new position in shares of A10 Networks during the first quarter valued at $103,000. Campbell & CO Investment Adviser LLC purchased a new stake in A10 Networks during the first quarter valued at approximately $107,000. Airain ltd purchased a new stake in A10 Networks during the first quarter valued at approximately $112,000. KCG Holdings Inc. purchased a new stake in A10 Networks during the first quarter valued at approximately $115,000. Finally, US Bancorp DE raised its stake 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 valued at $146,000 after buying an additional 13,719 shares during the period. Hedge funds and other institutional investors own 57.63% of the company’s stock.

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.

To view ValuEngine’s full report, visit ValuEngine’s official website.