A10 Networks, Inc. (NYSE:ATEN) released its quarterly earnings results on Thursday. The communications equipment provider reported ($0.04) earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.06, Bloomberg Earnings reports. The business had revenue of $53.69 million for the quarter, compared to analysts’ expectations of $52.99 million. A10 Networks had a negative net margin of 8.00% and a negative return on equity of 20.56%. The firm’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.02) earnings per share.
A10 Networks (NYSE ATEN) opened at 7.18 on Friday. The company’s market cap is $423.84 million. The company has a 50-day moving average of $7.85 and a 200-day moving average of $8.49. A10 Networks has a 52 week low of $6.09 and a 52 week high of $10.86.
In related news, EVP Raymond J. Smets sold 6,890 shares of the firm’s stock in a transaction dated Thursday, May 11th. The stock was sold at an average price of $8.16, for a total transaction of $56,222.40. Following the sale, the executive vice president now owns 169,060 shares of the company’s stock, valued at $1,379,529.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lee Chen sold 25,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 10,836,538 shares in the company, valued at approximately $88,751,246.22. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 312,702 shares of company stock worth $2,511,096. Insiders own 34.05% of the company’s stock.
Large investors have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of A10 Networks during the first quarter worth $278,000. Bank of New York Mellon Corp increased its stake in shares of A10 Networks by 4.0% in the first quarter. Bank of New York Mellon Corp now owns 209,963 shares of the communications equipment provider’s stock worth $1,921,000 after buying an additional 8,036 shares during the last quarter. US Bancorp DE increased its stake in shares of 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 last quarter. American Century Companies Inc. increased its stake in shares of A10 Networks by 2.5% in the first quarter. American Century Companies Inc. now owns 76,115 shares of the communications equipment provider’s stock worth $696,000 after buying an additional 1,870 shares during the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of A10 Networks by 28.3% in the first quarter. Wells Fargo & Company MN now owns 160,519 shares of the communications equipment provider’s stock worth $1,468,000 after buying an additional 35,385 shares during the last quarter. 57.63% of the stock is currently owned by institutional investors.
A number of analysts have recently commented on the stock. KeyCorp cut shares of A10 Networks from an “overweight” rating to a “sector weight” rating in a report on Friday, July 14th. Zacks Investment Research upgraded shares of A10 Networks from a “sell” rating to a “hold” rating in a report on Tuesday, April 11th. DA Davidson boosted their target price on shares of A10 Networks to $9.00 and gave the company a “buy” rating in a report on Friday, July 14th. ValuEngine cut shares of A10 Networks from a “hold” rating to a “sell” rating in a report on Thursday. Finally, BidaskClub cut shares of A10 Networks from a “hold” rating to a “sell” rating in a report on Monday, July 24th. 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 stock. The company has a consensus rating of “Hold” and a consensus target price of $9.60.
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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