DA Davidson Lowers A10 Networks Inc. (ATEN) to Neutral
A10 Networks Inc. (NYSE:ATEN) was downgraded by research analysts at DA Davidson from a “buy” rating to a “neutral” rating in a research note issued to investors on Wednesday. They currently have a $11.50 price target on the stock. DA Davidson’s price objective points to a potential upside of 15.93% from the stock’s current price. The analysts noted that the move was a valuation call.
A number of other analysts also recently weighed in on the stock. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $9.00 target price (up from $8.00) on shares of A10 Networks in a report on Tuesday, August 2nd. Zacks Investment Research upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $8.50 target price on the stock in a report on Wednesday, August 3rd. Finally, Dougherty & Co boosted their target price on shares of A10 Networks from $9.00 to $11.00 and gave the stock a “buy” rating in a report on Monday, August 29th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $9.17.
A10 Networks (NYSE:ATEN) traded up 1.74% during mid-day trading on Wednesday, reaching $9.92. 503,506 shares of the company’s stock traded hands. The firm’s 50-day moving average price is $10.15 and its 200 day moving average price is $7.55. The firm’s market cap is $585.58 million. A10 Networks has a one year low of $4.84 and a one year high of $10.87.
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A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Thursday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.05) by $0.03. The company had revenue of $57.10 million for the quarter, compared to the consensus estimate of $56.07 million. A10 Networks had a negative net margin of 14.10% and a negative return on equity of 37.97%. A10 Networks’s revenue for the quarter was up 20.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.09) EPS. On average, equities analysts forecast that A10 Networks will post ($0.09) EPS for the current year.
In other A10 Networks news, VP Robert D. Cochran sold 25,000 shares of the business’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $7.86, for a total value of $196,500.00. Following the completion of the sale, the vice president now directly owns 153,728 shares of the company’s stock, valued at approximately $1,208,302.08. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Robert D. Cochran sold 7,000 shares of the business’s stock in a transaction dated Wednesday, October 5th. The shares were sold at an average price of $9.94, for a total transaction of $69,580.00. Following the completion of the sale, the vice president now directly owns 139,728 shares of the company’s stock, valued at $1,388,896.32. The disclosure for this sale can be found here. Corporate insiders own 34.05% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP boosted its stake in A10 Networks by 245.6% in the second quarter. GSA Capital Partners LLP now owns 214,244 shares of the company’s stock valued at $1,386,000 after buying an additional 152,244 shares during the period. Swiss National Bank boosted its stake in A10 Networks by 23.8% in the second quarter. Swiss National Bank now owns 76,400 shares of the company’s stock valued at $494,000 after buying an additional 14,700 shares during the period. California State Teachers Retirement System boosted its stake in A10 Networks by 28.6% in the second quarter. California State Teachers Retirement System now owns 92,430 shares of the company’s stock valued at $598,000 after buying an additional 20,577 shares during the period. Bank of New York Mellon Corp boosted its stake in A10 Networks by 5.5% in the second quarter. Bank of New York Mellon Corp now owns 186,710 shares of the company’s stock valued at $1,208,000 after buying an additional 9,808 shares during the period. Finally, American Century Companies Inc. bought a new stake in A10 Networks during the second quarter valued at about $589,000. 46.70% of the stock is owned by institutional investors.
A10 Networks Company Profile
A10 Networks, Inc is a provider of application networking and network security technologies. The Company’s solutions enable enterprises, service providers, Web companies and government organizations to secure and optimize the performance of their data center applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
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