A10 Networks, Inc. (NYSE:ATEN) Expected to Announce Quarterly Sales of $54.91 Million
Brokerages predict that A10 Networks, Inc. (NYSE:ATEN) will post $54.91 million in sales for the current quarter, Zacks Investment Research reports. Five analysts have provided estimates for A10 Networks’ earnings. The lowest sales estimate is $52.70 million and the highest is $62.89 million. A10 Networks posted sales of $57.13 million during the same quarter last year, which would indicate a negative year over year growth rate of 3.9%. The company is expected to issue its next quarterly earnings report after the market closes on Thursday, July 27th.
On average, analysts expect that A10 Networks will report full-year sales of $54.91 million for the current financial year, with estimates ranging from $227.00 million to $257.18 million. For the next financial year, analysts expect that the business will report sales of $256.79 million per share, with estimates ranging from $234.00 million to $278.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover A10 Networks.
A number of research firms have commented on ATEN. Zacks Investment Research raised shares of A10 Networks from a “sell” rating to a “hold” rating in a research report on Monday, April 3rd. Bank of America Corporation reduced their target price on shares of A10 Networks from $10.00 to $8.50 and set a “buy” rating for the company in a research report on Friday, July 14th. DA Davidson boosted their target price on shares of A10 Networks to $9.00 and gave the company a “buy” rating in a research report on Friday, July 14th. Finally, KeyCorp cut shares of A10 Networks from an “overweight” rating to a “sector weight” rating in a research report on Friday, July 14th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. A10 Networks has an average rating of “Hold” and an average target price of $9.60.
In other A10 Networks news, CEO Lee Chen sold 25,000 shares of the business’s stock in a transaction dated Tuesday, May 9th. The stock was sold at an average price of $8.19, for a total transaction 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 $88,751,246.22. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert D. Cochran sold 5,000 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $8.13, for a total value of $40,650.00. Following the transaction, the executive vice president now directly owns 189,662 shares of the company’s stock, valued at approximately $1,541,952.06. The disclosure for this sale can be found here. Insiders have sold 312,702 shares of company stock valued at $2,554,846 in the last ninety days. 34.05% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATEN. Vanguard Group Inc. increased its position in A10 Networks by 17.1% in the first quarter. Vanguard Group Inc. now owns 3,374,761 shares of the communications equipment provider’s stock valued at $30,879,000 after buying an additional 493,877 shares in the last quarter. Divisar Capital Management LLC increased its stake in A10 Networks by 27.2% in the first quarter. Divisar Capital Management LLC now owns 1,118,670 shares of the communications equipment provider’s stock worth $10,236,000 after buying an additional 239,118 shares in the last quarter. Acadian Asset Management LLC increased its stake in A10 Networks by 26.2% in the first quarter. Acadian Asset Management LLC now owns 950,865 shares of the communications equipment provider’s stock worth $8,701,000 after buying an additional 197,699 shares in the last quarter. Russell Investments Group Ltd. purchased a new stake in A10 Networks during the fourth quarter worth $1,604,000. Finally, Teachers Advisors LLC increased its stake in A10 Networks by 133.0% in the fourth quarter. Teachers Advisors LLC now owns 281,733 shares of the communications equipment provider’s stock worth $2,341,000 after buying an additional 160,815 shares in the last quarter. 57.69% of the stock is owned by institutional investors.
Shares of A10 Networks (ATEN) opened at 6.70 on Friday. A10 Networks has a one year low of $6.35 and a one year high of $10.86. The company’s market capitalization is $395.50 million. The firm has a 50-day moving average of $8.17 and a 200-day moving average of $8.57.
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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