A10 Networks, Inc. (ATEN) Sees Significant Growth in Short Interest
A10 Networks, Inc. (NYSE:ATEN) was the target of a large increase in short interest during the month of July. As of July 31st, there was short interest totalling 1,348,913 shares, an increase of 98.0% from the July 14th total of 681,394 shares. Currently, 2.8% of the shares of the stock are sold short. Based on an average daily volume of 1,138,746 shares, the short-interest ratio is presently 1.2 days.
In other news, Director Alan S. Henricks sold 10,000 shares of the stock in a transaction on Monday, August 14th. The shares were sold at an average price of $6.40, for a total transaction of $64,000.00. Following the completion of the sale, the director now directly owns 64,571 shares in the company, valued at $413,254.40. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Lee Chen sold 25,000 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $8.48, for a total transaction of $212,000.00. Following the sale, the chief executive officer now owns 10,761,538 shares of the company’s stock, valued at $91,257,842.24. The disclosure for this sale can be found here. In the last three months, insiders sold 353,156 shares of company stock valued at $2,680,244. 34.05% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of ATEN. ETF Managers Group LLC acquired a new stake in A10 Networks during the second quarter worth $17,876,000. Vanguard Group Inc. increased its stake 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 worth $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 28.5% in the second quarter. Divisar Capital Management LLC now owns 1,437,849 shares of the communications equipment provider’s stock worth $12,135,000 after buying an additional 319,179 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. Finally, Renaissance Technologies LLC increased its stake in A10 Networks by 7.4% in the second quarter. Renaissance Technologies LLC now owns 2,385,600 shares of the communications equipment provider’s stock worth $20,134,000 after buying an additional 164,900 shares in the last quarter. 53.59% of the stock is currently owned by institutional investors and hedge funds.
A10 Networks (ATEN) opened at 6.28 on Wednesday. The company’s 50-day moving average is $7.25 and its 200 day moving average is $8.36. A10 Networks has a 52 week low of $6.09 and a 52 week high of $10.86. The company’s market capitalization is $370.71 million.
A10 Networks (NYSE:ATEN) last issued its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported ($0.04) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.10) by $0.06. The business had revenue of $53.69 million for the quarter, compared to the consensus estimate of $52.99 million. A10 Networks had a negative net margin of 8.00% and a negative return on equity of 20.33%. The company’s quarterly revenue was down 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.02) EPS. On average, analysts forecast that A10 Networks will post ($0.08) EPS for the current fiscal year.
Several research firms have recently weighed in on ATEN. Bank of America Corporation decreased their price objective 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 increased their price objective on shares of A10 Networks to $9.00 and gave the stock a “buy” rating in a research report on Friday, July 14th. Zacks Investment Research cut shares of A10 Networks from a “buy” rating to a “hold” rating in a research report on Wednesday, May 10th. KeyCorp cut shares of A10 Networks from an “overweight” rating to a “sector weight” rating in a research report on Friday, July 14th. Finally, ValuEngine cut shares of A10 Networks from a “hold” rating to a “sell” rating in a research report on Thursday, July 27th. Three 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’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $9.60.
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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