A10 Networks Inc. (ATEN) Rating Lowered to Neutral at DA Davidson
A10 Networks Inc. (NYSE:ATEN) was downgraded by investment analysts at DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Wednesday. They currently have a $11.50 target price on the stock. DA Davidson’s price target would indicate a potential upside of 8.08% from the stock’s current price. The analysts noted that the move was a valuation call.
Other equities research analysts also recently issued reports about the stock. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $9.00 price target (up from $8.00) on shares of A10 Networks in a research note on Tuesday, August 2nd. Zacks Investment Research raised shares of A10 Networks from a “hold” rating to a “buy” rating and set a $8.50 price target for the company in a research note on Wednesday, August 3rd. Finally, Dougherty & Co lifted their price target on shares of A10 Networks from $9.00 to $11.00 and gave the company a “buy” rating in a research note on Monday, August 29th. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $9.17.
Shares of A10 Networks (NYSE:ATEN) opened at 10.64 on Wednesday. The company has a 50-day moving average of $10.08 and a 200 day moving average of $7.49. The firm’s market capitalization is $628.08 million. A10 Networks has a 52 week low of $4.84 and a 52 week high of $10.87.
A10 Networks (NYSE:ATEN) last released its earnings results on Thursday, July 28th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.05) by $0.03. The business had revenue of $57.10 million for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.09) earnings per share. Equities research analysts anticipate that A10 Networks will post ($0.09) earnings per share 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 transaction, the vice president now directly owns 153,728 shares in the company, valued at $1,208,302.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Robert D. Cochran sold 7,000 shares of the business’s stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $9.91, for a total transaction of $69,370.00. Following the completion of the transaction, the vice president now owns 146,728 shares in the company, valued at $1,454,074.48. The disclosure for this sale can be found here. 34.05% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. boosted its position in A10 Networks by 25.7% in the second quarter. Schwab Charles Investment Management Inc. now owns 124,292 shares of the company’s stock worth $805,000 after buying an additional 25,448 shares during the last quarter. American Century Companies Inc. bought a new position in A10 Networks during the second quarter worth $589,000. Lyon Street Capital LLC boosted its position in A10 Networks by 20.0% in the second quarter. Lyon Street Capital LLC now owns 627,091 shares of the company’s stock worth $4,057,000 after buying an additional 104,313 shares during the last quarter. Panagora Asset Management Inc. boosted its position in A10 Networks by 212.3% in the second quarter. Panagora Asset Management Inc. now owns 45,667 shares of the company’s stock worth $295,000 after buying an additional 31,046 shares during the last quarter. Finally, Menta Capital LLC boosted its position in A10 Networks by 117.5% in the second quarter. Menta Capital LLC now owns 113,688 shares of the company’s stock worth $736,000 after buying an additional 61,426 shares during the last quarter. Hedge funds and other institutional investors own 46.70% of the company’s stock.
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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