A10 Networks Inc. (NYSE:ATEN) Receives $9.00 Average PT from Analysts
A10 Networks Inc. (NYSE:ATEN) has received a consensus rating of “Buy” from the six research firms that are covering the stock. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $9.30.
Several research firms have recently weighed in on ATEN. DA Davidson lowered shares of A10 Networks from a “buy” rating to a “neutral” rating and set a $11.50 target price on the stock. in a report on Wednesday. They noted that the move was a valuation call. Zacks Investment Research lowered shares of A10 Networks from a “buy” rating to a “hold” rating in a report on Wednesday, September 28th. Dougherty & Co upped 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. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $9.00 target price (up previously from $8.00) on shares of A10 Networks in a report on Tuesday, August 2nd.
Shares of A10 Networks (NYSE:ATEN) opened at 9.92 on Monday. A10 Networks has a 12-month low of $4.84 and a 12-month high of $10.87. The company has a 50 day moving average of $10.15 and a 200-day moving average of $7.55. The company’s market capitalization is $585.58 million.
A10 Networks (NYSE:ATEN) last announced its quarterly earnings data 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. A10 Networks had a negative net margin of 14.10% and a negative return on equity of 37.97%. The company earned $57.10 million during the quarter, compared to analysts’ expectations of $56.07 million. During the same quarter in the prior year, the company posted ($0.09) EPS. The business’s revenue was up 20.2% on a year-over-year basis. On average, equities analysts anticipate that A10 Networks will post ($0.09) EPS for the current fiscal year.
In other news, VP Robert D. Cochran sold 5,000 shares of the firm’s stock in a transaction dated Monday, July 11th. The shares were sold at an average price of $7.00, for a total value of $35,000.00. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Robert D. Cochran sold 7,000 shares of the firm’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 transaction, the vice president now directly owns 139,728 shares in the company, valued at approximately $1,388,896.32. The disclosure for this sale can be found here. Company insiders own 34.05% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. raised its position in shares of A10 Networks by 1.0% in the first quarter. Franklin Resources Inc. now owns 2,867,061 shares of the company’s stock valued at $16,973,000 after buying an additional 29,375 shares during the period. Vanguard Group Inc. raised its position in shares of A10 Networks by 15.7% in the second quarter. Vanguard Group Inc. now owns 2,376,458 shares of the company’s stock valued at $15,375,000 after buying an additional 322,617 shares during the period. BlackRock Fund Advisors raised its position in shares of A10 Networks by 31.0% in the second quarter. BlackRock Fund Advisors now owns 1,150,356 shares of the company’s stock valued at $7,443,000 after buying an additional 272,551 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of A10 Networks by 59.9% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 962,793 shares of the company’s stock valued at $6,229,000 after buying an additional 360,814 shares during the period. Finally, Spark Investment Management LLC raised its position in shares of A10 Networks by 55.5% in the first quarter. Spark Investment Management LLC now owns 698,300 shares of the company’s stock valued at $4,133,000 after buying an additional 249,300 shares during the period. 46.70% of the stock is currently owned by institutional investors.
About A10 Networks
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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