A10 Networks, Inc. (NYSE:ATEN) Position Cut by Bank of America Corp DE
Bank of America Corp DE decreased its stake in shares of A10 Networks, Inc. (NYSE:ATEN) by 9.0% during the first quarter, Holdings Channel reports. The firm owned 240,403 shares of the communications equipment provider’s stock after selling 23,683 shares during the period. Bank of America Corp DE’s holdings in A10 Networks were worth $2,199,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of ATEN. Vanguard Group Inc. raised its stake in shares of 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. Acadian Asset Management LLC raised its stake in shares of 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 valued at $8,701,000 after buying an additional 197,699 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of A10 Networks by 133.0% in the fourth quarter. Teachers Advisors LLC now owns 281,733 shares of the communications equipment provider’s stock valued at $2,341,000 after buying an additional 160,815 shares in the last quarter. Capital Impact Advisors LLC acquired a new stake in shares of A10 Networks during the first quarter valued at about $1,388,000. Finally, Essex Investment Management Co. LLC acquired a new stake in shares of A10 Networks during the first quarter valued at about $1,282,000. Institutional investors and hedge funds own 57.00% of the company’s stock.
Shares of A10 Networks, Inc. (NYSE ATEN) traded up 0.32% during midday trading on Friday, reaching $6.31. The company had a trading volume of 479,145 shares. The stock’s market capitalization is $372.48 million. The company’s 50-day moving average is $7.38 and its 200-day moving average is $8.38. A10 Networks, Inc. has a 1-year low of $6.09 and a 1-year high of $10.87.
A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Thursday, July 27th. The communications equipment provider reported ($0.04) EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.06. The company had revenue of $53.69 million during the quarter, compared to analysts’ expectations of $52.99 million. A10 Networks had a negative return on equity of 20.33% and a negative net margin of 8.00%. A10 Networks’s revenue for the quarter was down 6.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.02) earnings per share. On average, equities research analysts forecast that A10 Networks, Inc. will post ($0.08) EPS for the current year.
ATEN has been the subject of several research analyst reports. Zacks Investment Research raised A10 Networks from a “hold” rating to a “buy” rating and set a $9.00 target price for the company in a research report on Friday, May 5th. KeyCorp lowered A10 Networks from an “overweight” rating to a “sector weight” rating in a report on Friday, July 14th. DA Davidson lifted their price objective on A10 Networks to $9.00 and gave the stock a “buy” rating in a report on Friday, July 14th. Bank of America Corporation decreased their price objective on A10 Networks from $10.00 to $8.50 and set a “buy” rating for the company in a report on Friday, July 14th. Finally, BidaskClub lowered A10 Networks from a “hold” rating to a “sell” rating in a report on Monday, July 24th. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $9.60.
In other A10 Networks news, CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $8.26, for a total value of $206,500.00. Following the completion of the sale, the chief executive officer now owns 10,786,538 shares in the company, valued at $89,096,803.88. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Robert D. Cochran sold 5,000 shares of the company’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 completion of the sale, the executive vice president now 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. In the last quarter, insiders have sold 343,968 shares of company stock valued at $2,666,467. 34.05% of the stock is owned by company insiders.
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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