A10 Networks, Inc. (NYSE:ATEN) was upgraded by Zacks Investment Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “A10 Networks, Inc. provides software based application networking solutions. Its solutions enable enterprises, service providers, Web giants, and government organizations to enhance, secure, and optimize the performance of their data center applications and networks. The company delivers its solutions on optimized hardware appliances and as virtual appliances across its Thunder Series and AX Series product families. A10 Networks, Inc. is headquartered in San Jose, California. “

Several other research firms have also commented on ATEN. Bank of America Corporation decreased their price target on shares of A10 Networks from $10.00 to $8.50 and set a “buy” rating for the company in a report on Friday, July 14th. KeyCorp lowered shares of A10 Networks from an “overweight” rating to a “sector weight” rating in a report on Friday, July 14th. DA Davidson lifted their price target on shares of A10 Networks to $9.00 and gave the company a “buy” rating in a report on Friday, July 14th. BidaskClub raised shares of A10 Networks from a “sell” rating to a “hold” rating in a report on Saturday, September 30th. Finally, ValuEngine lowered shares of A10 Networks from a “hold” rating to a “sell” rating in a report on Thursday, July 27th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $9.75.

Shares of A10 Networks (ATEN) traded down 0.39% during midday trading on Tuesday, reaching $7.60. 306,307 shares of the company were exchanged. A10 Networks has a 52-week low of $6.02 and a 52-week high of $9.94. The stock’s 50-day moving average price is $6.94 and its 200-day moving average price is $7.67. The company’s market capitalization is $448.63 million.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, July 27th. The communications equipment provider reported ($0.04) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.10) by $0.06. A10 Networks had a negative net margin of 8.00% and a negative return on equity of 20.33%. The business had revenue of $53.69 million during the quarter, compared to analyst estimates of $52.99 million. During the same period in the previous year, the business posted ($0.02) EPS. The company’s quarterly revenue was down 6.0% on a year-over-year basis. Analysts anticipate that A10 Networks will post ($0.03) EPS for the current year.

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In related news, CEO Lee Chen sold 25,000 shares of A10 Networks stock in a transaction dated Wednesday, July 26th. The shares were sold at an average price of $6.35, for a total value of $158,750.00. Following the sale, the chief executive officer now directly owns 10,561,538 shares in the company, valued at approximately $67,065,766.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Raymond J. Smets sold 6,945 shares of A10 Networks stock in a transaction dated Friday, October 13th. The shares were sold at an average price of $7.67, for a total transaction of $53,268.15. The disclosure for this sale can be found here. Insiders sold a total of 365,146 shares of company stock valued at $2,466,549 over the last ninety days. Company insiders own 34.05% of the company’s stock.

Large investors have recently modified their holdings of the stock. Gotham Asset Management LLC bought a new stake in A10 Networks in the 1st quarter valued at about $103,000. Tudor Investment Corp ET AL lifted its position in A10 Networks by 74.5% in the 1st quarter. Tudor Investment Corp ET AL now owns 45,900 shares of the communications equipment provider’s stock valued at $420,000 after purchasing an additional 19,590 shares during the last quarter. Highbridge Capital Management LLC lifted its position in A10 Networks by 124.6% in the 1st quarter. Highbridge Capital Management LLC now owns 55,888 shares of the communications equipment provider’s stock valued at $512,000 after purchasing an additional 31,000 shares during the last quarter. US Bancorp DE lifted its position in A10 Networks by 618.0% in the 1st quarter. US Bancorp DE now owns 15,939 shares of the communications equipment provider’s stock valued at $146,000 after purchasing an additional 13,719 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in A10 Networks by 2.6% in the 1st quarter. Renaissance Technologies LLC now owns 2,220,700 shares of the communications equipment provider’s stock valued at $20,319,000 after purchasing an additional 56,300 shares during the last quarter. Hedge funds and other institutional investors own 56.51% of the company’s stock.

A10 Networks Company Profile

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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