A10 Networks, Inc. (ATEN) Given Average Recommendation of “Hold” by Brokerages

A10 Networks, Inc. (NYSE:ATEN) has received an average recommendation of “Hold” from the seven ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $9.13.

Several research firms recently issued reports on ATEN. BidaskClub lowered shares of A10 Networks from a “sell” rating to a “strong sell” rating in a research note on Tuesday, August 1st. Zacks Investment Research raised shares of A10 Networks from a “strong sell” rating to a “hold” rating and set a $8.50 price objective for the company in a research note on Tuesday, October 17th. Finally, ValuEngine lowered shares of A10 Networks from a “hold” rating to a “sell” rating in a research note on Thursday, July 27th.

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Shares of A10 Networks (ATEN) opened at $7.20 on Thursday. A10 Networks has a 52 week low of $6.02 and a 52 week high of $9.94.

A10 Networks (NYSE:ATEN) last issued its earnings results on Thursday, October 26th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.04. The company had revenue of $61.40 million during the quarter, compared to analyst estimates of $59.46 million. A10 Networks had a negative net margin of 6.94% and a negative return on equity of 17.63%. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year. equities research analysts forecast that A10 Networks will post -0.21 earnings per share for the current year.

A10 Networks announced that its board has initiated a stock repurchase plan on Thursday, October 26th that allows the company to repurchase 20,000,000 shares. This repurchase authorization allows the communications equipment provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its shares are undervalued.

In related news, Director Alan S. Henricks sold 22,590 shares of A10 Networks stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $7.34, for a total value of $165,810.60. Following the transaction, the director now owns 41,981 shares in the company, valued at approximately $308,140.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lee Chen sold 25,000 shares of A10 Networks stock in a transaction on Wednesday, August 30th. The stock was sold at an average price of $6.48, for a total transaction of $162,000.00. Following the completion of the transaction, the chief executive officer now owns 10,436,538 shares in the company, valued at approximately $67,628,766.24. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,793 shares of company stock valued at $2,622,553. 34.05% of the stock is owned by company insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in ATEN. Bank of New York Mellon Corp raised its holdings in A10 Networks by 4.0% in the 1st quarter. Bank of New York Mellon Corp now owns 209,963 shares of the communications equipment provider’s stock worth $1,921,000 after acquiring an additional 8,036 shares during the period. American International Group Inc. raised its holdings in A10 Networks by 7.1% in the 1st quarter. American International Group Inc. now owns 27,138 shares of the communications equipment provider’s stock worth $248,000 after acquiring an additional 1,792 shares during the period. Teachers Advisors LLC raised its holdings in A10 Networks by 9.7% in the 1st quarter. Teachers Advisors LLC now owns 309,026 shares of the communications equipment provider’s stock worth $2,828,000 after acquiring an additional 27,293 shares during the period. Vanguard Group Inc. raised its holdings in A10 Networks by 17.1% in the 1st quarter. Vanguard Group Inc. now owns 3,374,761 shares of the communications equipment provider’s stock worth $30,879,000 after acquiring an additional 493,877 shares during the period. Finally, Geode Capital Management LLC raised its holdings in A10 Networks by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 357,566 shares of the communications equipment provider’s stock worth $3,271,000 after acquiring an additional 10,372 shares during the period. Hedge funds and other institutional investors own 55.23% 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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