A10 Networks (ATEN) Upgraded to “Hold” at Zacks Investment Research

Zacks Investment Research upgraded shares of A10 Networks (NYSE:ATEN) from a sell rating to a hold rating in a research note published on Wednesday.

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. “

ATEN stock opened at $6.18 on Wednesday. A10 Networks has a 1 year low of $5.51 and a 1 year high of $8.25.

A10 Networks (NYSE:ATEN) last released its quarterly earnings data on Tuesday, October 30th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.10. The business had revenue of $60.50 million during the quarter, compared to analysts’ expectations of $58.00 million. A10 Networks had a negative net margin of 10.96% and a negative return on equity of 19.69%. On average, research analysts expect that A10 Networks will post -0.34 earnings per share for the current fiscal year.

In related news, CFO Thomas Constantino sold 15,129 shares of the company’s stock in a transaction that occurred on Friday, October 19th. The shares were sold at an average price of $5.93, for a total transaction of $89,714.97. Following the completion of the transaction, the chief financial officer now directly owns 159,871 shares in the company, valued at approximately $948,035.03. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 28.87% of the stock is owned by corporate insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Northern Trust Corp grew its holdings in A10 Networks by 2.0% during the 1st quarter. Northern Trust Corp now owns 560,635 shares of the communications equipment provider’s stock worth $3,263,000 after acquiring an additional 10,793 shares during the last quarter. Wells Fargo & Company MN grew its holdings in A10 Networks by 18.8% during the 3rd quarter. Wells Fargo & Company MN now owns 88,509 shares of the communications equipment provider’s stock worth $538,000 after acquiring an additional 14,037 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in A10 Networks by 7.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 240,757 shares of the communications equipment provider’s stock worth $1,500,000 after acquiring an additional 16,149 shares during the last quarter. Fox Run Management L.L.C. bought a new stake in A10 Networks during the 2nd quarter worth approximately $145,000. Finally, Capital Fund Management S.A. bought a new stake in A10 Networks during the 2nd quarter worth approximately $149,000. 62.34% of the stock is currently owned by hedge funds and other institutional investors.

About A10 Networks

A10 Networks, Inc provides software and hardware solutions in the United States, Japan, other Asia Pacific and EMEA countries, and internationally. The company offers Thunder application delivery controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and micro services; and Thunder carrier grade network address translation product, which offers network address and protocol translation services for service provider networks.

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