StockNews.com Downgrades A10 Networks (NYSE:ATEN) to Hold

A10 Networks (NYSE:ATEN) was downgraded by equities research analysts at StockNews.com from a “buy” rating to a “hold” rating in a report released on Monday.

ATEN has been the subject of a number of other reports. Craig Hallum boosted their price target on A10 Networks from $15.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. BWS Financial reissued a “buy” rating and issued a $17.00 price target on shares of A10 Networks in a report on Wednesday, May 1st.

A10 Networks Stock Up 0.8 %

A10 Networks stock opened at $13.72 on Monday. A10 Networks has a 52 week low of $10.03 and a 52 week high of $16.46. The company has a market capitalization of $1.02 billion, a price-to-earnings ratio of 22.48 and a beta of 1.13. The stock has a 50-day moving average price of $14.56 and a 200 day moving average price of $13.80.

A10 Networks (NYSE:ATEN) last released its earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.02. A10 Networks had a return on equity of 22.42% and a net margin of 17.96%. The firm had revenue of $60.70 million during the quarter, compared to the consensus estimate of $59.43 million. During the same quarter in the previous year, the company posted $0.09 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. Research analysts anticipate that A10 Networks will post 0.66 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Peter Y. Chung sold 3,296,047 shares of the business’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $15.40, for a total transaction of $50,759,123.80. Following the completion of the sale, the director now directly owns 619,166 shares in the company, valued at $9,535,156.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 5.82% of the stock is owned by company insiders.

Hedge Funds Weigh In On A10 Networks

Large investors have recently modified their holdings of the business. Harbor Capital Advisors Inc. increased its holdings in A10 Networks by 6.5% during the 4th quarter. Harbor Capital Advisors Inc. now owns 13,373 shares of the communications equipment provider’s stock worth $176,000 after purchasing an additional 816 shares during the period. Texas Permanent School Fund Corp increased its holdings in shares of A10 Networks by 1.6% in the 1st quarter. Texas Permanent School Fund Corp now owns 61,174 shares of the communications equipment provider’s stock valued at $837,000 after acquiring an additional 973 shares during the last quarter. ProShare Advisors LLC lifted its stake in A10 Networks by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,226 shares of the communications equipment provider’s stock worth $195,000 after purchasing an additional 984 shares during the last quarter. Verity Asset Management Inc. lifted its stake in A10 Networks by 1.7% during the third quarter. Verity Asset Management Inc. now owns 91,666 shares of the communications equipment provider’s stock worth $1,378,000 after purchasing an additional 1,515 shares during the last quarter. Finally, Quadrature Capital Ltd lifted its stake in A10 Networks by 12.9% during the first quarter. Quadrature Capital Ltd now owns 19,961 shares of the communications equipment provider’s stock worth $273,000 after purchasing an additional 2,286 shares during the last quarter. Institutional investors and hedge funds own 98.61% of the company’s stock.

About A10 Networks

A10 Networks, Inc provides networking solutions in the Americas, Japan, rest of Asia Pacific, Europe, the Middle East, and Africa. The company offers Thunder Application Delivery Controller that provides advanced server load balancing; Thunder Carrier Grade Networking, which provides standards-compliant address and protocol translation services between varying types of internet protocol addresses; Thunder Secure Sockets Layer (SSL) Insight that decrypts SSL-encrypted traffic and forwards it to a third-party security device for deep packet inspection; and Thunder Convergent Firewall, which addresses multiple critical security capabilities in one package.