A10 Networks (NYSE:ATEN) Shares Gap Up to $7.58

A10 Networks Inc (NYSE:ATEN)’s stock price gapped up before the market opened on Thursday . The stock had previously closed at $7.52, but opened at $7.58. A10 Networks shares last traded at $7.54, with a volume of 23,101 shares.

Several brokerages recently commented on ATEN. ValuEngine cut A10 Networks from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research raised A10 Networks from a “sell” rating to a “hold” rating in a report on Tuesday, June 4th.

The business has a fifty day moving average of $7.04.

A10 Networks (NYSE:ATEN) last announced its earnings results on Tuesday, July 30th. The communications equipment provider reported ($0.08) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.04) by ($0.04). A10 Networks had a negative return on equity of 16.42% and a negative net margin of 9.67%. The firm had revenue of $49.20 million for the quarter, compared to the consensus estimate of $53.06 million. A10 Networks’s revenue for the quarter was down 18.9% compared to the same quarter last year. As a group, sell-side analysts expect that A10 Networks Inc will post -0.25 EPS for the current year.

In other A10 Networks news, CFO Thomas Constantino sold 15,492 shares of the company’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $6.98, for a total value of $108,134.16. Following the transaction, the chief financial officer now owns 210,816 shares of the company’s stock, valued at $1,471,495.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 28.87% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Legal & General Group Plc increased its holdings in shares of A10 Networks by 8.0% in the fourth quarter. Legal & General Group Plc now owns 1,743,894 shares of the communications equipment provider’s stock valued at $10,882,000 after buying an additional 129,889 shares in the last quarter. Royce & Associates LP increased its holdings in shares of A10 Networks by 25.0% in the first quarter. Royce & Associates LP now owns 1,281,080 shares of the communications equipment provider’s stock valued at $9,083,000 after buying an additional 256,058 shares in the last quarter. ETF Managers Group LLC increased its holdings in shares of A10 Networks by 19.3% in the first quarter. ETF Managers Group LLC now owns 1,212,284 shares of the communications equipment provider’s stock valued at $8,595,000 after buying an additional 195,785 shares in the last quarter. Millennium Management LLC increased its holdings in shares of A10 Networks by 148.3% in the fourth quarter. Millennium Management LLC now owns 664,448 shares of the communications equipment provider’s stock valued at $4,146,000 after buying an additional 396,884 shares in the last quarter. Finally, Spark Investment Management LLC grew its position in A10 Networks by 72.1% during the 1st quarter. Spark Investment Management LLC now owns 639,244 shares of the communications equipment provider’s stock worth $4,532,000 after purchasing an additional 267,747 shares in the last quarter. 65.90% of the stock is currently owned by institutional investors.

About A10 Networks (NYSE:ATEN)

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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