A10 Networks (NYSE:ATEN) Trading Up 7.3%

A10 Networks Inc (NYSE:ATEN)’s stock price rose 7.3% during mid-day trading on Wednesday . The stock traded as high as $7.49 and last traded at $7.49, approximately 371,148 shares were traded during mid-day trading. A decline of 12% from the average daily volume of 419,714 shares. The stock had previously closed at $6.98.

A number of equities analysts recently commented on ATEN shares. Zacks Investment Research upgraded A10 Networks from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a report on Wednesday, August 7th. ValuEngine lowered A10 Networks from a “buy” rating to a “hold” rating in a research note on Tuesday, August 6th.

The business has a 50 day moving average of $7.10 and a two-hundred day moving average of $6.85. The firm has a market cap of $525.93 million, a P/E ratio of -34.05 and a beta of 0.70.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings results on Tuesday, July 30th. The communications equipment provider reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). A10 Networks had a negative net margin of 9.67% and a negative return on equity of 16.48%. The business had revenue of $49.20 million for the quarter, compared to analyst estimates of $53.06 million. The firm’s revenue for the quarter was down 18.9% on a year-over-year basis. Equities research analysts expect that A10 Networks Inc will post -0.22 EPS for the current fiscal year.

In related news, CFO Thomas Constantino sold 15,492 shares of A10 Networks stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $6.98, for a total transaction of $108,134.16. Following the completion of the sale, the chief financial officer now owns 210,816 shares of the company’s stock, valued at approximately $1,471,495.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 28.87% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in ATEN. Quantamental Technologies LLC lifted its position in A10 Networks by 2,000.0% during the second quarter. Quantamental Technologies LLC now owns 4,935 shares of the communications equipment provider’s stock worth $34,000 after acquiring an additional 4,700 shares during the last quarter. Aperio Group LLC bought a new position in shares of A10 Networks during the second quarter worth approximately $46,000. MERIAN GLOBAL INVESTORS UK Ltd lifted its holdings in A10 Networks by 102.9% during the 1st quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 8,444 shares of the communications equipment provider’s stock worth $59,000 after purchasing an additional 4,282 shares during the last quarter. BNP Paribas Arbitrage SA lifted its holdings in A10 Networks by 27,032.5% during the 1st quarter. BNP Paribas Arbitrage SA now owns 10,853 shares of the communications equipment provider’s stock worth $77,000 after purchasing an additional 10,813 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new stake in A10 Networks during the 1st quarter worth approximately $83,000. 68.16% of the stock is currently owned by hedge funds and other 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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