A10 Networks (NYSE:ATEN) Cut to Hold at Wall Street Zen

Wall Street Zen lowered shares of A10 Networks (NYSE:ATEN) from a buy rating to a hold rating in a research report released on Saturday morning.

Several other equities research analysts have also recently issued reports on the stock. Raymond James Financial began coverage on shares of A10 Networks in a research report on Wednesday, April 23rd. They set a “market perform” rating on the stock. Mizuho began coverage on shares of A10 Networks in a research report on Monday, July 14th. They set a “neutral” rating on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of A10 Networks in a research report on Thursday, July 17th. BWS Financial reiterated a “buy” rating and set a $24.00 price objective on shares of A10 Networks in a research report on Friday, May 2nd. Finally, Craig Hallum upgraded shares of A10 Networks from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research report on Friday, May 2nd. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $22.00.

A10 Networks Trading Up 2.4%

A10 Networks stock opened at $18.17 on Friday. The stock has a market cap of $1.31 billion, a P/E ratio of 27.12, a PEG ratio of 4.21 and a beta of 1.35. The company has a debt-to-equity ratio of 1.11, a current ratio of 4.05 and a quick ratio of 3.87. A10 Networks has a 1 year low of $12.27 and a 1 year high of $21.90. The firm’s 50 day moving average price is $18.41 and its 200-day moving average price is $18.20.

Insider Buying and Selling at A10 Networks

In related news, General Counsel Robert Scott Weber sold 2,500 shares of the firm’s stock in a transaction on Tuesday, May 27th. The shares were sold at an average price of $17.26, for a total value of $43,150.00. Following the completion of the transaction, the general counsel directly owned 61,007 shares of the company’s stock, valued at approximately $1,052,980.82. This trade represents a 3.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 1.15% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Haven Private LLC boosted its stake in A10 Networks by 2.9% during the second quarter. Haven Private LLC now owns 43,321 shares of the communications equipment provider’s stock worth $838,000 after buying an additional 1,227 shares during the period. AdvisorShares Investments LLC purchased a new position in A10 Networks during the second quarter worth $471,000. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in A10 Networks by 69.7% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 233,891 shares of the communications equipment provider’s stock worth $4,526,000 after buying an additional 96,095 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in A10 Networks by 5.4% during the second quarter. Linden Thomas Advisory Services LLC now owns 13,863 shares of the communications equipment provider’s stock worth $268,000 after buying an additional 708 shares during the period. Finally, Asset Management One Co. Ltd. purchased a new position in A10 Networks during the second quarter worth $817,000. 98.61% of the stock is owned by hedge funds and other institutional investors.

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.