A10 Networks (ATEN) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research cut shares of A10 Networks (NYSE:ATEN) from a hold rating to a sell rating in a report 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. “

Separately, DA Davidson raised A10 Networks from a neutral rating to a buy rating and set a $6.06 price target for the company in a report on Monday, December 10th.

NYSE ATEN opened at $7.01 on Wednesday. The stock has a market capitalization of $512.16 million, a P/E ratio of -31.86 and a beta of 0.73. A10 Networks has a twelve month low of $5.51 and a twelve month high of $7.46.

A10 Networks (NYSE:ATEN) last released its quarterly earnings results on Thursday, February 7th. The communications equipment provider reported $0.05 earnings per share for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. The company had revenue of $61.83 million during the quarter, compared to analysts’ expectations of $61.06 million. A10 Networks had a negative return on equity of 20.73% and a negative net margin of 11.89%. A10 Networks’s quarterly revenue was up 11.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.03 EPS. Analysts forecast that A10 Networks will post -0.26 earnings per share for the current fiscal year.

In other A10 Networks news, EVP Christopher P. White sold 9,303 shares of the stock in a transaction that occurred on Monday, January 7th. The stock was sold at an average price of $6.15, for a total transaction of $57,213.45. Following the completion of the transaction, the executive vice president now owns 81,020 shares of the company’s stock, valued at $498,273. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gunter Reiss sold 4,209 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $6.68, for a total value of $28,116.12. The disclosure for this sale can be found here. Insiders have sold 23,325 shares of company stock valued at $150,586 in the last three months. Insiders own 28.87% of the company’s stock.

Institutional investors have recently made changes to their positions in the business. MERIAN GLOBAL INVESTORS UK Ltd acquired a new position in shares of A10 Networks during the fourth quarter valued at approximately $25,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of A10 Networks by 123.2% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,748 shares of the communications equipment provider’s stock valued at $36,000 after acquiring an additional 3,173 shares during the last quarter. Teton Advisors Inc. acquired a new position in shares of A10 Networks during the fourth quarter valued at approximately $94,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of A10 Networks by 318.9% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 16,016 shares of the communications equipment provider’s stock valued at $100,000 after acquiring an additional 12,193 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System grew its position in shares of A10 Networks by 30.9% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 17,358 shares of the communications equipment provider’s stock valued at $108,000 after purchasing an additional 4,100 shares in the last quarter. 60.00% of the stock is owned by institutional investors and hedge funds.

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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