A10 Networks (NYSE:ATEN) was downgraded by DA Davidson from a “buy” rating to a “neutral” rating in a report issued on Monday, Marketbeat Ratings reports. They currently have a $7.00 price target on the communications equipment provider’s stock, down from their prior price target of $8.00. DA Davidson’s target price indicates a potential upside of 14.57% from the stock’s current price.
Other equities research analysts have also recently issued reports about the company. Zacks Investment Research cut A10 Networks from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. ValuEngine cut A10 Networks from a “sell” rating to a “strong sell” rating in a research report on Thursday, March 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company. A10 Networks presently has an average rating of “Hold” and a consensus target price of $8.00.
Shares of A10 Networks stock opened at $6.11 on Monday. The firm has a market capitalization of $462.01, a PE ratio of -24.44 and a beta of 0.71. A10 Networks has a 12-month low of $5.70 and a 12-month high of $9.75.
In related news, EVP Robert D. Cochran sold 10,197 shares of A10 Networks stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $5.98, for a total value of $60,978.06. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Lee Chen sold 25,000 shares of A10 Networks stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $7.74, for a total value of $193,500.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 139,407 shares of company stock worth $1,051,043. 31.57% of the stock is currently owned by insiders.
A number of hedge funds have recently bought and sold shares of ATEN. Millennium Management LLC boosted its holdings in A10 Networks by 1,033.5% in the 4th quarter. Millennium Management LLC now owns 1,269,858 shares of the communications equipment provider’s stock worth $9,803,000 after buying an additional 1,157,827 shares during the last quarter. Alliancebernstein L.P. lifted its stake in A10 Networks by 33.0% in the 4th quarter. Alliancebernstein L.P. now owns 3,876,042 shares of the communications equipment provider’s stock worth $29,923,000 after purchasing an additional 960,720 shares in the last quarter. Spark Investment Management LLC purchased a new position in A10 Networks in the 4th quarter worth approximately $5,068,000. Renaissance Technologies LLC lifted its stake in A10 Networks by 22.0% in the 4th quarter. Renaissance Technologies LLC now owns 2,796,200 shares of the communications equipment provider’s stock worth $21,587,000 after purchasing an additional 503,500 shares in the last quarter. Finally, Divisar Capital Management LLC lifted its stake in A10 Networks by 15.1% in the 4th quarter. Divisar Capital Management LLC now owns 2,390,453 shares of the communications equipment provider’s stock worth $18,454,000 after purchasing an additional 314,235 shares in the last quarter. Institutional investors own 62.18% of the company’s stock.
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A10 Networks Company Profile
A10 Networks, Inc is a provider of software and hardware solutions. The Company’s solutions enable its customers to secure and optimize the performance of their data center and cloud applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.
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