A10 Networks' (ATEN) "Hold (C+)" Rating Reaffirmed at Weiss Ratings

Key Points

• A10 Networks' stock has been reaffirmed with a "Hold (C+)" rating by Weiss Ratings, with other analysts giving it a >"Buy" rating and a target price of $22.00.
• The company's recent earnings report indicated a per share profit of $0.21, exceeding estimates, with a 15.5% increase in quarterly revenue year-over-year.
• Insider selling was noted, with CFO Brian Becker selling 6,400 shares for approximately $115,392, reducing his stake in the company.

A10 Networks (NYSE:ATEN - Get Free Report)'s stock had its "hold (c+)" rating reiterated by stock analysts at Weiss Ratings in a note issued to investors on Wednesday,Weiss Ratings reports.

A number of other equities research analysts also recently commented on ATEN. Deutsche Bank Aktiengesellschaft assumed coverage on A10 Networks in a research note on Friday, June 27th. They issued a "buy" rating and a $22.00 price objective for the company. BTIG Research raised A10 Networks from a "neutral" rating to a "buy" rating and set a $22.00 target price for the company in a research note on Wednesday, August 6th. Wall Street Zen raised A10 Networks from a "hold" rating to a "buy" rating in a research report on Sunday, August 10th. Finally, Mizuho started coverage on A10 Networks in a research report on Monday, July 14th. They set a "neutral" rating for the company. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $22.00.

A10 Networks Stock Performance

NYSE ATEN opened at $17.60 on Wednesday. The company has a market cap of $1.27 billion, a PE ratio of 25.88 and a beta of 1.37. The stock's 50 day simple moving average is $18.26 and its 200-day simple moving average is $17.84. A10 Networks has a 1-year low of $12.72 and a 1-year high of $21.90. The company has a debt-to-equity ratio of 1.07, a current ratio of 4.23 and a quick ratio of 4.04.

A10 Networks (NYSE:ATEN - Get Free Report) last released its earnings results on Tuesday, August 5th. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01. The business had revenue of $69.38 million for the quarter, compared to the consensus estimate of $65.99 million. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The business's quarterly revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.18 earnings per share. As a group, equities research analysts anticipate that A10 Networks will post 0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of the stock in a transaction on Wednesday, August 13th. The stock was sold at an average price of $18.03, for a total transaction of $115,392.00. Following the sale, the chief financial officer owned 77,599 shares in the company, valued at approximately $1,399,109.97. This represents a 7.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.15% of the company's stock.

Institutional Investors Weigh In On A10 Networks

Hedge funds have recently made changes to their positions in the business. Vestcor Inc purchased a new position in shares of A10 Networks in the 1st quarter worth $44,000. Sunbelt Securities Inc. acquired a new position in A10 Networks in the fourth quarter worth about $50,000. Caitong International Asset Management Co. Ltd acquired a new position in A10 Networks in the first quarter worth about $55,000. CWM LLC grew its stake in A10 Networks by 45.6% in the first quarter. CWM LLC now owns 4,644 shares of the communications equipment provider's stock worth $76,000 after purchasing an additional 1,454 shares in the last quarter. Finally, Tower Research Capital LLC TRC boosted its stake in A10 Networks by 120.7% in the second quarter. Tower Research Capital LLC TRC now owns 5,898 shares of the communications equipment provider's stock valued at $114,000 after acquiring an additional 3,225 shares during the period. Institutional investors and hedge funds own 98.61% of the company's stock.

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.

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