A10 Networks (NYSE:ATEN) Releases Quarterly Earnings Results

Key Points

• A10 Networks reported quarterly earnings of $0.16 EPS, missing the consensus estimate of $0.21 EPS by $0.05.
• The company's stock traded down $0.36 to $17.81, with a market capitalization of $1.28 billion.
• Insider activity noted that General Counsel Robert Scott Weber sold 2,500 shares of A10 Networks, representing a 3.94% decrease in their position.

A10 Networks (NYSE:ATEN - Get Free Report) released its quarterly earnings results on Tuesday. The communications equipment provider reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.01, Briefing.com reports. A10 Networks had a return on equity of 24.23% and a net margin of 18.70%. The firm had revenue of $69.38 million for the quarter, compared to analysts' expectations of $65.99 million. During the same quarter last year, the firm posted $0.18 EPS. The company's revenue was up 15.5% compared to the same quarter last year.

A10 Networks Stock Performance

NYSE:ATEN opened at $17.81 on Wednesday. The firm has a market cap of $1.28 billion, a PE ratio of 26.58, a price-to-earnings-growth ratio of 4.31 and a beta of 1.35. A10 Networks has a fifty-two week low of $12.27 and a fifty-two week high of $21.90. The company has a debt-to-equity ratio of 1.11, a quick ratio of 3.87 and a current ratio of 4.05. The business has a 50 day moving average price of $18.44 and a 200-day moving average price of $18.19.

Insider Buying and Selling at A10 Networks

In other news, General Counsel Robert Scott Weber sold 2,500 shares of the stock in a transaction that occurred on Tuesday, May 27th. The stock was sold at an average price of $17.26, for a total transaction of $43,150.00. Following the completion of the sale, the general counsel owned 61,007 shares of the company's stock, valued at approximately $1,052,980.82. This 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 Investors Weigh In On A10 Networks

Large investors have recently made changes to their positions in the business. Acadian Asset Management LLC bought a new stake in shares of A10 Networks in the 1st quarter worth approximately $771,000. Intech Investment Management LLC grew its position in shares of A10 Networks by 81.7% in the 1st quarter. Intech Investment Management LLC now owns 73,995 shares of the communications equipment provider's stock worth $1,209,000 after buying an additional 33,262 shares during the last quarter. Jane Street Group LLC grew its position in shares of A10 Networks by 120.0% in the 1st quarter. Jane Street Group LLC now owns 173,493 shares of the communications equipment provider's stock worth $2,835,000 after buying an additional 94,641 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of A10 Networks by 5.9% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 202,658 shares of the communications equipment provider's stock worth $3,311,000 after buying an additional 11,268 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of A10 Networks by 131.3% during the first quarter. Royal Bank of Canada now owns 213,118 shares of the communications equipment provider's stock valued at $3,482,000 after purchasing an additional 120,966 shares in the last quarter. 98.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ATEN. Weiss Ratings reaffirmed a "hold (c)" rating on shares of A10 Networks in a report on Saturday. BWS Financial reissued a "buy" rating and set a $24.00 price objective on shares of A10 Networks in a report on Friday, May 2nd. Craig Hallum raised A10 Networks from a "hold" rating to a "buy" rating and set a $20.00 price objective on the stock in a report on Friday, May 2nd. Mizuho started coverage on A10 Networks in a report on Monday, July 14th. They set a "neutral" rating on the stock. Finally, Deutsche Bank Aktiengesellschaft started coverage on A10 Networks in a report on Friday, June 27th. They set a "buy" rating and a $22.00 price objective on the stock. Three research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $22.00.

A10 Networks Company Profile

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.