Craig Hallum Boosts A10 Networks (NYSE:ATEN) Price Target to $16.00

A10 Networks (NYSE:ATEN - Get Free Report) had its price target increased by research analysts at Craig Hallum from $15.00 to $16.00 in a note issued to investors on Wednesday, Benzinga reports. The firm currently has a "buy" rating on the communications equipment provider's stock. Craig Hallum's price objective indicates a potential upside of 4.07% from the stock's previous close.

Separately, BWS Financial upped their target price on A10 Networks from $15.00 to $17.00 and gave the stock a "buy" rating in a report on Wednesday, February 7th.

A10 Networks Stock Performance

NYSE ATEN traded up $2.31 during trading on Wednesday, hitting $15.38. The stock had a trading volume of 1,893,335 shares, compared to its average volume of 661,034. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 29.49 and a beta of 1.10. The stock has a 50 day simple moving average of $13.50 and a 200 day simple moving average of $12.92. A10 Networks has a one year low of $10.03 and a one year high of $15.99.

A10 Networks (NYSE:ATEN - Get Free Report) last released its earnings results on Tuesday, April 30th. The communications equipment provider reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.15 by $0.02. The business had revenue of $60.70 million during the quarter, compared to the consensus estimate of $59.43 million. A10 Networks had a return on equity of 21.67% and a net margin of 15.88%. The business's revenue for the quarter was up 5.2% compared to the same quarter last year. During the same period last year, the company earned $0.09 earnings per share. On average, sell-side analysts predict that A10 Networks will post 0.66 EPS for the current year.

Insider Activity

In other news, CEO Dhrupad Trivedi sold 8,679 shares of the stock in a transaction on Monday, February 5th. The stock was sold at an average price of $13.06, for a total transaction of $113,347.74. Following the completion of the sale, the chief executive officer now owns 556,420 shares in the company, valued at approximately $7,266,845.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, CEO Dhrupad Trivedi sold 8,679 shares of the stock in a transaction that occurred on Monday, February 5th. The shares were sold at an average price of $13.06, for a total value of $113,347.74. Following the completion of the transaction, the chief executive officer now directly owns 556,420 shares of the company's stock, valued at approximately $7,266,845.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Brian Becker sold 15,000 shares of the company's stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $12.93, for a total transaction of $193,950.00. Following the transaction, the chief financial officer now owns 34,252 shares in the company, valued at approximately $442,878.36. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 121,146 shares of company stock worth $1,598,166. Corporate insiders own 5.82% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ATEN. First Trust Advisors LP raised its position in A10 Networks by 83.9% during the 4th quarter. First Trust Advisors LP now owns 4,470,999 shares of the communications equipment provider's stock worth $58,883,000 after buying an additional 2,040,007 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of A10 Networks by 37.4% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 2,486,953 shares of the communications equipment provider's stock worth $32,753,000 after purchasing an additional 676,509 shares during the last quarter. Trigran Investments Inc. lifted its position in A10 Networks by 41.0% during the third quarter. Trigran Investments Inc. now owns 1,273,768 shares of the communications equipment provider's stock valued at $19,145,000 after purchasing an additional 370,240 shares during the period. Penserra Capital Management LLC boosted its holdings in A10 Networks by 140.7% in the third quarter. Penserra Capital Management LLC now owns 517,002 shares of the communications equipment provider's stock valued at $7,770,000 after purchasing an additional 302,203 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in A10 Networks by 93.6% during the 4th quarter. Russell Investments Group Ltd. now owns 561,155 shares of the communications equipment provider's stock worth $7,390,000 after purchasing an additional 271,303 shares during the period. 98.61% of the stock is owned by institutional investors and hedge funds.

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.