A10 Networks Inc (NYSE:ATEN) – Analysts at DA Davidson dropped their Q3 2019 earnings per share (EPS) estimates for A10 Networks in a report issued on Wednesday. DA Davidson analyst M. Kelleher now anticipates that the communications equipment provider will post earnings of ($0.01) per share for the quarter, down from their previous forecast of $0.01. DA Davidson has a “Buy” rating and a $8.00 price target on the stock.
Several other equities analysts have also issued reports on ATEN. Zacks Investment Research lowered A10 Networks from a “hold” rating to a “sell” rating in a research note on Friday. BidaskClub upgraded A10 Networks from a “sell” rating to a “hold” rating in a research note on Saturday, September 30th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $8.88.
A10 Networks (NYSE:ATEN) last posted its earnings results on Thursday, October 26th. The communications equipment provider reported $0.03 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.01) by $0.04. A10 Networks had a negative return on equity of 17.63% and a negative net margin of 6.94%. The company had revenue of $61.40 million for the quarter, compared to analyst estimates of $59.46 million. The company’s revenue for the quarter was up 11.4% compared to the same quarter last year.
A10 Networks announced that its board has approved a share buyback program on Thursday, October 26th that permits the company to buyback 20,000,000 shares. This buyback authorization permits the communications equipment provider to buy shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.
In related news, CEO Lee Chen sold 25,000 shares of A10 Networks stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $7.38, for a total transaction of $184,500.00. Following the completion of the sale, the chief executive officer now owns 10,211,538 shares of the company’s stock, valued at $75,361,150.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan S. Henricks sold 22,590 shares of A10 Networks stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $7.34, for a total value of $165,810.60. Following the sale, the director now directly owns 41,981 shares of the company’s stock, valued at approximately $308,140.54. The disclosure for this sale can be found here. In the last three months, insiders sold 353,803 shares of company stock valued at $2,702,849. Corporate insiders own 31.57% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in ATEN. Schwab Charles Investment Management Inc. lifted its holdings in shares of A10 Networks by 16.6% during the second quarter. Schwab Charles Investment Management Inc. now owns 169,320 shares of the communications equipment provider’s stock worth $1,430,000 after purchasing an additional 24,074 shares during the period. Rhumbline Advisers lifted its holdings in shares of A10 Networks by 13.3% during the second quarter. Rhumbline Advisers now owns 53,844 shares of the communications equipment provider’s stock worth $454,000 after purchasing an additional 6,316 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of A10 Networks by 3.2% during the second quarter. Bank of New York Mellon Corp now owns 216,671 shares of the communications equipment provider’s stock worth $1,829,000 after purchasing an additional 6,708 shares during the period. Prudential Financial Inc. acquired a new stake in shares of A10 Networks during the second quarter worth about $228,000. Finally, Alliancebernstein L.P. lifted its holdings in shares of A10 Networks by 22.5% during the second quarter. Alliancebernstein L.P. now owns 41,400 shares of the communications equipment provider’s stock worth $349,000 after purchasing an additional 7,600 shares during the period. 57.80% of the stock is owned by hedge funds and other institutional investors.
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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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