A10 Networks Inc (NYSE:ATEN) EVP Robert D. Cochran sold 10,197 shares of the firm’s stock in a transaction dated Tuesday, February 13th. The shares were 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 accessible through the SEC website.
Shares of A10 Networks Inc (ATEN) traded up $0.18 during trading hours on Thursday, hitting $6.44. The stock had a trading volume of 340,682 shares, compared to its average volume of 775,972. A10 Networks Inc has a 52-week low of $5.70 and a 52-week high of $9.80. The company has a market capitalization of $455.64, a PE ratio of -26.83 and a beta of 0.80.
A10 Networks declared that its Board of Directors has initiated a share buyback plan on Thursday, October 26th that authorizes the company to buyback 20,000,000 outstanding shares. This buyback authorization authorizes the communications equipment provider to repurchase shares of its stock through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
Large investors have recently made changes to their positions in the company. Virtu Financial LLC bought a new position in shares of A10 Networks during the fourth quarter valued at about $107,000. Stoneridge Investment Partners LLC bought a new position in shares of A10 Networks during the third quarter valued at about $109,000. Teacher Retirement System of Texas bought a new position in shares of A10 Networks during the fourth quarter valued at about $133,000. Acadian Asset Management LLC bought a new position in shares of A10 Networks during the fourth quarter valued at about $147,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of A10 Networks during the fourth quarter valued at about $168,000. 58.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have weighed in on ATEN. Zacks Investment Research downgraded A10 Networks from a “buy” rating to a “hold” rating in a research report on Monday, January 1st. DA Davidson set a $8.00 price target on A10 Networks and gave the company a “buy” rating in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $8.33.
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About A10 Networks
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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