A10 Networks (NYSE:ATEN) Posts Earnings Results, Beats Estimates By $0.02 EPS

A10 Networks (NYSE:ATEN) posted its quarterly earnings data on Tuesday. The communications equipment provider reported $0.23 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.02, Briefing.com reports. The business had revenue of $74.68 million for the quarter, compared to analyst estimates of $70.70 million. A10 Networks had a return on equity of 25.46% and a net margin of 18.45%.The firm’s revenue for the quarter was up 11.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share.

A10 Networks Stock Down 2.0%

NYSE ATEN opened at $17.60 on Wednesday. The company has a current ratio of 4.23, a quick ratio of 4.04 and a debt-to-equity ratio of 1.07. The stock’s 50 day moving average is $17.87 and its two-hundred day moving average is $17.84. The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of 25.89 and a beta of 1.27. A10 Networks has a 1-year low of $13.81 and a 1-year high of $21.90.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ATEN. Weiss Ratings reiterated a “hold (c+)” rating on shares of A10 Networks in a research note on Wednesday, October 8th. BTIG Research upgraded shares of A10 Networks from a “neutral” rating to a “buy” rating and set a $22.00 price target on the stock in a research report on Wednesday, August 6th. Mizuho assumed coverage on shares of A10 Networks in a research report on Monday, July 14th. They issued a “neutral” rating on the stock. Finally, Wall Street Zen upgraded shares of A10 Networks from a “hold” rating to a “buy” rating in a research report on Sunday, August 10th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $22.00.

Insiders Place Their Bets

In other A10 Networks news, CFO Brian Becker sold 6,400 shares of A10 Networks stock in a transaction that occurred 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 directly owned 77,599 shares of the company’s stock, valued at approximately $1,399,109.97. The trade was a 7.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 1.15% of the company’s stock.

Hedge Funds Weigh In On A10 Networks

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC boosted its position 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 buying an additional 3,225 shares in the last quarter. State of Wyoming boosted its position in A10 Networks by 346.7% in the second quarter. State of Wyoming now owns 13,545 shares of the communications equipment provider’s stock valued at $262,000 after buying an additional 10,513 shares in the last quarter. Quantinno Capital Management LP boosted its position in A10 Networks by 22.9% in the second quarter. Quantinno Capital Management LP now owns 15,738 shares of the communications equipment provider’s stock valued at $305,000 after buying an additional 2,935 shares in the last quarter. Creative Planning boosted its position in A10 Networks by 36.0% in the second quarter. Creative Planning now owns 21,518 shares of the communications equipment provider’s stock valued at $416,000 after buying an additional 5,696 shares in the last quarter. Finally, Norges Bank acquired a new position in A10 Networks in the second quarter valued at about $508,000. 98.61% of the stock is currently 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.