Bank of New York Mellon Corp raised its position in A10 Networks Inc (NYSE:ATEN) by 11.7% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 270,177 shares of the communications equipment provider’s stock after buying an additional 28,329 shares during the period. Bank of New York Mellon Corp owned 0.35% of A10 Networks worth $1,840,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the business. First Trust Advisors LP bought a new position in A10 Networks in the 1st quarter valued at $1,741,000. Arizona State Retirement System bought a new position in A10 Networks in the 1st quarter valued at $78,000. Russell Investments Group Ltd. bought a new position in A10 Networks in the 1st quarter valued at $257,000. Mackay Shields LLC bought a new position in A10 Networks in the 1st quarter valued at $165,000. Finally, Swiss National Bank boosted its holdings in A10 Networks by 1.7% in the 1st quarter. Swiss National Bank now owns 104,300 shares of the communications equipment provider’s stock valued at $648,000 after purchasing an additional 1,700 shares during the period. Hedge funds and other institutional investors own 73.27% of the company’s stock.

ATEN has been the subject of several analyst reports. Zacks Investment Research raised shares of A10 Networks from a “hold” rating to a “strong-buy” rating and set a $8.25 price target for the company in a report on Monday, July 13th. TheStreet raised shares of A10 Networks from a “c+” rating to a “b-” rating in a report on Monday, August 24th. Sidoti lifted their price objective on shares of A10 Networks from $11.00 to $13.00 and gave the stock a “buy” rating in a report on Friday, September 18th. Finally, BWS Financial lifted their price objective on shares of A10 Networks from $9.50 to $13.50 and gave the stock a “buy” rating in a report on Wednesday, July 29th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $11.58.

In related news, CFO Thomas Constantino sold 15,622 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $6.65, for a total transaction of $103,886.30. Following the sale, the chief financial officer now owns 228,874 shares of the company’s stock, valued at $1,522,012.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have sold 24,622 shares of company stock worth $170,576 in the last three months. 23.65% of the stock is currently owned by insiders.

NYSE:ATEN opened at $6.49 on Monday. A10 Networks Inc has a one year low of $3.43 and a one year high of $9.21. The company’s 50-day simple moving average is $7.92 and its 200 day simple moving average is $6.91. The firm has a market capitalization of $505.76 million, a P/E ratio of 129.80 and a beta of 0.90.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings data on Tuesday, July 28th. The communications equipment provider reported $0.09 EPS for the quarter, topping the consensus estimate of $0.03 by $0.06. A10 Networks had a net margin of 1.70% and a return on equity of 6.03%. The business had revenue of $52.50 million for the quarter, compared to analyst estimates of $52.19 million. As a group, analysts anticipate that A10 Networks Inc will post 0.17 earnings per share for the current year.

About A10 Networks

A10 Networks, Inc provides software and hardware solutions in the United States, Japan, other Asia Pacific and EMEA countries, and internationally. The company offers Thunder application delivery controller (ADC) that provides advanced server load balancing; Lightning ADC, a cloud-native software-as-a-service platform to boost the delivery and security of applications and micro services; and Thunder carrier grade network address translation product, which offers network address and protocol translation services for service provider networks.

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Institutional Ownership by Quarter for A10 Networks (NYSE:ATEN)

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