A10 Networks (NYSE:ATEN) Stock Price Expected to Rise, Craig Hallum Analyst Says

A10 Networks (NYSE:ATEN - Get Free Report) had its price target upped by Craig Hallum from $16.00 to $18.00 in a research note issued on Wednesday,Benzinga reports. The brokerage presently has a "hold" rating on the communications equipment provider's stock. Craig Hallum's price objective would suggest a potential downside of 12.20% from the company's previous close.

Several other equities analysts have also commented on the stock. BWS Financial reaffirmed a "buy" rating and set a $24.00 price target on shares of A10 Networks in a research report on Wednesday. StockNews.com upgraded A10 Networks from a "hold" rating to a "buy" rating in a report on Wednesday, October 16th.

A10 Networks Price Performance

ATEN traded down $0.05 during trading on Wednesday, hitting $20.50. The company's stock had a trading volume of 545,622 shares, compared to its average volume of 661,918. A10 Networks has a twelve month low of $12.27 and a twelve month high of $20.96. The stock has a market cap of $1.51 billion, a PE ratio of 30.60 and a beta of 1.14. The firm's 50 day moving average price is $18.79 and its 200-day moving average price is $15.89.

A10 Networks (NYSE:ATEN - Get Free Report) last released its earnings results on Tuesday, February 4th. The communications equipment provider reported $0.25 EPS for the quarter, beating the consensus estimate of $0.22 by $0.03. A10 Networks had a return on equity of 23.44% and a net margin of 19.16%. Equities analysts anticipate that A10 Networks will post 0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Karen S. Thomas sold 6,162 shares of A10 Networks stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $16.70, for a total transaction of $102,905.40. Following the sale, the executive vice president now owns 23,799 shares in the company, valued at $397,443.30. This trade represents a 20.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 5.81% of the stock is currently owned by insiders.

Institutional Investors Weigh In On A10 Networks

A number of large investors have recently added to or reduced their stakes in the company. Squarepoint Ops LLC purchased a new position in shares of A10 Networks during the 2nd quarter valued at approximately $280,000. Millennium Management LLC acquired a new stake in A10 Networks in the second quarter valued at $9,562,000. The Manufacturers Life Insurance Company boosted its stake in A10 Networks by 2.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 27,239 shares of the communications equipment provider's stock valued at $377,000 after acquiring an additional 776 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in A10 Networks by 11.6% during the 3rd quarter. Exchange Traded Concepts LLC now owns 127,476 shares of the communications equipment provider's stock worth $1,841,000 after acquiring an additional 13,272 shares in the last quarter. Finally, Wedge Capital Management L L P NC increased its position in shares of A10 Networks by 20.7% in the 3rd quarter. Wedge Capital Management L L P NC now owns 94,064 shares of the communications equipment provider's stock worth $1,358,000 after purchasing an additional 16,128 shares during the last quarter. 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.