Insider Traded: A10 Networks Inc (ATEN) CEO Sold $231,000.00 in Shares

Insider Traded: A10 Networks Inc (ATEN) CEO Sold $231,000.00 in Shares

A10 Networks Inc (NYSE:ATEN) CEO Lee Chen sold 25,000 shares of the company’s stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $9.24, for a total value of $231,000.00. Following the completion of the transaction, the chief executive officer now directly owns 10,914,788 shares in the company, valued at $100,852,641.12. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Lee Chen also recently made the following trade(s):

Shares of A10 Networks Inc (NYSE:ATEN) opened at 9.23 on Wednesday. The firm’s market capitalization is $544.85 million. A10 Networks Inc has a 12 month low of $5.61 and a 12 month high of $10.86. The firm’s 50-day moving average price is $9.09 and its 200 day moving average price is $8.92.

A10 Networks (NYSE:ATEN) last posted its quarterly earnings results on Thursday, February 9th. The company reported $0.03 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.02 by $0.01. The business earned $64 million during the quarter, compared to the consensus estimate of $60.87 million. A10 Networks had a negative net margin of 9.10% and a negative return on equity of 24.79%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.06) earnings per share. Analysts anticipate that A10 Networks Inc will post $0.11 earnings per share for the current fiscal year.

ATEN has been the topic of several research reports. Dougherty & Co upped their target price on A10 Networks from $10.00 to $10.50 and gave the company a “buy” rating in a research report on Friday, February 10th. Zacks Investment Research downgraded A10 Networks from a “hold” rating to a “sell” rating in a research report on Thursday, February 16th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. A10 Networks has a consensus rating of “Hold” and an average price target of $9.30.

Large investors have recently added to or reduced their stakes in the company. Timpani Capital Management LLC purchased a new stake in A10 Networks during the third quarter valued at about $1,482,000. Princeton Alpha Management LP purchased a new stake in A10 Networks during the third quarter valued at about $235,000. Engineers Gate Manager LP boosted its stake in A10 Networks by 50.9% in the third quarter. Engineers Gate Manager LP now owns 61,303 shares of the company’s stock valued at $655,000 after buying an additional 20,687 shares during the period. Thompson Davis & CO. Inc. purchased a new stake in A10 Networks during the third quarter valued at about $126,000. Finally, TIAA CREF Investment Management LLC boosted its stake in A10 Networks by 74.6% in the third quarter. TIAA CREF Investment Management LLC now owns 601,662 shares of the company’s stock valued at $6,432,000 after buying an additional 257,100 shares during the period. 54.05% of the stock is owned by institutional investors and hedge funds.

A10 Networks Company Profile

A10 Networks, Inc is a provider of application networking and network security technologies. The Company’s solutions enable enterprises, service providers, Web companies and government organizations to secure and optimize the performance of their data center applications, and secure their users, applications and infrastructure from Internet, Web and network threats at scale.

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