A10 Networks Inc (NYSE:ATEN) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totalling 1,340,000 shares, a growth of 8.9% from the June 30th total of 1,230,000 shares. Based on an average daily volume of 501,100 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.2% of the shares of the company are short sold.

ATEN has been the subject of several recent analyst reports. Sidoti initiated coverage on shares of A10 Networks in a report on Tuesday, July 21st. They issued a “buy” rating and a $11.00 price objective for the company. Zacks Investment Research upgraded shares of A10 Networks from a “hold” rating to a “strong-buy” rating and set a $8.25 price objective for the company in a report on Monday, July 13th. Finally, BWS Financial increased their price objective on shares of A10 Networks from $9.50 to $13.50 and gave the company a “buy” rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $10.92.

NYSE:ATEN traded down $0.13 during trading hours on Friday, reaching $8.08. 809,838 shares of the company’s stock were exchanged, compared to its average volume of 586,835. The company has a market capitalization of $638.21 million, a P/E ratio of 101.00 and a beta of 0.80. A10 Networks has a 12 month low of $3.43 and a 12 month high of $8.69. The business’s 50-day simple moving average is $7.09 and its two-hundred day simple moving average is $6.65.

A10 Networks (NYSE:ATEN) last issued its earnings results on Tuesday, July 28th. The communications equipment provider reported $0.09 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.03 by $0.06. The firm had revenue of $52.50 million during the quarter, compared to analysts’ expectations of $52.19 million. A10 Networks had a net margin of 1.70% and a return on equity of 6.07%. On average, sell-side analysts forecast that A10 Networks will post 0.08 EPS for the current year.

In other news, CFO Thomas Constantino sold 15,622 shares of the stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $6.65, for a total value of $103,886.30. Following the completion of the transaction, the chief financial officer now directly owns 228,874 shares in the company, 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 sold 31,734 shares of company stock worth $214,154 in the last 90 days. 23.65% of the stock is owned by company insiders.

A number of large investors have recently modified their holdings of the stock. Mackay Shields LLC boosted its holdings in A10 Networks by 730.8% during the second quarter. Mackay Shields LLC now owns 221,000 shares of the communications equipment provider’s stock worth $1,505,000 after buying an additional 194,400 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in A10 Networks by 88.2% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 6,739 shares of the communications equipment provider’s stock worth $46,000 after purchasing an additional 3,159 shares during the period. First Trust Advisors LP boosted its stake in A10 Networks by 34.7% in the 2nd quarter. First Trust Advisors LP now owns 431,569 shares of the communications equipment provider’s stock worth $2,939,000 after purchasing an additional 111,206 shares during the period. Davy Global Fund Management Ltd acquired a new position in A10 Networks in the 2nd quarter worth approximately $330,000. Finally, SG Americas Securities LLC boosted its stake in A10 Networks by 88.4% in the 2nd quarter. SG Americas Securities LLC now owns 36,608 shares of the communications equipment provider’s stock worth $249,000 after purchasing an additional 17,173 shares during the period. Hedge funds and other institutional investors own 68.20% of the company’s stock.

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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