A10 Networks, Inc. (NYSE:ATEN) Sees Significant Decrease in Short Interest

A10 Networks, Inc. (NYSE:ATEN) was the recipient of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 1,350,000 shares, a drop of 12.9% from the September 30th total of 1,550,000 shares. Based on an average daily trading volume, of 623,000 shares, the short-interest ratio is presently 2.2 days. Approximately 1.9% of the company’s shares are short sold.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. StockNews.com upgraded A10 Networks from a “hold” rating to a “buy” rating in a research note on Wednesday, October 16th. BWS Financial reissued a “buy” rating and issued a $17.00 price objective on shares of A10 Networks in a research note on Tuesday, July 9th.

Institutional Investors Weigh In On A10 Networks

Large investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in A10 Networks by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 7,068,348 shares of the communications equipment provider’s stock worth $93,090,000 after purchasing an additional 102,501 shares in the last quarter. BNP Paribas Financial Markets boosted its stake in shares of A10 Networks by 20.4% in the 1st quarter. BNP Paribas Financial Markets now owns 106,548 shares of the communications equipment provider’s stock valued at $1,459,000 after purchasing an additional 18,073 shares in the last quarter. Texas Permanent School Fund Corp increased its holdings in A10 Networks by 1.6% during the 1st quarter. Texas Permanent School Fund Corp now owns 61,174 shares of the communications equipment provider’s stock valued at $837,000 after purchasing an additional 973 shares during the period. Russell Investments Group Ltd. boosted its position in A10 Networks by 4.4% during the 1st quarter. Russell Investments Group Ltd. now owns 585,827 shares of the communications equipment provider’s stock valued at $8,020,000 after acquiring an additional 24,672 shares in the last quarter. Finally, ProShare Advisors LLC lifted its holdings in shares of A10 Networks by 7.4% during the first quarter. ProShare Advisors LLC now owns 14,226 shares of the communications equipment provider’s stock valued at $195,000 after purchasing an additional 984 shares during the last quarter. 98.61% of the stock is currently owned by institutional investors and hedge funds.

A10 Networks Trading Up 0.8 %

Shares of NYSE:ATEN traded up $0.12 during trading on Tuesday, hitting $14.68. 226,869 shares of the company’s stock were exchanged, compared to its average volume of 720,565. The firm has a market cap of $1.09 billion, a P/E ratio of 23.87 and a beta of 1.11. The firm has a 50-day moving average price of $13.96 and a two-hundred day moving average price of $13.99. A10 Networks has a 1-year low of $10.55 and a 1-year high of $16.46.

A10 Networks (NYSE:ATEN) last announced its quarterly earnings data on Tuesday, July 30th. The communications equipment provider reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.17 by $0.01. A10 Networks had a return on equity of 21.29% and a net margin of 17.51%. The company had revenue of $60.10 million for the quarter, compared to analysts’ expectations of $64.30 million. The business’s revenue was down 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.14 EPS. As a group, research analysts predict that A10 Networks will post 0.65 EPS for the current year.

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.