BTIG Research gives a Neutral recommendation for A10 Networks Inc. (ATEN)


A10 Networks Inc.’s recent filing unveils that its Chief Executive Officer Trivedi Dhrupad unloaded Company’s shares for reported $95537.0 on Aug 18. In the deal valued at $14.46 per share,6,607 shares were sold. As a result of this transaction, Trivedi Dhrupad now holds 514,165 shares worth roughly $ 7.48 million.

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Then, BRUENING MATTHEW P sold 2,080 shares, generating $30,077 in total proceeds. Upon selling the shares at $14.46, the EVP, Worldwide Sales & Mktg now owns 92,543 shares.

Before that, Becker Brian sold 1,556 shares. A10 Networks Inc. shares valued at $22,500 were divested by the Chief Financial Officer at a price of $14.46 per share. As a result of the transaction, Becker Brian now holds 41,644 shares, worth roughly $0.61 million.

BTIG Research initiated its A10 Networks Inc. [ATEN] rating to a Neutral in a research note published on Tuesday.

Price Performance Review of ATEN

On Tuesday, A10 Networks Inc. [NYSE:ATEN] saw its stock fall -4.59% to $14.55. On the same session, the stock had its day’s lowest price of $14.485, but rose to a high of $15.10. Over the last five days, the stock has lost -3.00%. A10 Networks Inc. shares have fallen nearly -12.51% since the year began. Nevertheless, the stocks have risen 9.15% over the past one year. While a 52-week high of $19.79 was reached on 01/04/23, a 52-week low of $12.61 was recorded on 05/05/23. SMA at 50 days reached $14.77, while 200 days put it at $15.32. A total of 0.96 million shares were traded, compared to the trading of 0.65 million shares in the previous session.

Levels Of Support And Resistance For ATEN Stock

The 24-hour chart illustrates a support level at 14.32, which if violated will result in even more drops to 14.10. On the upside, there is a resistance level at 14.94. A further resistance level may holdings at 15.33. The Relative Strength Index (RSI) on the 14-day chart is 44.43, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.15, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 68.18%. Stochastics %K at 72.01% indicates the stock is a holding.

How much short interest is there in A10 Networks Inc.?

A steep rise in short interest was recorded in A10 Networks Inc. stocks on Aug 14, 2023, dropping by -0.49 million shares to a total of 2.06 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.55 million shares. There was a decline of -23.79%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.52% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.23.

A10 Networks Inc. [ATEN] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 10,656,987 shares, or roughly 14.41% of the outstanding ATEN shares. In other words, the investor’s shares have risen by 519,672 from its previous 13-F filing of 10137315.0. Additionally, The Vanguard Group, Inc. increased 20.29% of its stake after which the total value it holdings stand at $102,240,080, while AllianceBernstein LP added 14.87% of its stake to hold $43.04 million in the firm. Over the last quarter, SSgA Funds Management, Inc. purchased 201,475 shares of A10 Networks Inc., while Renaissance Technologies LLC bought 16,992 shares. At present, First Trust Advisors LP is holding 2,162,378 shares valued at $33.56 million. Global X Management Co. LLC owned 2,077,678 shares of the company at the time of its most recent 13F filing, worth $32.25 million.

According to FactSet, A10 Networks Inc.’s share price will average $20.67 in the next year, based on opinions of analysts polled by the firm. This is up nearly 24.59 percent from its previous closing price of $15.25. Analysts expect A10 Networks Inc. stock to reach the higher price of $24.00, while the lowest price estimate is $19.00. However, 4 analysts have rated ATEN stock as an Overweight in their predictions for 2023.


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