Brian Becker, the Chief Financial Officer of A10 Networks, Inc. (NYSE:ATEN), recently sold a portion of his holdings in the company. According to a filing with the Securities and Exchange Commission, Becker sold 1,200 shares of common stock on November 27, 2024, at a price of $16.95 per share. This transaction amounted to a total value of $20,340. The sale comes as A10 Networks trades near its 52-week high of $17.18, with the stock showing impressive momentum, up over 40% in the past year. InvestingPro analysis indicates the stock is currently trading close to its Fair Value.
Following the sale, Becker retains ownership of 32,641 shares in the company. The transaction was conducted as a direct ownership sale, and no equity swaps were involved. InvestingPro subscribers can access 15 additional investment tips for A10 Networks, including insights about the company's impressive gross profit margins of over 80% and strong financial health indicators. A comprehensive Pro Research Report is available for deeper analysis of this growing network security solutions provider.
In other recent news, A10 Networks, Inc. has announced the departure of Karen Thomas, its Executive Vice President of Worldwide Sales and Marketing, effective December 31, 2024. Despite this, the company does not anticipate any operational disruptions. On the financial front, A10 Networks reported a significant 15.5% year-over-year increase in Q3 revenue, reaching $66.7 million. This growth was driven by the company's focus on diversification and security-led solutions, which also led to a 10% revenue increase year-to-date. The company's non-GAAP net income for the quarter was $15.9 million, translating to $0.21 per diluted share. A10 Networks also declared a quarterly cash dividend of $0.06 per share. Despite a modest 3% increase in enterprise revenue year-over-year, the company is outperforming competitors and experiencing improved demand from both service providers and enterprise sectors. These recent developments highlight A10 Networks' continued growth, particularly in its security-led business.
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