A10 Networks (ATEN)
Protects and accelerates application traffic across enterprise, service-provider, cloud, and AI infrastructure.
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Sells application delivery, carrier-grade networking, DDoS defense, web and API protection, and AI-security tools to service providers and enterprises worldwide. Hardware and software sales are paired with renewable support and subscription revenue, while most revenue comes from service providers and nearly all orders flow through resellers.
Secures and accelerates applications and network traffic for service providers, cloud platforms, governments, and enterprises worldwide. Thunder ADC handles application delivery and load balancing; Thunder CGN manages carrier-grade address translation; Thunder CFW and SSL Insight provide encrypted-traffic visibility. A10 Defend covers DDoS, web, API, bot, and threat-intelligence defenses, while A10 Control centralizes policy and analytics.
Runs these products on ACOS across hardware appliances, software-only, virtual, containerized, cloud-native, and SaaS deployments. The architecture combines high-volume traffic processing, low latency, availability, and embedded security. Product sales are paired with maintenance, support, subscriptions, and renewals. Recent acquisitions of ThreatX Protect and TrojAI extended protection to web applications, APIs, AI models, and agents.
Serves the Americas, Asia-Pacific, Europe, the Middle East, and Africa. Service providers account for most revenue; nearly all orders are fulfilled through resellers, and third parties manufacture the hardware.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Sep 1, 2026 | Deutsche Bank | Downgrade | ||
| Aug 31, 2026 | Deutsche Bank | Initiate | Rating: —Target: — | Target: $28 |
| Jul 15, 2026 | Mizuho Securities | Target | Target: $30 | Target: $34 |
| Jun 18, 2026 | BTIG | Target | Target: — | Target: $37 |
| Jun 16, 2026 | Piper Sandler | Target | Target: — | Target: $45 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $357.3M · Total debt $219.5M · Total assets $677.7M · Shareholders' equity $238.0M
- Revenue
- $80.1M
- Operating income
- $9.0M
- Net income
- $8.9M
HistoryDividendAnnual yield
| Institutions | ≈ 105.18% | 76.37M shares | |
|---|---|---|---|
| 317 holders · as of Jun 30, 2026 · largest filers plus last quarter's tail | |||
| Insiders | 6.06% | 4.40M shares | |
| 10 holders · as of Aug 25, 2026 | |||
| Strategic holders | 13.34% | 9.68M shares | |
| 1 holder · as of May 9, 2022 | |||
| Adds to | 124.58% | ||
72.61M company shares as of Sep 22, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
This quarter's institutional total failed a plausibility check; shown: the largest filers plus last quarter's remainder.
These groups come from separate filings that can overlap, so they add to 124.58%; nothing is left for Other.
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 18.69% | 13.57M | as of Jun 30, 2026 |
BlackRock, Inc.Strategic | 13.34% | 9.68M | filed May 9, 2022 |
First Trust Portfolios L.P.Institution | 6.62% | 4.81M | filed Jul 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 4.77% | 3.46M | as of Jun 30, 2026 |
First Trust Advisors LPInstitution | 4.47% | 3.24M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Aug 25, 2026 | Dana Elizabeth Wolf | director | −2,652 | $25.65 |
| Aug 11, 2026 | Robert Scott Weber | officer: General Counsel | −14,086 | $27.86 |
| May 5, 2026 | Eric Singer | director | −24,698 | $27.21 |
| Feb 12, 2026 | Dhrupad Trivedi | director, officer: Chief Executive Officer | −33,333 | $20.56 |
| Feb 11, 2026 | Dhrupad Trivedi | director, officer: Chief Executive Officer | −33,333 | $20.69 |
- F5
ADC, DDoS, SSL, and WAAP peer across hybrid app delivery
- Radware
Direct DDoS, ADC, and WAAP overlap with secure delivery
- Cloudflare
Cloud WAAP, DDoS, API security, and bot-management overlap
- Akamai Technologies
Cloud-delivered DDoS, WAAP, API, and bot protection overlap
- Fortinet
Broad overlap in CGN, firewalls, ADC, DDoS, and app security
- NETSCOUT Systems
Arbor DDoS overlap for service-provider and enterprise networks
- Cisco Systems
Carrier routing, firewall, and DDoS edge substitute
- Hewlett Packard Enterprise
Carrier networking and firewall overlap through Juniper assets
CompareAfter hours
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| A10 Networks | $26.70 | 0.00% | $1.94B | 44.9 | 24.6 | 6.3 | +15.5% |
| F5 | $295.19 | −34.89% | $25.39B | 35.9 | 26.1 | 7.7 | +10.9% |
| Radware | $29.22 | −1.05% | $1.27B | 77.7 | 23.3 | 4.0 | +10.9% |
| Cloudflare | $353.03 | +0.02% | $124.85B | — | 237.9 | 49.7 | +35.9% |
| Akamai Technologies | $118.46 | +0.08% | $17.07B | 42.2 | 17.2 | 3.9 | +5.4% |
| Fortinet | $173.75 | −0.29% | $128.57B | 61.7 | 49.5 | 17.1 | +25.6% |
| NETSCOUT Systems | $39.14 | 0.00% | $2.83B | 23.6 | 14.4 | 3.2 | +12.7% |
| Cisco Systems | $106.07 | −0.35% | $439.31B | 33.5 | 20.8 | 6.9 | +17.6% |
| Hewlett Packard Enterprise | $61.03 | −0.02% | $81.78B | 32.2 | 13.4 | 2.0 | +33.5% |
| Median | 35.9 | 22.1 | 5.5 | +15.1% |