DnB Asset Management AS Boosts Position in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

DnB Asset Management AS lifted its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 3.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,022,392 shares of the communications equipment provider’s stock after purchasing an additional 184,627 shares during the quarter. DnB Asset Management AS owned about 6.33% of ADTRAN worth $41,837,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. William Blair Investment Management LLC increased its holdings in shares of ADTRAN by 2.5% during the 4th quarter. William Blair Investment Management LLC now owns 4,647,155 shares of the communications equipment provider’s stock worth $38,711,000 after buying an additional 114,986 shares during the last quarter. Geode Capital Management LLC increased its stake in ADTRAN by 3.7% during the third quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock worth $10,736,000 after acquiring an additional 63,960 shares during the last quarter. Assenagon Asset Management S.A. raised its position in ADTRAN by 39.7% in the fourth quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after purchasing an additional 263,156 shares during the period. Barclays PLC grew its holdings in shares of ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after purchasing an additional 11,880 shares during the period. Finally, State Street Corp grew its holdings in shares of ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock worth $10,484,000 after purchasing an additional 48,542 shares during the period. 80.56% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have commented on the stock. Craig Hallum started coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Needham & Company LLC increased their price objective on shares of ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Northland Securities boosted their target price on ADTRAN from $9.00 to $10.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Finally, Rosenblatt Securities restated a “buy” rating and set a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $13.50.

ADTRAN Stock Down 0.2 %

Shares of ADTRAN stock opened at $9.22 on Friday. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $12.44. The company has a market capitalization of $736.31 million, a P/E ratio of -1.42 and a beta of 1.29. The company has a 50 day moving average of $10.20 and a 200 day moving average of $8.37.

ADTRAN Profile

ADTRAN Holdings, Inc, through its subsidiaries, provides networking and communications platforms, software, systems, and services in the United States, Germany, the United Kingdom, and internationally. It operates through two segments, Network Solutions, and Services & Support. It offers residential gateways; ethernet passive optical network ONUs; gigabit passive optical network/XGS-PON ONTs; traditional SSE, routers, and switches; edge cloud; carrier ethernet network interface devices; Optical Line Terminals; Packet Aggregation, Copper Access, and Oscilloquartz; optical transport and engine solutions; infrastructure monitoring solution; and training, professional, software, and managed services.