ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Skandinaviska Enskilda Banken AB publ

Skandinaviska Enskilda Banken AB publ lessened its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 45.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 120,418 shares of the communications equipment provider's stock after selling 99,983 shares during the period. Skandinaviska Enskilda Banken AB publ owned about 0.15% of ADTRAN worth $1,050,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP raised its position in shares of ADTRAN by 4.3% in the fourth quarter. Quantinno Capital Management LP now owns 21,180 shares of the communications equipment provider's stock valued at $176,000 after buying an additional 877 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of ADTRAN by 11.4% in the fourth quarter. Hsbc Holdings PLC now owns 14,681 shares of the communications equipment provider's stock valued at $122,000 after buying an additional 1,501 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in ADTRAN by 3.7% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 44,821 shares of the communications equipment provider's stock valued at $373,000 after purchasing an additional 1,605 shares during the period. Tudor Investment Corp ET AL grew its holdings in ADTRAN by 0.6% in the fourth quarter. Tudor Investment Corp ET AL now owns 278,489 shares of the communications equipment provider's stock valued at $2,320,000 after purchasing an additional 1,670 shares during the period. Finally, Two Sigma Investments LP grew its holdings in ADTRAN by 5.6% in the fourth quarter. Two Sigma Investments LP now owns 96,968 shares of the communications equipment provider's stock valued at $808,000 after purchasing an additional 5,168 shares during the period. Institutional investors and hedge funds own 80.56% of the company's stock.

ADTRAN Trading Down 5.7%

ADTN traded down $0.53 during trading on Friday, hitting $8.76. 1,319,149 shares of the company's stock were exchanged, compared to its average volume of 1,119,326. The stock has a 50 day moving average price of $8.74 and a 200 day moving average price of $9.00. ADTRAN Holdings, Inc. has a 1 year low of $4.62 and a 1 year high of $12.44. The company has a current ratio of 2.02, a quick ratio of 1.18 and a debt-to-equity ratio of 1.37. The firm has a market cap of $700.61 million, a P/E ratio of -5.15 and a beta of 1.32.

ADTRAN (NASDAQ:ADTN - Get Free Report) last posted its earnings results on Wednesday, May 7th. The communications equipment provider reported $0.03 EPS for the quarter, topping analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 14.58% and a negative return on equity of 20.07%. During the same quarter in the previous year, the company earned $0.02 EPS. The company's quarterly revenue was up 9.5% on a year-over-year basis. As a group, analysts expect that ADTRAN Holdings, Inc. will post -0.5 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ADTN shares. Rosenblatt Securities lowered their target price on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a report on Tuesday, April 22nd. Wolfe Research started coverage on shares of ADTRAN in a report on Monday, July 7th. They issued a "peer perform" rating for the company. Needham & Company LLC lowered their target price on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a report on Friday, May 9th. Finally, Wall Street Zen upgraded shares of ADTRAN from a "buy" rating to a "strong-buy" rating in a research note on Saturday. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $12.00.

About ADTRAN

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.