ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Ameriprise Financial Inc.

Ameriprise Financial Inc. trimmed its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 10.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,427 shares of the communications equipment provider's stock after selling 34,205 shares during the quarter. Ameriprise Financial Inc. owned about 0.39% of ADTRAN worth $2,569,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in ADTN. Vanguard Group Inc. increased its holdings in shares of ADTRAN by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 6,592,419 shares of the communications equipment provider's stock valued at $54,915,000 after purchasing an additional 41,478 shares during the last quarter. DnB Asset Management AS grew its holdings in ADTRAN by 3.8% in the 4th quarter. DnB Asset Management AS now owns 5,022,392 shares of the communications equipment provider's stock valued at $41,837,000 after buying an additional 184,627 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of ADTRAN by 2.5% in 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 acquiring an additional 114,986 shares during the last quarter. Schonfeld Strategic Advisors LLC purchased a new position in shares of ADTRAN during the 4th quarter worth $12,921,000. Finally, First Eagle Investment Management LLC boosted its position in shares of ADTRAN by 24.5% during the 4th quarter. First Eagle Investment Management LLC now owns 1,246,807 shares of the communications equipment provider's stock valued at $10,386,000 after acquiring an additional 245,000 shares during the last quarter. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Trading Down 1.5%

Shares of ADTRAN stock traded down $0.12 during trading hours on Friday, hitting $8.04. The company's stock had a trading volume of 1,332,193 shares, compared to its average volume of 938,305. The stock has a market cap of $643.02 million, a price-to-earnings ratio of -1.24 and a beta of 1.33. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. ADTRAN Holdings, Inc. has a twelve month low of $4.62 and a twelve month high of $12.44. The firm has a fifty day moving average of $7.94 and a 200-day moving average of $8.95.

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, beating analysts' consensus estimates of ($0.02) by $0.05. ADTRAN had a negative net margin of 56.95% and a negative return on equity of 38.62%. During the same period in the previous year, the company earned $0.02 EPS. ADTRAN's quarterly revenue was up 9.5% on a year-over-year basis. Research analysts forecast that ADTRAN Holdings, Inc. will post -0.5 EPS for the current year.

Analyst Ratings Changes

Several research firms recently issued reports on ADTN. Needham & Company LLC cut their price objective on shares of ADTRAN from $14.00 to $12.00 and set a "buy" rating for the company in a research report on Friday, May 9th. Rosenblatt Securities dropped their price target on shares of ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.