ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Herald Investment Management Ltd

Herald Investment Management Ltd reduced its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 25.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the communications equipment provider's stock after selling 100,000 shares during the period. Herald Investment Management Ltd owned approximately 0.38% of ADTRAN worth $2,499,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ADTN. State Street Corp grew its position in ADTRAN by 2.8% during the third quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock worth $10,484,000 after buying an additional 48,542 shares during the period. Barclays PLC grew its holdings in shares of ADTRAN by 11.4% in the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider's stock worth $686,000 after acquiring an additional 11,880 shares during the period. Geode Capital Management LLC increased its stake in ADTRAN by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider's stock valued at $10,736,000 after purchasing an additional 63,960 shares in the last quarter. JPMorgan Chase & Co. boosted its position in ADTRAN by 12.1% during the third quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider's stock worth $741,000 after purchasing an additional 13,478 shares in the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings 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 last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. Needham & Company LLC boosted 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. Craig Hallum initiated coverage on ADTRAN in a research report on Wednesday, January 8th. They set a "buy" rating and a $15.00 price objective for the company. Finally, Rosenblatt Securities dropped their price target on ADTRAN from $15.00 to $11.00 and set a "buy" rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, ADTRAN has a consensus rating of "Buy" and a consensus target price of $12.50.

ADTRAN Trading Up 2.9 %

ADTN traded up $0.22 during midday trading on Wednesday, hitting $7.69. The company's stock had a trading volume of 382,808 shares, compared to its average volume of 927,244. The firm has a 50-day moving average price of $9.10 and a two-hundred day moving average price of $8.67. The company has a current ratio of 2.10, a quick ratio of 1.17 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 firm has a market cap of $614.91 million, a P/E ratio of -1.18 and a beta of 1.46.

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.