Inspire Investing LLC Sells 21,179 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Inspire Investing LLC reduced its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 30.4% in the fourth quarter, HoldingsChannel reports. The firm owned 48,461 shares of the communications equipment provider’s stock after selling 21,179 shares during the quarter. Inspire Investing LLC’s holdings in ADTRAN were worth $404,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Geode Capital Management LLC grew its position 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 valued at $10,736,000 after buying an additional 63,960 shares during the period. Renaissance Technologies LLC boosted its stake in shares of ADTRAN by 26.4% during the 2nd quarter. Renaissance Technologies LLC now owns 680,340 shares of the communications equipment provider’s stock worth $3,579,000 after acquiring an additional 142,100 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of ADTRAN by 39.7% during the 4th quarter. Assenagon Asset Management S.A. now owns 925,310 shares of the communications equipment provider’s stock valued at $7,708,000 after acquiring an additional 263,156 shares during the period. Barclays PLC increased its stake 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 purchasing an additional 11,880 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new position in ADTRAN in the 2nd quarter worth $681,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ADTN shares. Rosenblatt Securities boosted their price target on ADTRAN from $10.00 to $15.00 and gave the company a “buy” rating in a report on Wednesday. Craig Hallum began coverage on ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective for the company. StockNews.com upgraded shares of ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Northland Securities upped their price target on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research report on Thursday, December 19th. Finally, Needham & Company LLC restated a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a research report on Thursday, January 16th. One research 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 MarketBeat, the stock has a consensus rating of “Buy” and a consensus target price of $12.75.

ADTRAN Trading Down 0.3 %

ADTN stock opened at $10.31 on Friday. The company has a market capitalization of $817.69 million, a price-to-earnings ratio of -1.58 and a beta of 1.28. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $11.23. The business has a 50 day simple moving average of $8.95 and a two-hundred day simple moving average of $6.98.

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.