ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Sold by Jane Street Group LLC

Jane Street Group LLC trimmed its holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 27.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 629,958 shares of the communications equipment provider's stock after selling 235,969 shares during the quarter. Jane Street Group LLC owned approximately 0.79% of ADTRAN worth $3,736,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. State Street Corp boosted its position in ADTRAN by 2.8% in the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock valued at $10,484,000 after buying an additional 48,542 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of ADTRAN in the third quarter valued at approximately $120,000. Point72 Asset Management L.P. bought a new position in ADTRAN in the third quarter worth approximately $114,000. Intech Investment Management LLC bought a new stake in ADTRAN during the 3rd quarter valued at $92,000. Finally, Kovack Advisors Inc. lifted its holdings in shares of ADTRAN by 20.9% in the 3rd quarter. Kovack Advisors Inc. now owns 778,850 shares of the communications equipment provider's stock worth $4,619,000 after buying an additional 134,900 shares during the period. 80.56% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ADTN. Needham & Company LLC lifted their price objective on ADTRAN from $8.00 to $11.00 and gave the company a "buy" rating in a report on Friday, November 8th. Rosenblatt Securities raised shares of ADTRAN from a "neutral" rating to a "buy" rating and upped their price target for the stock from $6.00 to $10.00 in a research report on Friday, November 8th. Northland Securities lifted their price objective on shares of ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Thursday. Finally, StockNews.com raised shares of ADTRAN from a "sell" rating to a "hold" rating in a research note on Wednesday, October 2nd. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and an average target price of $10.33.

ADTRAN Stock Performance

NASDAQ ADTN traded down $0.20 during mid-day trading on Friday, reaching $8.19. 1,199,012 shares of the stock were exchanged, compared to its average volume of 800,882. The company has a market capitalization of $649.52 million, a P/E ratio of -1.26 and a beta of 1.29. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The business's 50 day moving average is $7.52 and its 200-day moving average is $6.20. ADTRAN Holdings, Inc. has a 1 year low of $4.34 and a 1 year high of $9.21.

ADTRAN Company 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.