ADTRAN Holdings, Inc. (NASDAQ:ADTN) Shares Acquired by DnB Asset Management AS

DnB Asset Management AS lifted its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 3.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 5,022,392 shares of the communications equipment provider's stock after buying an additional 184,627 shares during the quarter. DnB Asset Management AS owned 6.33% of ADTRAN worth $41,837,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Quantbot Technologies LP grew its stake in shares of ADTRAN by 104.5% during the fourth quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock valued at $124,000 after acquiring an additional 7,636 shares in the last quarter. Intech Investment Management LLC purchased a new position in ADTRAN in the third quarter valued at about $92,000. Magnetar Financial LLC acquired a new stake in ADTRAN during the 4th quarter valued at approximately $140,000. Point72 Asset Management L.P. purchased a new stake in ADTRAN during the 3rd quarter worth approximately $114,000. Finally, Inceptionr LLC purchased a new position in shares of ADTRAN during the 4th quarter valued at approximately $162,000. 80.56% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ADTN shares. Needham & Company LLC upped their price target on shares of ADTRAN from $11.00 to $14.00 and gave the company a "buy" rating in a report on Friday, February 28th. Rosenblatt Securities reaffirmed a "buy" rating and set a $15.00 price target on shares of ADTRAN in a research report on Friday, February 28th. Northland Securities boosted their price objective on ADTRAN from $9.00 to $10.00 and gave the company an "outperform" rating in a report on Thursday, December 19th. Finally, Craig Hallum started coverage on ADTRAN in a report on Wednesday, January 8th. They issued a "buy" rating and a $15.00 price target for the company. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, ADTRAN has an average rating of "Buy" and an average price target of $13.50.

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ADTRAN Stock Performance

ADTN stock traded down $0.03 during mid-day trading on Tuesday, reaching $8.69. The company had a trading volume of 388,605 shares, compared to its average volume of 908,960. The stock's 50-day simple moving average is $10.15 and its two-hundred day simple moving average is $8.47. The stock has a market capitalization of $693.98 million, a P/E ratio of -1.35 and a beta of 1.29. The company has a quick ratio of 1.17, a current ratio of 2.10 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a one year low of $4.34 and a one year high of $12.44.

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.