ExodusPoint Capital Management LP Sells 162,478 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

ExodusPoint Capital Management LP lessened its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 82.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,638 shares of the communications equipment provider's stock after selling 162,478 shares during the period. ExodusPoint Capital Management LP's holdings in ADTRAN were worth $289,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Quantinno Capital Management LP bought a new stake in shares of ADTRAN during the third quarter valued at approximately $120,000. Quantbot Technologies LP increased its holdings in shares of ADTRAN by 104.5% in the 4th quarter. Quantbot Technologies LP now owns 14,945 shares of the communications equipment provider's stock worth $124,000 after purchasing an additional 7,636 shares in the last quarter. Magnetar Financial LLC purchased a new position in shares of ADTRAN in the fourth quarter worth $140,000. Inceptionr LLC bought a new position in shares of ADTRAN during the fourth quarter valued at $162,000. Finally, Catalyst Funds Management Pty Ltd boosted its position in shares of ADTRAN by 6.0% during the fourth quarter. Catalyst Funds Management Pty Ltd now owns 22,800 shares of the communications equipment provider's stock valued at $190,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors own 80.56% of the company's stock.

Analyst Ratings Changes

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

ADTRAN Price Performance

Shares of ADTRAN stock traded down $0.02 during trading on Friday, reaching $7.43. 616,304 shares of the stock traded hands, compared to its average volume of 926,383. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17. The company has a market capitalization of $594.12 million, a price-to-earnings ratio of -1.14 and a beta of 1.46. ADTRAN Holdings, Inc. has a 52-week low of $4.34 and a 52-week high of $12.44. The business has a fifty day simple moving average of $9.26 and a two-hundred day simple moving average of $8.63.

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.