Pathstone Holdings LLC Sells 99,135 Shares of Infinera Co. (NASDAQ:INFN)

Pathstone Holdings LLC reduced its position in Infinera Co. (NASDAQ:INFN - Free Report) by 28.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 252,396 shares of the communications equipment provider's stock after selling 99,135 shares during the period. Pathstone Holdings LLC owned about 0.11% of Infinera worth $1,704,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INFN. Vanguard Group Inc. increased its holdings in Infinera by 9.3% in the first quarter. Vanguard Group Inc. now owns 27,049,371 shares of the communications equipment provider's stock worth $163,108,000 after buying an additional 2,299,025 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its position in Infinera by 22.4% in the second quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 11,057,935 shares of the communications equipment provider's stock worth $67,343,000 after acquiring an additional 2,025,658 shares in the last quarter. Hood River Capital Management LLC increased its stake in shares of Infinera by 14.2% during the 2nd quarter. Hood River Capital Management LLC now owns 4,753,842 shares of the communications equipment provider's stock worth $28,951,000 after purchasing an additional 591,611 shares during the last quarter. AIGH Capital Management LLC raised its holdings in shares of Infinera by 278.8% during the 2nd quarter. AIGH Capital Management LLC now owns 3,368,556 shares of the communications equipment provider's stock valued at $20,515,000 after purchasing an additional 2,479,272 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in shares of Infinera by 37.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,759,906 shares of the communications equipment provider's stock valued at $16,802,000 after purchasing an additional 748,155 shares during the last quarter. 97.54% of the stock is owned by hedge funds and other institutional investors.

Infinera Stock Performance

Shares of INFN remained flat at $6.61 during mid-day trading on Thursday. The stock had a trading volume of 1,635,150 shares, compared to its average volume of 4,806,405. The business has a 50 day moving average of $6.71 and a 200-day moving average of $6.13. The firm has a market capitalization of $1.57 billion, a price-to-earnings ratio of -13.77 and a beta of 1.71. The company has a debt-to-equity ratio of 4.98, a current ratio of 1.58 and a quick ratio of 0.97. Infinera Co. has a 12 month low of $3.79 and a 12 month high of $6.92.

Infinera (NASDAQ:INFN - Get Free Report) last released its earnings results on Tuesday, November 5th. The communications equipment provider reported ($0.06) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.07). The company had revenue of $354.40 million for the quarter, compared to analyst estimates of $401.96 million. Infinera had a negative net margin of 7.62% and a negative return on equity of 45.12%. Analysts expect that Infinera Co. will post -0.25 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on INFN shares. B. Riley downgraded shares of Infinera from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, November 6th. Rosenblatt Securities reissued a "neutral" rating and set a $6.65 price objective on shares of Infinera in a report on Wednesday, November 6th. JPMorgan Chase & Co. raised their price objective on Infinera from $5.00 to $6.00 and gave the company an "underweight" rating in a research note on Tuesday, August 6th. StockNews.com raised Infinera from a "sell" rating to a "hold" rating in a research report on Thursday, November 7th. Finally, Berenberg Bank raised shares of Infinera to a "hold" rating in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $7.09.

Infinera Profile

Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.