William Blair Investment Management LLC Acquires 114,986 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

William Blair Investment Management LLC lifted its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN - Free Report) by 2.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,647,155 shares of the communications equipment provider's stock after acquiring an additional 114,986 shares during the quarter. William Blair Investment Management LLC owned approximately 5.86% of ADTRAN worth $38,711,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADTN. Geode Capital Management LLC boosted its stake in shares of 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 purchasing an additional 63,960 shares in the last quarter. State Street Corp boosted its position in ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider's stock worth $10,484,000 after buying an additional 48,542 shares during the period. First Eagle Investment Management LLC grew its holdings in ADTRAN by 24.5% during the 4th quarter. First Eagle Investment Management LLC now owns 1,246,807 shares of the communications equipment provider's stock worth $10,386,000 after acquiring an additional 245,000 shares during the last quarter. Assenagon Asset Management S.A. increased its position in ADTRAN by 39.7% in 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. Finally, Kovack Advisors Inc. raised its stake in shares of ADTRAN by 2.7% during the fourth quarter. Kovack Advisors Inc. now owns 799,950 shares of the communications equipment provider's stock valued at $6,664,000 after acquiring an additional 21,100 shares during the last quarter. Institutional investors own 80.56% of the company's stock.

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ADTRAN Trading Up 1.9 %

NASDAQ ADTN traded up $0.17 during trading hours on Friday, hitting $9.21. 1,902,488 shares of the company's stock were exchanged, compared to its average volume of 878,792. The firm has a market cap of $735.51 million, a price-to-earnings ratio of -1.41 and a beta of 1.29. The stock has a 50-day simple moving average of $10.28 and a 200 day simple moving average of $8.23. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. ADTRAN Holdings, Inc. has a 1-year low of $4.34 and a 1-year high of $12.44.

Analyst Upgrades and Downgrades

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

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.