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

DnB Asset Management AS grew its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,022,392 shares of the communications equipment provider’s stock after purchasing an additional 184,627 shares during the quarter. DnB Asset Management AS owned approximately 0.06% of ADTRAN worth $41,837,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of ADTN. Quantbot Technologies LP lifted its position in ADTRAN by 104.5% in 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 during the last quarter. Intech Investment Management LLC purchased a new stake in shares of ADTRAN in the 3rd quarter valued at about $92,000. Magnetar Financial LLC acquired a new stake in shares of ADTRAN in the 4th quarter valued at about $140,000. Point72 Asset Management L.P. purchased a new position in ADTRAN during the 3rd quarter worth approximately $114,000. Finally, Inceptionr LLC acquired a new position in ADTRAN during the fourth quarter worth approximately $162,000. Hedge funds and other institutional investors own 80.56% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on ADTN shares. Needham & Company LLC increased their price objective on ADTRAN from $11.00 to $14.00 and gave the company a “buy” rating in a report on Friday, February 28th. Craig Hallum started coverage on shares of ADTRAN in a research report on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective on the stock. Rosenblatt Securities reaffirmed a “buy” rating and issued a $15.00 target price on shares of ADTRAN in a report on Friday, February 28th. Finally, Northland Securities increased their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a research note on Thursday, December 19th. One equities research 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 company. Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $13.50.

ADTRAN Stock Performance

Shares of ADTN stock opened at $9.22 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The stock has a 50 day simple moving average of $10.20 and a 200-day simple moving average of $8.37. The company has a market cap of $736.31 million, a price-to-earnings ratio of -1.42 and a beta of 1.29. ADTRAN Holdings, Inc. has a 12-month low of $4.34 and a 12-month 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.