White Pine Capital LLC Sells 1,109 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

White Pine Capital LLC decreased its holdings in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 280,609 shares of the communications equipment provider’s stock after selling 1,109 shares during the quarter. White Pine Capital LLC owned about 0.35% of ADTRAN worth $2,337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADTN. SG Americas Securities LLC boosted its position in shares of ADTRAN by 24.7% in the fourth quarter. SG Americas Securities LLC now owns 35,424 shares of the communications equipment provider’s stock valued at $295,000 after acquiring an additional 7,011 shares during the period. Assenagon Asset Management S.A. raised its stake in ADTRAN by 39.7% during 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 purchasing an additional 263,156 shares during the last quarter. JPMorgan Chase & Co. grew its position in ADTRAN by 12.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 124,914 shares of the communications equipment provider’s stock worth $741,000 after purchasing an additional 13,478 shares during the last quarter. Barclays PLC increased its holdings in shares of ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock worth $686,000 after purchasing an additional 11,880 shares during the period. Finally, Geode Capital Management LLC raised its position 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 buying an additional 63,960 shares during the last quarter. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analyst Upgrades and Downgrades

ADTN has been the topic of a number of recent research reports. Northland Securities lifted their target price 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 lifted their price objective on ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. Craig Hallum started coverage on ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $11.00 price target on shares of ADTRAN in a research note on Thursday, January 16th. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and an average target price of $12.75.

ADTRAN Stock Performance

Shares of NASDAQ:ADTN opened at $11.83 on Friday. 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 business’s fifty day moving average price is $9.60 and its two-hundred day moving average price is $7.43. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $12.03. The stock has a market capitalization of $938.19 million, a price-to-earnings ratio of -1.82 and a beta of 1.29.

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.