Skandinaviska Enskilda Banken AB publ Has $1.83 Million Holdings in ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Skandinaviska Enskilda Banken AB publ grew its position in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 220,401 shares of the communications equipment provider’s stock after buying an additional 5,382 shares during the quarter. Skandinaviska Enskilda Banken AB publ’s holdings in ADTRAN were worth $1,829,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in ADTN. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of ADTRAN in the 4th quarter valued at approximately $340,000. AlphaQuest LLC purchased a new stake in shares of ADTRAN in the fourth quarter valued at $242,000. Inceptionr LLC acquired a new stake in shares of ADTRAN in the fourth quarter worth $162,000. Raymond James Financial Inc. acquired a new stake in shares of ADTRAN in the fourth quarter worth $2,146,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of ADTRAN during the fourth quarter valued at $300,000. 80.56% of the stock is currently owned by institutional investors and hedge funds.

ADTRAN Stock Up 0.9 %

ADTN opened at $9.18 on Tuesday. The company has a market capitalization of $733.11 million, a PE ratio of -1.41 and a beta of 1.29. The business has a 50-day moving average of $10.35 and a 200-day moving average of $8.19. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $12.44. The company has a debt-to-equity ratio of 0.89, a current ratio of 2.10 and a quick ratio of 1.17.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADTN shares. 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. Needham & Company LLC increased their price target on shares of ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Craig Hallum assumed 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. 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 report on Thursday, December 19th. One 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. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $13.50.

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.