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

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

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Blue Trust Inc. boosted its holdings in ADTRAN by 798.7% in the third quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 4,177 shares during the last quarter. Intech Investment Management LLC acquired a new position in ADTRAN during the 3rd quarter valued at about $92,000. Harbor Capital Advisors Inc. boosted its stake in shares of ADTRAN by 94.8% in the 3rd quarter. Harbor Capital Advisors Inc. now owns 18,906 shares of the communications equipment provider’s stock valued at $112,000 after purchasing an additional 9,202 shares during the last quarter. Point72 Asset Management L.P. acquired a new stake in shares of ADTRAN during the 3rd quarter worth approximately $114,000. Finally, Quantinno Capital Management LP bought a new stake in shares of ADTRAN during the third quarter worth approximately $120,000. Institutional investors and hedge funds own 80.56% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on ADTN shares. Northland Securities lifted their target price on shares of ADTRAN from $9.00 to $10.00 and gave the stock an “outperform” rating in a report on Thursday, December 19th. Needham & Company LLC reaffirmed a “buy” rating and set a $11.00 price objective on shares of ADTRAN in a research note on Thursday, January 16th. Craig Hallum initiated coverage on ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 target price on the stock. Finally, Rosenblatt Securities raised their target price on ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday, January 22nd. One 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 stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $12.75.

ADTRAN Trading Up 7.0 %

NASDAQ ADTN opened at $11.83 on Friday. 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 Holdings, Inc. has a 52 week low of $4.34 and a 52 week high of $12.03. The stock’s 50 day moving average price is $9.60 and its two-hundred day moving average price is $7.43. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10.

ADTRAN Company 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.