Inspire Investing LLC Sells 21,179 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

Inspire Investing LLC trimmed its stake in ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 30.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 48,461 shares of the communications equipment provider’s stock after selling 21,179 shares during the period. Inspire Investing LLC owned 0.06% of ADTRAN worth $404,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Blue Trust Inc. boosted its holdings in shares of ADTRAN by 798.7% during the 3rd quarter. Blue Trust Inc. now owns 4,700 shares of the communications equipment provider’s stock valued at $28,000 after buying an additional 4,177 shares in the last quarter. Park Avenue Securities LLC bought a new stake in ADTRAN during the third quarter worth about $65,000. Point72 DIFC Ltd purchased a new stake in ADTRAN in the second quarter worth about $69,000. Intech Investment Management LLC bought a new position in shares of ADTRAN during the third quarter valued at approximately $92,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of ADTRAN by 94.8% during the third 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. Hedge funds and other institutional investors own 80.56% of the company’s stock.

ADTRAN Price Performance

NASDAQ ADTN opened at $10.31 on Friday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.17 and a current ratio of 2.10. The company has a market capitalization of $817.69 million, a price-to-earnings ratio of -1.58 and a beta of 1.28. The stock has a 50-day moving average of $8.95 and a 200 day moving average of $6.98. ADTRAN Holdings, Inc. has a one year low of $4.34 and a one year high of $11.23.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on ADTN shares. StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $11.00 price target on shares of ADTRAN in a report on Thursday, January 16th. Northland Securities upped their price target 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. Craig Hallum initiated coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They set a “buy” rating and a $15.00 price objective for the company. Finally, Rosenblatt Securities lifted their target price on shares of ADTRAN from $10.00 to $15.00 and gave the stock a “buy” rating in a report on Wednesday. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $12.75.

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.