ADTRAN Holdings, Inc. (NASDAQ:ADTN) Stock Position Decreased by XTX Topco Ltd

XTX Topco Ltd cut its stake in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 9.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 79,180 shares of the communications equipment provider’s stock after selling 8,699 shares during the quarter. XTX Topco Ltd owned 0.10% of ADTRAN worth $470,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADTN. Paradigm Capital Management Inc. NY lifted its holdings in shares of ADTRAN by 173.1% in the second quarter. Paradigm Capital Management Inc. NY now owns 2,447,100 shares of the communications equipment provider’s stock valued at $12,872,000 after purchasing an additional 1,551,000 shares in the last quarter. Millennium Management LLC lifted its holdings in shares of ADTRAN by 8,824.3% in the second quarter. Millennium Management LLC now owns 1,549,621 shares of the communications equipment provider’s stock valued at $8,151,000 after purchasing an additional 1,532,257 shares in the last quarter. Divisar Capital Management LLC lifted its holdings in shares of ADTRAN by 25.0% in the second quarter. Divisar Capital Management LLC now owns 5,740,461 shares of the communications equipment provider’s stock valued at $30,195,000 after purchasing an additional 1,146,774 shares in the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of ADTRAN by 1,545.2% in the third quarter. Assenagon Asset Management S.A. now owns 662,154 shares of the communications equipment provider’s stock valued at $3,927,000 after purchasing an additional 621,906 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of ADTRAN by 3,656.1% during the second quarter. Marshall Wace LLP now owns 444,198 shares of the communications equipment provider’s stock worth $2,336,000 after acquiring an additional 432,372 shares in the last quarter. 80.56% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ADTN shares. Rosenblatt Securities upgraded ADTRAN from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $6.00 to $10.00 in a report on Friday, November 8th. StockNews.com upgraded ADTRAN from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Needham & Company LLC increased their price objective on ADTRAN from $8.00 to $11.00 and gave the stock a “buy” rating in a report on Friday, November 8th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $9.50.

ADTRAN Price Performance

NASDAQ ADTN opened at $8.54 on Friday. ADTRAN Holdings, Inc. has a fifty-two week low of $4.34 and a fifty-two week high of $9.21. The stock’s 50-day moving average is $7.31 and its two-hundred day moving average is $6.12. 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 firm has a market cap of $677.27 million, a P/E ratio of -1.31 and a beta of 1.29.

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.