William Blair Investment Management LLC Purchases 114,986 Shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN)

William Blair Investment Management LLC raised its position in shares of ADTRAN Holdings, Inc. (NASDAQ:ADTN) by 2.5% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,647,155 shares of the communications equipment provider’s stock after purchasing an additional 114,986 shares during the quarter. William Blair Investment Management LLC owned 5.86% of ADTRAN worth $38,711,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Geode Capital Management LLC increased its stake in ADTRAN by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,810,112 shares of the communications equipment provider’s stock valued at $10,736,000 after purchasing an additional 63,960 shares in the last quarter. Assenagon Asset Management S.A. increased 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 in the last quarter. Barclays PLC increased its stake in ADTRAN by 11.4% during the 3rd quarter. Barclays PLC now owns 115,741 shares of the communications equipment provider’s stock valued at $686,000 after purchasing an additional 11,880 shares in the last quarter. State Street Corp increased its stake in ADTRAN by 2.8% during the 3rd quarter. State Street Corp now owns 1,767,902 shares of the communications equipment provider’s stock valued at $10,484,000 after purchasing an additional 48,542 shares in the last quarter. Finally, Proficio Capital Partners LLC bought a new stake in ADTRAN during the 4th quarter valued at about $300,000. 80.56% of the stock is currently owned by institutional investors.

ADTRAN Stock Performance

ADTN opened at $9.18 on Tuesday. The company has a current ratio of 2.10, a quick ratio of 1.17 and a debt-to-equity ratio of 0.89. The company has a market cap of $733.11 million, a price-to-earnings ratio of -1.41 and a beta of 1.29. The company’s 50 day moving average is $10.35 and its 200 day moving average is $8.19. ADTRAN Holdings, Inc. has a 12-month low of $4.34 and a 12-month high of $12.44.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. Northland Securities lifted 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 assumed coverage on shares of ADTRAN in a research note on Wednesday, January 8th. They issued a “buy” rating and a $15.00 price target for the company. Rosenblatt Securities reiterated a “buy” rating and issued a $15.00 price target on shares of ADTRAN in a research note on Friday, February 28th. Finally, Needham & Company LLC lifted their price target on shares of ADTRAN from $11.00 to $14.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $13.50.

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.