Insider Selling: ADTRAN SVP Unloads 5,650 Shares of Stock (ADTN)
ADTRAN (NASDAQ:ADTN) SVP Kevin P. Heering sold 5,650 shares of ADTRAN stock in a transaction dated Friday, August 29th. The shares were sold at an average price of $23.10, for a total transaction of $130,515.00. Following the sale, the senior vice president now directly owns 150 shares in the company, valued at approximately $3,465. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
ADTRAN (NASDAQ:ADTN) traded up 0.57% during mid-day trading on Friday, hitting $23.08. 154,706 shares of the company’s stock traded hands. ADTRAN has a 1-year low of $20.72 and a 1-year high of $27.98. The stock has a 50-day moving average of $22.42 and a 200-day moving average of $23.39. The company has a market cap of $1.263 billion and a price-to-earnings ratio of 25.36.
ADTRAN (NASDAQ:ADTN) last announced its earnings results on Wednesday, July 16th. The company reported $0.26 earnings per share for the quarter, beating the analysts’ consensus estimate of $0.25 by $0.01. The company had revenue of $176.10 million for the quarter, compared to the consensus estimate of $175.68 million. During the same quarter last year, the company posted $0.17 earnings per share. ADTRAN’s revenue was up 8.6% compared to the same quarter last year. Analysts expect that ADTRAN will post $0.94 EPS for the current fiscal year.
ADTN has been the subject of a number of recent research reports. Analysts at Zacks downgraded shares of ADTRAN from a “neutral” rating to an “underperform” rating in a research note on Friday, August 8th. They now have a $20.00 price target on the stock. Separately, analysts at MKM Partners cut their price target on shares of ADTRAN from $26.00 to $25.00 in a research note on Thursday, July 17th. They now have a “neutral” rating on the stock. Finally, analysts at Needham & Company LLC cut their price target on shares of ADTRAN from $30.00 to $28.00 in a research note on Thursday, July 17th. They now have a “buy” rating on the stock. Three analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. ADTRAN has a consensus rating of “Hold” and an average price target of $22.93.
ADTRAN, Inc designs, manufactures and markets solutions and provides services and support for communications networks.
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