Veritable L.P. cut its holdings in shares of Infinera Co. (NASDAQ:INFN – Free Report) by 29.0% during the second quarter, Holdings Channel reports. The fund owned 11,311 shares of the communications equipment provider’s stock after selling 4,624 shares during the quarter. Veritable L.P.’s holdings in Infinera were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also made changes to their positions in the business. Nisa Investment Advisors LLC grew its holdings in Infinera by 128.3% in the 1st quarter. Nisa Investment Advisors LLC now owns 3,808 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 2,140 shares in the last quarter. Clear Street Markets LLC acquired a new position in Infinera in the 1st quarter valued at $39,000. Tower Research Capital LLC TRC grew its holdings in Infinera by 85.4% in the 1st quarter. Tower Research Capital LLC TRC now owns 5,291 shares of the communications equipment provider’s stock valued at $41,000 after buying an additional 2,437 shares in the last quarter. Quarry LP bought a new stake in shares of Infinera during the 1st quarter valued at $73,000. Finally, Shay Capital LLC bought a new stake in shares of Infinera during the 1st quarter valued at $87,000. 99.49% of the stock is owned by institutional investors and hedge funds.
Infinera Price Performance
Infinera stock opened at $4.22 on Tuesday. The company has a current ratio of 1.68, a quick ratio of 1.00 and a debt-to-equity ratio of 4.04. The company has a market capitalization of $957.62 million, a PE ratio of -105.50 and a beta of 1.40. Infinera Co. has a 12 month low of $2.82 and a 12 month high of $7.80. The stock has a 50-day moving average price of $3.71 and a two-hundred day moving average price of $4.28.
Analysts Set New Price Targets
Infinera Corporation provides optical transport networking equipment, software, and services worldwide. The company's product portfolio includes Infinera Groove series for modular and sled-based platforms to support a various transport network applications; Infinera 7300 series, an SDN-ready coherent optical transport system; Infinera FlexILS open optical line system that connects various Infinera and third-party terminal equipment platforms over long-distance fiber optic cable providing switching, multiplexing, amplification, and management channels; and Infinera 7090 and 7100 series for transport platforms.
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