Deutsche Bank AG lifted its holdings in shares of Infinera (NASDAQ:INFN) by 93.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 709,383 shares of the communications equipment provider’s stock after acquiring an additional 342,690 shares during the quarter. Deutsche Bank AG owned 0.47% of Infinera worth $4,488,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Nationwide Fund Advisors increased its position in shares of Infinera by 127.3% during the third quarter. Nationwide Fund Advisors now owns 214,224 shares of the communications equipment provider’s stock worth $1,900,000 after acquiring an additional 119,968 shares during the last quarter. Teton Advisors Inc. increased its position in shares of Infinera by 67.0% during the fourth quarter. Teton Advisors Inc. now owns 196,600 shares of the communications equipment provider’s stock worth $1,244,000 after acquiring an additional 78,900 shares during the last quarter. Wells Fargo & Company MN increased its position in shares of Infinera by 8.1% during the third quarter. Wells Fargo & Company MN now owns 1,748,085 shares of the communications equipment provider’s stock worth $15,505,000 after acquiring an additional 130,573 shares during the last quarter. Ameriprise Financial Inc. increased its position in shares of Infinera by 33.4% during the third quarter. Ameriprise Financial Inc. now owns 374,852 shares of the communications equipment provider’s stock worth $3,327,000 after acquiring an additional 93,825 shares during the last quarter. Finally, Carillon Tower Advisers Inc. purchased a new stake in shares of Infinera during the fourth quarter worth about $17,528,000. 87.32% of the stock is currently owned by institutional investors and hedge funds.
NASDAQ:INFN opened at $11.34 on Monday. The stock has a market capitalization of $1,708.16, a P/E ratio of -13.66 and a beta of 0.53. Infinera has a one year low of $6.10 and a one year high of $12.38.
In other Infinera news, insider David F. Welch sold 60,000 shares of Infinera stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $9.07, for a total value of $544,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider David F. Welch sold 149,093 shares of Infinera stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $10.03, for a total value of $1,495,402.79. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 289,093 shares of company stock valued at $2,770,803. 2.90% of the stock is currently owned by insiders.
A number of analysts have recently issued reports on INFN shares. BidaskClub raised Infinera from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Zacks Investment Research lowered Infinera from a “hold” rating to a “sell” rating in a research report on Wednesday, January 3rd. Citigroup dropped their target price on Infinera from $8.50 to $7.50 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. ValuEngine lowered Infinera from a “sell” rating to a “strong sell” rating in a research report on Friday, February 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Infinera in a research report on Tuesday, February 6th. Eight investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $11.46.
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Infinera Corporation provides optical transport networking solutions, equipment, and software and services worldwide. The company's product portfolio consists of Infinera DTN-X Family of terabit-class transport network platforms, including the XTC Series, XTS Series, and XT Series; Infinera DTN-X XTC series multi-terabit packet optical transport platforms that integrate digital OTN switching and optical WDM transmission; and Infinera DTN-X XT series for terrestrial applications and XTS series for subsea applications.
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