Shell Asset Management Co. Sells 3,478 Shares of Infinera Co. (NASDAQ:INFN)

Shell Asset Management Co. cut its holdings in Infinera Co. (NASDAQ:INFN) by 3.3% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 100,888 shares of the communications equipment provider’s stock after selling 3,478 shares during the quarter. Shell Asset Management Co.’s holdings in Infinera were worth $608,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of INFN. Graypoint LLC grew its stake in shares of Infinera by 8.7% in the 1st quarter. Graypoint LLC now owns 30,462 shares of the communications equipment provider’s stock valued at $184,000 after buying an additional 2,438 shares during the period. ProShare Advisors LLC grew its stake in Infinera by 8.5% in the first quarter. ProShare Advisors LLC now owns 35,853 shares of the communications equipment provider’s stock valued at $216,000 after acquiring an additional 2,821 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Infinera by 16.2% during the first quarter. Principal Financial Group Inc. now owns 26,790 shares of the communications equipment provider’s stock valued at $162,000 after acquiring an additional 3,725 shares in the last quarter. Blair William & Co. IL raised its position in shares of Infinera by 8.7% during the first quarter. Blair William & Co. IL now owns 47,500 shares of the communications equipment provider’s stock worth $286,000 after purchasing an additional 3,800 shares during the period. Finally, Handelsbanken Fonder AB lifted its holdings in shares of Infinera by 12.1% in the 4th quarter. Handelsbanken Fonder AB now owns 47,406 shares of the communications equipment provider’s stock worth $225,000 after purchasing an additional 5,100 shares in the last quarter. 97.54% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on INFN shares. Stifel Nicolaus restated a “buy” rating and set a $7.00 price objective on shares of Infinera in a report on Wednesday, May 15th. Craig Hallum restated a “hold” rating and issued a $6.65 target price (down previously from $12.00) on shares of Infinera in a report on Monday, July 1st. Needham & Company LLC reaffirmed a “hold” rating on shares of Infinera in a research report on Friday, June 28th. Morgan Stanley boosted their price objective on Infinera from $5.40 to $6.65 and gave the stock an “equal weight” rating in a report on Friday, June 28th. Finally, StockNews.com started coverage on Infinera in a report on Thursday. They issued a “sell” rating on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Infinera presently has an average rating of “Hold” and an average price target of $7.55.

Infinera Trading Down 0.2 %

Shares of Infinera stock traded down $0.01 during mid-day trading on Friday, hitting $5.97. 798,088 shares of the stock were exchanged, compared to its average volume of 3,908,407. Infinera Co. has a 12 month low of $2.82 and a 12 month high of $6.62. The company has a 50-day simple moving average of $5.65 and a 200 day simple moving average of $5.30. The company has a debt-to-equity ratio of 4.08, a current ratio of 1.65 and a quick ratio of 0.97.

Infinera (NASDAQ:INFN) last posted its quarterly earnings results on Tuesday, May 14th. The communications equipment provider reported ($0.23) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.07). Infinera had a negative net margin of 5.11% and a negative return on equity of 27.68%. The company had revenue of $306.92 million for the quarter, compared to the consensus estimate of $337.73 million. On average, sell-side analysts forecast that Infinera Co. will post -0.19 earnings per share for the current fiscal year.

About Infinera

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.