Marshall Wace North America L.P. acquired a new stake in shares of Infinera Corporation (NASDAQ:INFN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 38,833 shares of the communications equipment provider’s stock, valued at approximately $427,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Teachers Advisors LLC increased its holdings in Infinera Corporation by 1.9% in the 4th quarter. Teachers Advisors LLC now owns 232,239 shares of the communications equipment provider’s stock worth $1,972,000 after buying an additional 4,268 shares during the period. Wells Fargo & Company MN increased its holdings in Infinera Corporation by 4.2% in the 1st quarter. Wells Fargo & Company MN now owns 1,611,289 shares of the communications equipment provider’s stock worth $16,483,000 after buying an additional 65,192 shares during the period. First Trust Advisors LP increased its holdings in Infinera Corporation by 39.4% in the 1st quarter. First Trust Advisors LP now owns 219,796 shares of the communications equipment provider’s stock worth $2,249,000 after buying an additional 62,105 shares during the period. Bank of New York Mellon Corp increased its holdings in Infinera Corporation by 12.3% in the 1st quarter. Bank of New York Mellon Corp now owns 5,843,534 shares of the communications equipment provider’s stock worth $59,779,000 after buying an additional 640,819 shares during the period. Finally, Comerica Bank acquired a new position in Infinera Corporation in the 1st quarter worth approximately $943,000. Hedge funds and other institutional investors own 86.70% of the company’s stock.

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In other news, President David F. Welch sold 40,000 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $12.09, for a total value of $483,600.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President David F. Welch sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $9.29, for a total value of $185,800.00. The disclosure for this sale can be found here. In the last three months, insiders sold 65,000 shares of company stock worth $729,400. Corporate insiders own 2.90% of the company’s stock.

Shares of Infinera Corporation (NASDAQ:INFN) opened at 8.41 on Thursday. Infinera Corporation has a 52 week low of $7.23 and a 52 week high of $12.50. The stock’s 50 day moving average is $9.34 and its 200-day moving average is $10.19. The firm’s market cap is $1.25 billion.

Infinera Corporation (NASDAQ:INFN) last released its earnings results on Thursday, August 3rd. The communications equipment provider reported ($0.24) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.23) by ($0.01). The company had revenue of $176.28 million during the quarter, compared to analyst estimates of $181.16 million. Infinera Corporation had a negative net margin of 18.18% and a negative return on equity of 12.39%. The company’s revenue for the quarter was down 31.9% on a year-over-year basis. During the same period in the previous year, the firm posted $0.21 EPS. On average, equities analysts predict that Infinera Corporation will post ($0.56) EPS for the current fiscal year.

Several equities analysts recently weighed in on the stock. B. Riley upgraded shares of Infinera Corporation from a “neutral” rating to a “buy” rating and increased their price target for the stock from $9.50 to $14.00 in a report on Thursday, June 22nd. Zacks Investment Research upgraded shares of Infinera Corporation from a “sell” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub downgraded shares of Infinera Corporation from a “sell” rating to a “strong sell” rating in a report on Thursday, July 6th. Needham & Company LLC reiterated a “strong-buy” rating and issued a $13.00 price target on shares of Infinera Corporation in a report on Thursday, August 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $10.00 price target on shares of Infinera Corporation in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, five have given a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $11.82.

Infinera Corporation Profile

Infinera Corporation provides optical transport networking equipment, software and services to telecommunications service providers, Internet content providers (ICPs), cable providers, wholesale and enterprise carriers, research and education institutions, enterprise customers and government entities across the globe.

Institutional Ownership by Quarter for Infinera Corporation (NASDAQ:INFN)

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