Infinera Co. (INFN) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board lessened its position in shares of Infinera Co. (NASDAQ:INFN) by 46.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 252,599 shares of the communications equipment provider’s stock after selling 215,200 shares during the period. Canada Pension Plan Investment Board owned about 0.17% of Infinera worth $2,241,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in INFN. US Bancorp DE lifted its holdings in Infinera by 13.7% during the 2nd quarter. US Bancorp DE now owns 9,843 shares of the communications equipment provider’s stock worth $105,000 after buying an additional 1,186 shares during the last quarter. Fred Alger Management Inc. bought a new position in Infinera during the 2nd quarter worth approximately $107,000. AlphaOne Investment Services LLC bought a new position in Infinera during the 2nd quarter worth approximately $108,000. Summit Securities Group LLC bought a new position in Infinera during the 2nd quarter worth approximately $109,000. Finally, Teacher Retirement System of Texas lifted its holdings in Infinera by 3.6% during the 2nd quarter. Teacher Retirement System of Texas now owns 11,858 shares of the communications equipment provider’s stock worth $127,000 after buying an additional 409 shares during the last quarter. 90.15% of the stock is currently owned by institutional investors.

A number of research analysts have commented on INFN shares. B. Riley reaffirmed a “buy” rating and set a $12.00 target price (down previously from $14.00) on shares of Infinera in a report on Tuesday, November 7th. Deutsche Bank AG cut their price target on Infinera from $12.50 to $12.00 and set a “buy” rating on the stock in a report on Monday, August 7th. Stifel Nicolaus reissued a “hold” rating and issued a $9.00 price target (down previously from $10.00) on shares of Infinera in a report on Thursday, November 9th. MKM Partners cut their price target on Infinera from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Friday, August 18th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $13.00 price target on shares of Infinera in a report on Tuesday, September 19th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the stock. Infinera currently has an average rating of “Hold” and a consensus target price of $10.96.

TRADEMARK VIOLATION WARNING: This story was originally posted by Sports Perspectives and is the sole property of of Sports Perspectives. If you are accessing this story on another website, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The correct version of this story can be viewed at https://sportsperspectives.com/2017/11/18/infinera-co-infn-shares-sold-by-canada-pension-plan-investment-board.html.

Shares of Infinera Co. (NASDAQ INFN) opened at $7.04 on Friday. Infinera Co. has a 1 year low of $6.27 and a 1 year high of $12.50.

Infinera (NASDAQ:INFN) last posted its earnings results on Wednesday, November 8th. The communications equipment provider reported ($0.11) EPS for the quarter, beating the consensus estimate of ($0.23) by $0.12. Infinera had a negative return on equity of 20.32% and a negative net margin of 19.33%. The firm had revenue of $192.60 million for the quarter, compared to analysts’ expectations of $190.37 million. During the same period last year, the firm earned ($0.15) EPS. The firm’s revenue was up 3.8% compared to the same quarter last year. analysts forecast that Infinera Co. will post -0.85 EPS for the current fiscal year.

In other news, CEO Thomas J. Fallon purchased 100,000 shares of the stock in a transaction dated Monday, November 13th. The shares were bought at an average cost of $6.33 per share, for a total transaction of $633,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President David F. Welch sold 20,000 shares of Infinera stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $9.02, for a total value of $180,400.00. The disclosure for this sale can be found here. 2.90% of the stock is owned by company insiders.

Infinera 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.

Want to see what other hedge funds are holding INFN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Infinera Co. (NASDAQ:INFN).

Institutional Ownership by Quarter for Infinera (NASDAQ:INFN)

Receive News & Ratings for Infinera Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Infinera Co. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply