ADT slides as Apollo exits remaining stake via 102M-share secondary offering

ADT Inc. (ADT) is down 5.8% today. Here is some analysis on what might have caused this price movement.

Analysis: The drop appears tied to a large secondary stock offering tied to Apollo’s planned sale of its remaining ADT shares, which can pressure the stock due to added near-term supply and “overhang” risk. ADT also announced a concurrent repurchase of a portion of the shares, but the market reaction still skewed negative on the headline size of the sale.

Details:

ADT announced a proposed secondary public offering of 102,000,366 common shares held by Apollo-affiliated selling stockholders, representing Apollo’s entire remaining stake.

The company stated it is not selling any shares in the transaction and will not receive proceeds from the offering.

ADT said it plans to repurchase up to 29,142,961 shares from the underwriters in connection with the offering, using its existing $1.5 billion share repurchase authorization.

The resale registration/prospectus materials describe the transaction structure as a selling-stockholder offering, which typically increases tradable float and can weigh on price in the short term.

Sources:

ADT Investor Relations (press release via GlobeNewswire), U.S. SEC (EDGAR prospectus filing), StreetInsider

Disclaimer: This price movement analysis was generated with the help of AI. Please double-check the information provided for mistakes.

$ADT Insider Trading Activity

$ADT insiders have traded $ADT stock on the open market 1 times in the past 6 months. Of those trades, 1 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $ADT stock by insiders over the last 6 months:

DAVID A. SCOTT (EVP, Chief People & Admin. Off) purchased 7,300 shares for an estimated $49,056

To track insider transactions, check out Quiver Quantitative's insider trading dashboard. You can access data on insider stock transactions through the Quiver Quantitative API.

$ADT Hedge Fund Activity

We have seen 231 institutional investors add shares of $ADT stock to their portfolio, and 269 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

AQR CAPITAL MANAGEMENT LLC added 8,778,704 shares (+24.3%) to their portfolio in Q4 2025, for an estimated $70,844,141
PACER ADVISORS, INC. removed 6,772,704 shares (-100.0%) from their portfolio in Q4 2025, for an estimated $54,655,721
ZIMMER PARTNERS, LP added 4,287,435 shares (+53.1%) to their portfolio in Q4 2025, for an estimated $34,599,600
UBS GROUP AG removed 4,239,459 shares (-66.9%) from their portfolio in Q4 2025, for an estimated $34,212,434
UBS AM, A DISTINCT BUSINESS UNIT OF UBS ASSET MANAGEMENT AMERICAS LLC removed 3,811,595 shares (-71.8%) from their portfolio in Q4 2025, for an estimated $30,759,571
ARROWSTREET CAPITAL, LIMITED PARTNERSHIP removed 3,688,104 shares (-21.1%) from their portfolio in Q4 2025, for an estimated $29,762,999
LAZARD ASSET MANAGEMENT LLC removed 3,400,635 shares (-71.9%) from their portfolio in Q4 2025, for an estimated $27,443,124

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard. You can access data on hedge funds moves and 13F filings through the Quiver Quantitative API.

$ADT Price Targets

Multiple analysts have issued price targets for $ADT recently. We have seen 2 analysts offer price targets for $ADT in the last 6 months, with a median target of $7.75.

Here are some recent targets:

Peter Christiansen from Citigroup set a target price of $8.5 on 03/04/2026
Toni Kaplan from Morgan Stanley set a target price of $7.0 on 03/03/2026

This article is not financial advice. See Quiver Quantitative's disclaimers for more information. Note that there may be inaccuracies due to mistakes in ticker-mapping, and other anomalies.