Ciena (NYSE:CIEN) SVP Sells $121,462.00 in Stock

Ciena Corporation (NYSE:CIEN) SVP Brodie Gage sold 550 shares of the business’s stock in a transaction dated Monday, December 15th. The stock was sold at an average price of $220.84, for a total transaction of $121,462.00. Following the transaction, the senior vice president owned 39,992 shares in the company, valued at $8,831,833.28. The trade was a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Brodie Gage also recently made the following trade(s):

• On Monday, November 17th, Brodie Gage sold 111 shares of Ciena stock. The stock was sold at an average price of $190.80, for a total transaction of $21,178.80.
• On Wednesday, October 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $169.36, for a total value of $59,276.00.

Ciena Price Performance

Shares of NYSE:CIEN traded down $5.76 during midday trading on Tuesday, hitting $210.42. The company had a trading volume of 1,904,687 shares, compared to its average volume of 2,533,092. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $248.00. The stock has a market cap of $29.68 billion, a price-to-earnings ratio of 247.84, a price-to-earnings-growth ratio of 1.53 and a beta of 1.17. The company has a debt-to-equity ratio of 0.56, a current ratio of 2.73 and a quick ratio of 2.09. The business’s 50-day simple moving average is $189.69 and its 200-day simple moving average is $130.11.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.15. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The company had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.29 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The firm’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, research analysts predict that Ciena Corporation will post 1.6 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Assetmark Inc. boosted its holdings in shares of Ciena by 50.4% during the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock worth $29,000 after purchasing an additional 67 shares during the period. Global Retirement Partners LLC lifted its position in Ciena by 11.1% in the 3rd quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider’s stock worth $102,000 after buying an additional 70 shares in the last quarter. Coldstream Capital Management Inc. boosted its stake in shares of Ciena by 1.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,772 shares of the communications equipment provider’s stock valued at $695,000 after buying an additional 79 shares during the period. Nisa Investment Advisors LLC grew its holdings in shares of Ciena by 1.3% during the 3rd quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider’s stock valued at $943,000 after acquiring an additional 80 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Ciena by 2.3% in the third quarter. GAMMA Investing LLC now owns 4,071 shares of the communications equipment provider’s stock worth $593,000 after acquiring an additional 92 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on CIEN shares. Stifel Nicolaus set a $270.00 price objective on shares of Ciena in a report on Thursday. Morgan Stanley increased their price target on shares of Ciena from $185.00 to $195.00 and gave the company an “equal weight” rating in a research note on Friday. UBS Group lifted their price target on shares of Ciena from $120.00 to $230.00 and gave the company a “neutral” rating in a research report on Friday. Needham & Company LLC upped their price objective on Ciena to $280.00 and gave the company a “buy” rating in a report on Thursday, December 11th. Finally, B. Riley reiterated a “neutral” rating on shares of Ciena in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and eight have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $236.38.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.