Coyle Financial Counsel LLC Has $2.20 Million Stock Holdings in Ciena Corporation $CIEN

Coyle Financial Counsel LLC lessened its stake in shares of Ciena Corporation (NYSE:CIEN) by 13.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,424 shares of the communications equipment provider’s stock after selling 1,454 shares during the period. Ciena accounts for 0.5% of Coyle Financial Counsel LLC’s portfolio, making the stock its 26th largest holding. Coyle Financial Counsel LLC’s holdings in Ciena were worth $2,204,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Eurizon Capital SGR S.p.A. acquired a new position in Ciena during the fourth quarter valued at approximately $3,407,000. Fideuram Asset Management Ireland dac acquired a new position in Ciena during the fourth quarter valued at approximately $1,663,000. National Pension Service acquired a new position in Ciena during the fourth quarter valued at approximately $49,679,000. SBI Okasan Asset Management Co.Ltd. acquired a new position in Ciena during the fourth quarter valued at approximately $83,000. Finally, Jupiter Asset Management Ltd. grew its holdings in Ciena by 144.8% during the fourth quarter. Jupiter Asset Management Ltd. now owns 19,868 shares of the communications equipment provider’s stock valued at $4,647,000 after purchasing an additional 11,751 shares during the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

Analysts Set New Price Targets

CIEN has been the topic of several research analyst reports. JPMorgan Chase & Co. raised their price objective on shares of Ciena from $380.00 to $550.00 and gave the stock an “overweight” rating in a research note on Thursday, April 16th. Raymond James Financial restated an “outperform” rating and issued a $320.00 price objective on shares of Ciena in a research note on Thursday, March 5th. Citigroup raised their price objective on shares of Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research note on Monday, May 18th. Stifel Nicolaus set a $615.00 price objective on shares of Ciena in a research note on Friday. Finally, B. Riley Financial raised their price objective on shares of Ciena from $222.00 to $283.00 and gave the stock a “neutral” rating in a research note on Friday, March 6th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $406.61.

Insiders Place Their Bets

In other Ciena news, CEO Gary B. Smith sold 2,952 shares of Ciena stock in a transaction on Friday, May 15th. The stock was sold at an average price of $562.05, for a total transaction of $1,659,171.60. Following the completion of the transaction, the chief executive officer directly owned 272,509 shares of the company’s stock, valued at approximately $153,163,683.45. This trade represents a 1.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction on Friday, May 15th. The shares were sold at an average price of $570.65, for a total value of $684,780.00. Following the transaction, the senior vice president directly owned 43,941 shares of the company’s stock, valued at approximately $25,074,931.65. The trade was a 2.66% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 44,174 shares of company stock worth $18,878,661 over the last 90 days. Corporate insiders own 0.58% of the company’s stock.

Ciena Stock Up 1.8%

CIEN opened at $580.59 on Friday. Ciena Corporation has a fifty-two week low of $70.77 and a fifty-two week high of $605.61. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. The firm’s fifty day moving average price is $500.69 and its two-hundred day moving average price is $341.74. The company has a market capitalization of $82.09 billion, a P/E ratio of 369.80, a P/E/G ratio of 1.87 and a beta of 1.24.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.18. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The firm had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.40 billion. During the same quarter in the previous year, the company earned $0.64 earnings per share. The business’s revenue was up 33.1% compared to the same quarter last year. On average, analysts anticipate that Ciena Corporation will post 5.12 EPS for the current year.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.