14,537 Shares in Ciena Corporation $CIEN Acquired by Eurizon Capital SGR S.p.A.

Eurizon Capital SGR S.p.A. purchased a new position in shares of Ciena Corporation (NYSE:CIEN) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 14,537 shares of the communications equipment provider’s stock, valued at approximately $3,407,000.

Several other large investors have also recently made changes to their positions in CIEN. Community Bank N.A. purchased a new stake in shares of Ciena during the third quarter worth approximately $25,000. Assetmark Inc. increased its position 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 in the last quarter. Ameritas Advisory Services LLC increased its position in shares of Ciena by 104.0% during the third quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 104 shares in the last quarter. Hilltop National Bank purchased a new stake in shares of Ciena during the fourth quarter worth approximately $35,000. Finally, Clearstead Advisors LLC increased its position in shares of Ciena by 42.5% during the third quarter. Clearstead Advisors LLC now owns 312 shares of the communications equipment provider’s stock worth $45,000 after purchasing an additional 93 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, SVP Jason Phipps sold 22,014 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total transaction of $9,021,337.20. Following the transaction, the senior vice president owned 68 shares of the company’s stock, valued at approximately $27,866.40. This represents a 99.69% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the stock in a transaction dated Wednesday, April 1st. The stock was sold at an average price of $415.51, for a total value of $1,226,585.52. Following the transaction, the chief executive officer directly owned 281,365 shares in the company, valued at approximately $116,909,971.15. The trade was a 1.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 41,222 shares of company stock valued at $17,831,763. Corporate insiders own 0.58% of the company’s stock.

Ciena Stock Performance

NYSE CIEN opened at $568.43 on Tuesday. The stock has a market cap of $80.38 billion, a PE ratio of 362.06 and a beta of 1.24. The company has a current ratio of 2.81, a quick ratio of 2.14 and a debt-to-equity ratio of 0.55. Ciena Corporation has a twelve month low of $70.77 and a twelve month high of $605.61. The stock has a fifty day simple moving average of $503.80 and a 200-day simple moving average of $345.22.

Ciena (NYSE:CIEN) last released 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. The business had revenue of $1.43 billion during the quarter, compared to analysts’ expectations of $1.40 billion. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The company’s revenue was up 33.1% compared to the same quarter last year. During the same period in the prior year, the business posted $0.64 EPS. Equities analysts anticipate that Ciena Corporation will post 5.12 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CIEN has been the subject of several research reports. Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 13th. Rothschild & Co Redburn assumed coverage on Ciena in a report on Friday, May 1st. They issued a “neutral” rating and a $416.00 target price for the company. Morgan Stanley upped their target price on Ciena from $286.00 to $405.00 and gave the company an “equal weight” rating in a report on Monday, April 20th. Weiss Ratings upgraded Ciena from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 27th. Finally, Wolfe Research restated an “outperform” rating and issued a $375.00 target price on shares of Ciena in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $406.61.

Ciena 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.