Flatrock Wealth Partners LLC Purchases Shares of 5,010 Ciena Corporation $CIEN

Flatrock Wealth Partners LLC acquired a new position in Ciena Corporation (NYSE:CIEN) during the first quarter, HoldingsChannel reports. The institutional investor acquired 5,010 shares of the communications equipment provider’s stock, valued at approximately $1,945,000. Ciena comprises about 0.9% of Flatrock Wealth Partners LLC’s portfolio, making the stock its 26th biggest position.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Elyxium Wealth LLC bought a new stake in Ciena in the fourth quarter worth $2,747,810,000. Corient Private Wealth LLC lifted its position in Ciena by 30,114.5% during the fourth quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock valued at $671,365,000 after purchasing an additional 2,861,176 shares during the last quarter. Lone Pine Capital LLC purchased a new position in shares of Ciena in the 3rd quarter worth $292,310,000. Price T Rowe Associates Inc. MD increased its holdings in shares of Ciena by 53.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock worth $947,554,000 after buying an additional 1,404,132 shares during the last quarter. Finally, Atreides Management LP bought a new stake in shares of Ciena in the 2nd quarter worth about $102,705,000. 91.99% of the stock is currently owned by institutional investors.

Ciena Price Performance

CIEN opened at $418.27 on Wednesday. The company has a market capitalization of $59.21 billion, a price-to-earnings ratio of 139.42 and a beta of 1.27. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53. Ciena Corporation has a 12-month low of $76.89 and a 12-month high of $637.51. The business’s fifty day simple moving average is $510.15 and its 200-day simple moving average is $393.93.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.18. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. During the same period in the prior year, the firm earned $0.42 earnings per share. The firm’s revenue for the quarter was up 39.5% compared to the same quarter last year. On average, equities research analysts anticipate that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CIEN has been the subject of several recent research reports. Citigroup lifted their price target on Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research report on Monday, May 18th. Weiss Ratings lowered Ciena from a “buy (b)” rating to a “buy (b-)” rating in a report on Tuesday, June 23rd. Raymond James Financial lifted their price objective on shares of Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. Rothschild & Co Redburn started coverage on shares of Ciena in a research note on Friday, May 1st. They issued a “neutral” rating and a $416.00 target price on the stock. Finally, B. Riley Financial raised their target price on shares of Ciena from $283.00 to $531.00 and gave the stock a “neutral” rating in a report on Tuesday, June 2nd. One analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $530.56.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $466.10, for a total value of $559,320.00. Following the completion of the transaction, the senior vice president owned 42,741 shares of the company’s stock, valued at $19,921,580.10. The trade was a 2.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Marc D. Graff sold 126 shares of the company’s stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $58,741.20. Following the sale, the chief financial officer owned 126,955 shares of the company’s stock, valued at approximately $59,186,421. This represents a 0.10% 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 three months, insiders have sold 22,827 shares of company stock worth $11,541,133. Insiders own 0.58% of the company’s stock.

More Ciena News

Here are the key news stories impacting Ciena this week:

• Positive Sentiment: Ciena’s Blue Planet AI proof of concept with Telefónica Deutschland is being highlighted as a potential catalyst for software growth and enterprise 5G network-slicing opportunities, reinforcing its role in AI-driven network automation. How AI-Driven 5G Network Slicing Positions Ciena for Long-Term Growth
• Positive Sentiment: Several recent articles continue to frame CIEN as an AI infrastructure beneficiary and a growth stock, suggesting investors still see upside tied to demand for networking gear and automation software. Ciena: Successfully Riding The AI-Powered Wave
• Positive Sentiment: Ciena was also included in lists of top-ranked July growth stocks, with AI demand cited as a supportive backdrop for the shares. 5 Top-Ranked Growth Stocks to Buy for July After a Mixed June
• Neutral Sentiment: Ciena named new supply chain and product technology chiefs, a leadership update that may help execution over time but is not an immediate earnings catalyst. Ciena (CIEN) Names New Supply Chain and Product Technology Chiefs
• Neutral Sentiment: CEO Gary B. Smith and CFO Marc Graff disclosed small share sales under pre-arranged 10b5-1 plans; the transactions are worth watching, but they do not necessarily point to a fundamental change in outlook. Ciena Insider Trades
• Negative Sentiment: Some recent commentary warns that after a strong year-to-date run, CIEN may be facing valuation concerns, which can weigh on the stock even when the business outlook remains constructive. Ciena (CIEN) Growth Index Entry Puts Its Valuation Back In Focus

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.