Ciena Corporation $CIEN Shares Sold by Kestra Advisory Services LLC

Kestra Advisory Services LLC decreased its position in shares of Ciena Corporation (NYSE:CIEN) by 25.1% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 11,271 shares of the communications equipment provider’s stock after selling 3,771 shares during the quarter. Kestra Advisory Services LLC’s holdings in Ciena were worth $4,376,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of CIEN. Transamerica Financial Advisors LLC raised its holdings in Ciena by 71.0% in the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after acquiring an additional 44 shares during the last quarter. Hilltop National Bank acquired a new stake in shares of Ciena during the fourth quarter worth $35,000. Truvestments Capital LLC grew its position in shares of Ciena by 45.3% in the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 48 shares during the period. Bogart Wealth LLC grew its position in shares of Ciena by 635.7% in the first quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock valued at $40,000 after purchasing an additional 89 shares during the period. Finally, Acumen Wealth Advisors LLC acquired a new position in Ciena in the fourth quarter valued at $40,000. Institutional investors and hedge funds own 91.99% of the company’s stock.

Insider Transactions at Ciena

In other news, CFO Marc D. Graff sold 126 shares of the company’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $58,741.20. Following the completion of the sale, the chief financial officer owned 126,955 shares of the company’s stock, valued at $59,186,421. This represents a 0.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at 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 firm’s stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $468.83, for a total value of $1,383,986.16. Following the sale, the chief executive officer owned 254,886 shares in the company, valued at approximately $119,498,203.38. The trade was a 1.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 21,627 shares of company stock worth $10,974,985 in the last quarter. 0.58% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently weighed in on CIEN. Needham & Company LLC reiterated a “buy” rating and set a $600.00 target price on shares of Ciena in a research report on Tuesday, June 23rd. Bank of America lifted their price target on Ciena from $550.00 to $660.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings downgraded shares of Ciena from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 7th. Argus set a $650.00 price objective on shares of Ciena in a report on Friday, June 5th. Finally, Northland Securities set a $450.00 target price on shares of Ciena in a research report on Friday, June 5th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $530.56.

Ciena Trading Down 7.0%

NYSE CIEN opened at $389.17 on Friday. The firm has a market capitalization of $55.09 billion, a price-to-earnings ratio of 129.72 and a beta of 1.27. The company has a debt-to-equity ratio of 0.53, a quick ratio of 2.11 and a current ratio of 2.73. Ciena Corporation has a one year low of $83.20 and a one year high of $637.51. The company’s 50 day moving average price is $498.61 and its 200 day moving average price is $403.96.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $1.50 billion. During the same period in the previous year, the firm earned $0.42 earnings per share. Ciena’s revenue for the quarter was up 39.5% on a year-over-year basis. On average, sell-side analysts predict that Ciena Corporation will post 5.4 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.