Rokos Capital Management LLP Trims Stock Position in Ciena Corporation $CIEN

Rokos Capital Management LLP cut its holdings in Ciena Corporation (NYSE:CIEN) by 68.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 66,460 shares of the communications equipment provider’s stock after selling 144,216 shares during the quarter. Rokos Capital Management LLP’s holdings in Ciena were worth $25,796,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of CIEN. Bogart Wealth LLC lifted its stake in Ciena by 635.7% in the 1st quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 89 shares in the last quarter. Transamerica Financial Advisors LLC raised its holdings in shares of Ciena by 71.0% in the fourth quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 44 shares during the last quarter. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Ciena by 85.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 141 shares of the communications equipment provider’s stock worth $55,000 after acquiring an additional 65 shares during the last quarter. Truvestments Capital LLC lifted 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 acquiring an additional 48 shares in the last quarter. Finally, Ascentis Independent Advisors purchased a new stake in shares of Ciena in the first quarter valued at $65,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Ciena Price Performance

CIEN stock opened at $376.25 on Tuesday. The stock has a market capitalization of $53.26 billion, a price-to-earnings ratio of 125.42 and a beta of 1.27. The company has a quick ratio of 2.11, a current ratio of 2.73 and a debt-to-equity ratio of 0.53. Ciena Corporation has a 52-week low of $84.41 and a 52-week high of $637.51. The stock’s fifty day simple moving average is $474.20 and its 200-day simple moving average is $411.40.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 EPS for the quarter, beating the consensus estimate of $1.46 by $0.18. Ciena had a return on equity of 18.15% and a net margin of 7.87%.The firm 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 posted $0.42 earnings per share. The business’s quarterly revenue was up 39.5% compared to the same quarter last year. Equities research analysts expect that Ciena Corporation will post 5.4 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CIEN. Barclays lifted their price objective on Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Argus set a $650.00 target price on shares of Ciena in a report on Friday, June 5th. B. Riley Financial raised their price target on shares of Ciena from $283.00 to $531.00 and gave the stock a “neutral” rating in a research note on Tuesday, June 2nd. Zacks Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. Finally, Weiss Ratings lowered shares of Ciena from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $530.56.

Insider Buying and Selling

In related news, SVP Brodie Gage sold 1,200 shares of the firm’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 sale, the senior vice president directly owned 42,741 shares of the company’s stock, valued at approximately $19,921,580.10. This trade represents a 2.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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 that occurred on Wednesday, July 1st. The stock was sold at an average price of $468.83, for a total transaction of $1,383,986.16. Following the completion of the sale, the chief executive officer directly owned 254,886 shares in the company, valued at $119,498,203.38. This represents a 1.14% 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 21,627 shares of company stock worth $10,974,985 over the last ninety days. Insiders own 0.58% of the company’s stock.

About Ciena

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.