Baader Bank Aktiengesellschaft Acquires Shares of 11,738 Ciena Corporation $CIEN

Baader Bank Aktiengesellschaft acquired a new stake in shares of Ciena Corporation (NYSE:CIEN) in the 4th quarter, Holdings Channel.com reports. The fund acquired 11,738 shares of the communications equipment provider’s stock, valued at approximately $2,745,000.

Other large investors have also recently modified their holdings of the company. Community Bank N.A. purchased a new position in Ciena in the 3rd quarter worth about $25,000. Assetmark Inc. grew its stake in shares of Ciena by 50.4% during the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after acquiring an additional 67 shares during the period. Ameritas Advisory Services LLC grew its stake in shares of Ciena by 104.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 104 shares during the period. Hilltop National Bank bought a new position in Ciena in the 4th quarter worth approximately $35,000. Finally, Quent Capital LLC bought a new position in Ciena in the 3rd quarter worth approximately $39,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

CIEN has been the subject of several recent analyst reports. Barclays upped their price target on Ciena from $279.00 to $372.00 and gave the stock an “overweight” rating in a research note on Friday, March 6th. Stifel Nicolaus increased their price target on Ciena from $430.00 to $585.00 and gave the company a “buy” rating in a report on Tuesday, May 5th. Rothschild & Co Redburn began coverage on Ciena in a research report on Friday, May 1st. They issued a “neutral” rating and a $416.00 price objective on the stock. JPMorgan Chase & Co. upped their price objective on Ciena from $380.00 to $550.00 and gave the company an “overweight” rating in a research report on Thursday, April 16th. Finally, Rosenblatt Securities increased their price target on Ciena from $305.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, March 6th. One equities research 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 company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $367.56.

Insider Transactions at Ciena

In related news, SVP Jason Phipps sold 22,014 shares of Ciena stock in a transaction that occurred on 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 in the company, valued at approximately $27,866.40. This trade represents a 99.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, 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 that occurred on Wednesday, April 15th. The stock was sold at an average price of $471.79, for a total value of $566,148.00. Following the transaction, the senior vice president owned 45,141 shares in the company, valued at approximately $21,297,072.39. The trade was a 2.59% decrease in their position. 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 have sold 42,974 shares of company stock valued at $17,418,863 over the last ninety days. Insiders own 0.58% of the company’s stock.

Ciena Stock Up 0.2%

Shares of CIEN stock opened at $578.44 on Thursday. The stock has a 50 day moving average of $444.88 and a 200 day moving average of $310.56. The company has a current ratio of 2.81, a quick ratio of 2.14 and a debt-to-equity ratio of 0.55. The stock has a market cap of $81.79 billion, a P/E ratio of 368.44, a P/E/G ratio of 1.89 and a beta of 1.24. Ciena Corporation has a twelve month low of $70.77 and a twelve month high of $598.84.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.17 by $0.18. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The company had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. During the same period last year, the company earned $0.64 earnings per share. Ciena’s quarterly revenue was up 33.1% compared to the same quarter last year. As a group, sell-side analysts expect that Ciena Corporation will post 5.12 EPS for the current year.

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.