Ciena Co. (CIEN) CEO Sells $344,157.84 in Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 12,948 shares of the stock in a transaction that occurred on Wednesday, March 21st. The stock was sold at an average price of $26.58, for a total transaction of $344,157.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Gary B. Smith also recently made the following trade(s):

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  • On Thursday, March 15th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $27.16, for a total transaction of $217,280.00.
  • On Thursday, February 22nd, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $23.23, for a total transaction of $185,840.00.
  • On Friday, February 9th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $22.46, for a total transaction of $179,680.00.
  • On Wednesday, January 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.85, for a total transaction of $174,800.00.
  • On Friday, January 12th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.86, for a total transaction of $174,880.00.
  • On Wednesday, December 27th, Gary B. Smith sold 4,000 shares of Ciena stock. The stock was sold at an average price of $21.66, for a total transaction of $86,640.00.
  • On Thursday, December 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The stock was sold at an average price of $21.47, for a total transaction of $171,760.00.

Ciena Co. (NYSE CIEN) opened at $25.50 on Monday. Ciena Co. has a 12 month low of $19.40 and a 12 month high of $27.98. The company has a quick ratio of 1.79, a current ratio of 2.06 and a debt-to-equity ratio of 0.33. The stock has a market cap of $3,680.15, a price-to-earnings ratio of 19.77, a P/E/G ratio of 1.53 and a beta of 1.51.

Ciena (NYSE:CIEN) last posted its earnings results on Tuesday, March 6th. The communications equipment provider reported $0.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.08. Ciena had a net margin of 27.76% and a return on equity of 14.10%. The business had revenue of $646.14 million for the quarter, compared to analyst estimates of $641.77 million. During the same period last year, the business posted $0.17 EPS. Ciena’s revenue was up 4.0% compared to the same quarter last year. equities analysts anticipate that Ciena Co. will post 1.08 earnings per share for the current fiscal year.

Ciena declared that its board has initiated a share repurchase plan on Thursday, December 7th that permits the company to repurchase $300.00 million in outstanding shares. This repurchase authorization permits the communications equipment provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

A number of large investors have recently bought and sold shares of the stock. Xact Kapitalforvaltning AB acquired a new position in Ciena in the 4th quarter valued at $278,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in Ciena in the 4th quarter valued at $871,000. MetLife Investment Advisors LLC acquired a new position in Ciena in the 4th quarter valued at $3,284,000. Gotham Asset Management LLC grew its stake in Ciena by 1,777.6% in the 4th quarter. Gotham Asset Management LLC now owns 719,652 shares of the communications equipment provider’s stock valued at $15,062,000 after buying an additional 681,324 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its stake in Ciena by 18.2% in the 4th quarter. Glenmede Trust Co. NA now owns 15,794 shares of the communications equipment provider’s stock valued at $330,000 after buying an additional 2,430 shares during the last quarter.

CIEN has been the subject of a number of research analyst reports. Bank of America upgraded shares of Ciena from a “neutral” rating to a “buy” rating and increased their target price for the stock from $20.98 to $28.00 in a research report on Monday, November 27th. B. Riley cut their target price on shares of Ciena from $30.50 to $28.00 and set a “buy” rating for the company in a research report on Tuesday, December 5th. Cowen reiterated a “buy” rating and issued a $33.00 target price on shares of Ciena in a research report on Wednesday, December 6th. Piper Jaffray Companies downgraded shares of Ciena from an “overweight” rating to a “neutral” rating and increased their target price for the stock from $20.76 to $22.00 in a research report on Friday, December 8th. Finally, Raymond James Financial set a $33.00 target price on shares of Ciena and gave the stock a “buy” rating in a research report on Thursday, December 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company. Ciena presently has a consensus rating of “Buy” and an average target price of $29.81.

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Ciena Company Profile

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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