Ciena Co. (NYSE:CIEN - Get Free Report) SVP David M. Rothenstein sold 2,500 shares of the firm's stock in a transaction dated Monday, March 24th. The shares were sold at an average price of $68.88, for a total transaction of $172,200.00. Following the transaction, the senior vice president now directly owns 207,370 shares in the company, valued at $14,283,645.60. This trade represents a 1.19 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Ciena Trading Down 5.2 %
CIEN stock opened at $65.81 on Thursday. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. Ciena Co. has a 52-week low of $43.30 and a 52-week high of $101.44. The company's 50-day simple moving average is $79.64 and its 200-day simple moving average is $73.93. The firm has a market cap of $9.35 billion, a P/E ratio of 115.46, a PEG ratio of 1.54 and a beta of 0.91.
Institutional Investors Weigh In On Ciena
Large investors have recently bought and sold shares of the company. FMR LLC lifted its holdings in Ciena by 0.5% in the 3rd quarter. FMR LLC now owns 21,664,066 shares of the communications equipment provider's stock valued at $1,334,290,000 after purchasing an additional 108,407 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Ciena by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider's stock worth $1,299,004,000 after acquiring an additional 139,941 shares during the period. Barrow Hanley Mewhinney & Strauss LLC boosted its position in shares of Ciena by 0.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider's stock valued at $444,143,000 after acquiring an additional 17,447 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Ciena by 195.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider's stock valued at $392,345,000 after purchasing an additional 3,062,883 shares during the period. Finally, State Street Corp increased its position in Ciena by 1.2% during the third quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider's stock worth $273,427,000 after purchasing an additional 53,078 shares during the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages recently commented on CIEN. JPMorgan Chase & Co. raised shares of Ciena from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $84.00 to $88.00 in a research note on Tuesday, January 28th. Rosenblatt Securities reduced their price target on Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research report on Friday, March 7th. Needham & Company LLC lowered their price objective on Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Finally, Bank of America upgraded Ciena from a "neutral" rating to a "buy" rating and increased their price target for the company from $70.00 to $95.00 in a research note on Friday, December 13th. Four research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $81.38.
Get Our Latest Analysis on CIEN
Ciena Company Profile
(
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Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company's Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.
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