Ciena Co. (NYSE:CIEN - Get Free Report) SVP Brodie Gage sold 350 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $58.51, for a total value of $20,478.50. Following the transaction, the senior vice president now directly owns 46,583 shares of the company's stock, valued at approximately $2,725,571.33. This trade represents a 0.75 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Brodie Gage also recently made the following trade(s):
- On Tuesday, February 18th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $90.16, for a total value of $31,556.00.
Ciena Trading Up 2.3 %
Shares of NYSE:CIEN opened at $60.22 on Friday. The stock's 50-day simple moving average is $69.28 and its two-hundred day simple moving average is $73.86. The stock has a market capitalization of $8.56 billion, a price-to-earnings ratio of 105.65, a PEG ratio of 1.54 and a beta of 1.15. Ciena Co. has a 52-week low of $43.30 and a 52-week high of $101.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.
Hedge Funds Weigh In On Ciena
A number of institutional investors and hedge funds have recently made changes to their positions in CIEN. Vanguard Group Inc. raised its position in Ciena by 0.9% in the fourth 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 grew 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 period. Price T Rowe Associates Inc. MD increased its stake in shares of Ciena by 195.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider's stock worth $392,345,000 after purchasing an additional 3,062,883 shares in the last quarter. Bank of America Corp DE raised its holdings in Ciena by 1.6% in the 4th quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider's stock worth $273,684,000 after purchasing an additional 49,996 shares during the period. Finally, Geode Capital Management LLC lifted its position in Ciena by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider's stock valued at $205,301,000 after purchasing an additional 11,933 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company's stock.
Wall Street Analysts Forecast Growth
A number of brokerages recently issued reports on CIEN. Barclays set a $100.00 price target on shares of Ciena and gave the stock an "overweight" rating in a research note on Wednesday, March 12th. Morgan Stanley dropped their target price on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Citigroup reduced their price target on shares of Ciena from $98.00 to $75.00 and set a "buy" rating for the company in a research report on Monday. Rosenblatt Securities cut their target price on Ciena from $94.00 to $79.00 and set a "neutral" rating on the stock in a research note on Friday, March 7th. Finally, Northland Securities raised Ciena from a "market perform" rating to an "outperform" rating and upped their price target for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $78.69.
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About Ciena
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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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