Ciena Co. (CIEN) CEO Sells $196,720.00 in Stock

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 12th. The shares were sold at an average price of $24.59, for a total value of $196,720.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Thursday, May 24th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $24.61, for a total value of $196,880.00.
  • On Wednesday, May 9th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $26.76, for a total value of $214,080.00.
  • On Friday, April 27th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $25.82, for a total value of $206,560.00.
  • On Wednesday, April 11th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $25.73, for a total value of $205,840.00.
  • On Wednesday, March 28th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $25.79, for a total value of $206,320.00.
  • On Wednesday, March 21st, Gary B. Smith sold 12,948 shares of Ciena stock. The shares were sold at an average price of $26.58, for a total value of $344,157.84.
  • On Thursday, March 15th, Gary B. Smith sold 8,000 shares of Ciena stock. The shares were sold at an average price of $27.16, for a total value of $217,280.00.

Shares of Ciena traded up $0.13, reaching $24.95, on Thursday, Marketbeat reports. The company had a trading volume of 1,783,989 shares, compared to its average volume of 3,313,481. Ciena Co. has a 52-week low of $19.40 and a 52-week high of $27.73. The company has a market capitalization of $3.50 billion, a PE ratio of 16.74, a P/E/G ratio of 1.60 and a beta of 1.34. The company has a current ratio of 2.01, a quick ratio of 1.77 and a debt-to-equity ratio of 0.34.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, May 31st. The communications equipment provider reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.07). Ciena had a net margin of 26.69% and a return on equity of 9.92%. The company had revenue of $730.00 million during the quarter, compared to analysts’ expectations of $726.38 million. During the same quarter in the prior year, the business posted $0.45 earnings per share. The company’s revenue was up 3.3% compared to the same quarter last year. research analysts predict that Ciena Co. will post 0.99 EPS for the current year.

Several large investors have recently made changes to their positions in CIEN. Bristol John W & Co. Inc. NY purchased a new position in shares of Ciena in the 1st quarter valued at $137,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Ciena by 47.3% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,488 shares of the communications equipment provider’s stock valued at $157,000 after acquiring an additional 2,403 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of Ciena in the 1st quarter valued at $210,000. Stone Ridge Asset Management LLC purchased a new position in shares of Ciena in the 4th quarter valued at $225,000. Finally, Corient Capital Partners LLC purchased a new position in shares of Ciena in the 4th quarter valued at $230,000.

Several brokerages have recently weighed in on CIEN. MKM Partners increased their price target on Ciena to $32.00 and gave the stock a “buy” rating in a report on Wednesday, March 7th. Zacks Investment Research upgraded Ciena from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a report on Tuesday, June 5th. JPMorgan Chase & Co. set a $36.00 price target on Ciena and gave the stock a “buy” rating in a report on Tuesday, May 29th. Northland Securities reiterated a “buy” rating and issued a $34.00 price target on shares of Ciena in a report on Monday, March 19th. Finally, Rosenblatt Securities reduced their price target on Ciena from $32.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, April 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nineteen have given a buy rating to the stock. Ciena has an average rating of “Buy” and a consensus target price of $29.43.

Ciena Company Profile

Ciena Corporation provides hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of voice, video, and data traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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

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