Ciena Co. (NYSE:CIEN) SVP Sells $199,825.00 in Stock

Ciena Co. (NYSE:CIEN) SVP David M. Rothenstein sold 2,500 shares of the company’s stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $79.93, for a total value of $199,825.00. Following the sale, the senior vice president now owns 202,370 shares in the company, valued at approximately $16,175,434.10. This represents a 1.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Ciena Stock Performance

Shares of NYSE CIEN opened at $81.22 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The stock’s fifty day moving average price is $65.40 and its two-hundred day moving average price is $74.70. Ciena Co. has a one year low of $44.69 and a one year high of $101.44. The firm has a market cap of $11.54 billion, a price-to-earnings ratio of 142.49, a P/E/G ratio of 1.54 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Citigroup dropped their price objective on Ciena from $98.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and upped their price objective for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. B. Riley reiterated a “buy” rating and set a $89.00 price objective (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Needham & Company LLC dropped their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Morgan Stanley dropped their price objective on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. 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 company. According to data from MarketBeat.com, Ciena has a consensus rating of “Moderate Buy” and a consensus target price of $77.62.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new position in Ciena in the 4th quarter valued at $245,000. US Bancorp DE grew its holdings in shares of Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock worth $887,000 after purchasing an additional 152 shares in the last quarter. Merit Financial Group LLC acquired a new stake in shares of Ciena during the 4th quarter worth $421,000. Oak Thistle LLC acquired a new stake in shares of Ciena during the 4th quarter worth $755,000. Finally, Park Avenue Securities LLC grew its holdings in shares of Ciena by 17.4% during the 4th quarter. Park Avenue Securities LLC now owns 38,350 shares of the communications equipment provider’s stock worth $3,252,000 after purchasing an additional 5,684 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Company Profile

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.