Forum Financial Management LP Purchases 201 Shares of Ciena Corporation $CIEN

Forum Financial Management LP boosted its position in Ciena Corporation (NYSE:CIEN) by 5.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,885 shares of the communications equipment provider’s stock after purchasing an additional 201 shares during the quarter. Forum Financial Management LP’s holdings in Ciena were worth $316,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in CIEN. Bessemer Group Inc. increased its holdings in shares of Ciena by 50.0% during the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider’s stock valued at $32,000 after acquiring an additional 178 shares in the last quarter. Bayforest Capital Ltd increased its holdings in shares of Ciena by 34.7% during the first quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider’s stock valued at $38,000 after acquiring an additional 164 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of Ciena by 15.4% during the first quarter. National Bank of Canada FI now owns 1,147 shares of the communications equipment provider’s stock valued at $69,000 after acquiring an additional 153 shares in the last quarter. Quarry LP increased its holdings in shares of Ciena by 65.6% during the first quarter. Quarry LP now owns 1,593 shares of the communications equipment provider’s stock valued at $96,000 after acquiring an additional 631 shares in the last quarter. Finally, UMB Bank n.a. increased its holdings in shares of Ciena by 27.3% during the second quarter. UMB Bank n.a. now owns 1,556 shares of the communications equipment provider’s stock valued at $127,000 after acquiring an additional 334 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Insider Transactions at Ciena

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $92.93, for a total value of $631,924.00. Following the transaction, the chief executive officer directly owned 305,157 shares of the company’s stock, valued at approximately $28,358,240.01. This trade represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Joseph Cumello sold 1,863 shares of the firm’s stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $141.14, for a total value of $262,943.82. Following the completion of the transaction, the senior vice president directly owned 43,531 shares in the company, valued at $6,143,965.34. The trade was a 4.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 45,374 shares of company stock valued at $5,936,444. Company insiders own 0.93% of the company’s stock.

Ciena Trading Up 4.0%

Shares of NYSE:CIEN opened at $179.53 on Monday. The stock has a market capitalization of $25.32 billion, a price-to-earnings ratio of 185.08, a PEG ratio of 2.48 and a beta of 1.15. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 3.28. The stock’s 50-day simple moving average is $133.51 and its two-hundred day simple moving average is $97.56. Ciena Corporation has a 52-week low of $49.21 and a 52-week high of $181.05.

Ciena (NYSE:CIEN) last announced its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share (EPS) for the quarter. The business had revenue of $844.44 million for the quarter. Ciena had a return on equity of 6.62% and a net margin of 3.10%. Analysts expect that Ciena Corporation will post 1.6 EPS for the current year.

Analyst Upgrades and Downgrades

CIEN has been the subject of several analyst reports. Rosenblatt Securities upgraded Ciena from a “neutral” rating to a “buy” rating and raised their price target for the company from $127.50 to $175.00 in a report on Friday, September 26th. UBS Group raised their price target on Ciena from $78.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a report on Friday. Bank of America raised their price target on Ciena from $135.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a report on Tuesday, September 9th. Three investment analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $137.53.

About Ciena

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.