Brodie Gage Sells 111 Shares of Ciena (NYSE:CIEN) Stock

Ciena Corporation (NYSE:CIEN) SVP Brodie Gage sold 111 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $190.80, for a total value of $21,178.80. Following the completion of the sale, the senior vice president owned 40,542 shares in the company, valued at $7,735,413.60. This represents a 0.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Brodie Gage also recently made the following trade(s):

• On Wednesday, October 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $169.36, for a total value of $59,276.00.
• On Monday, September 15th, Brodie Gage sold 350 shares of Ciena stock. The shares were sold at an average price of $132.00, for a total value of $46,200.00.

Ciena Trading Up 1.0%

CIEN stock opened at $188.83 on Thursday. Ciena Corporation has a one year low of $49.21 and a one year high of $214.17. The stock has a market cap of $26.64 billion, a price-to-earnings ratio of 194.67, a price-to-earnings-growth ratio of 2.62 and a beta of 1.17. The company has a fifty day moving average price of $167.16 and a two-hundred day moving average price of $113.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.28 and a quick ratio of 2.52.

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

Analyst Ratings Changes

CIEN has been the subject of a number of research analyst reports. BNP Paribas Exane upgraded Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 price objective for the company in a report on Monday, October 13th. JPMorgan Chase & Co. lifted their price target on Ciena from $105.00 to $140.00 and gave the stock an “overweight” rating in a report on Friday, September 5th. UBS Group upped their price objective on Ciena from $78.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Evercore ISI increased their price objective on Ciena from $120.00 to $200.00 and gave the stock an “in-line” rating in a research report on Monday, November 10th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Ciena in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $153.20.

Hedge Funds Weigh In On Ciena

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Allianz Asset Management GmbH grew its holdings in shares of Ciena by 44.7% during the 1st quarter. Allianz Asset Management GmbH now owns 103,437 shares of the communications equipment provider’s stock worth $6,251,000 after purchasing an additional 31,947 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new stake in Ciena during the first quarter worth about $4,305,000. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in Ciena in the 1st quarter valued at about $1,137,000. Bank Julius Baer & Co. Ltd Zurich acquired a new position in shares of Ciena in the 1st quarter valued at approximately $6,924,000. Finally, Oak Thistle LLC lifted its holdings in shares of Ciena by 57.4% during the 1st quarter. Oak Thistle LLC now owns 14,012 shares of the communications equipment provider’s stock worth $847,000 after acquiring an additional 5,112 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

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.