1,399 Shares in Ciena Corporation $CIEN Bought by waypoint wealth counsel

waypoint wealth counsel bought a new position in Ciena Corporation (NYSE:CIEN) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,399 shares of the communications equipment provider’s stock, valued at approximately $327,000.

A number of other large investors also recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Ciena by 9.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 710 shares of the communications equipment provider’s stock worth $166,000 after purchasing an additional 63 shares in the last quarter. Assetmark Inc. lifted its position in Ciena by 50.4% in the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. Global Retirement Partners LLC lifted its position in Ciena by 11.1% in the 3rd quarter. Global Retirement Partners LLC now owns 698 shares of the communications equipment provider’s stock valued at $102,000 after acquiring an additional 70 shares in the last quarter. Coldstream Capital Management Inc. lifted its position in Ciena by 1.7% in the 3rd quarter. Coldstream Capital Management Inc. now owns 4,772 shares of the communications equipment provider’s stock valued at $695,000 after acquiring an additional 79 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in Ciena by 1.3% in the 3rd quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider’s stock valued at $943,000 after acquiring an additional 80 shares in the last quarter. 91.99% of the stock is currently owned by institutional investors.

Ciena Price Performance

Shares of NYSE CIEN opened at $516.03 on Friday. The company has a market capitalization of $72.97 billion, a PE ratio of 328.68, a PEG ratio of 1.64 and a beta of 1.01. Ciena Corporation has a twelve month low of $62.42 and a twelve month high of $527.86. The company has a quick ratio of 2.14, a current ratio of 2.81 and a debt-to-equity ratio of 0.55. The stock’s 50 day moving average price is $395.16 and its 200-day moving average price is $277.51.

Ciena (NYSE:CIEN) last released its earnings results on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.18. The company had revenue of $1.43 billion for the quarter, compared to analysts’ expectations of $1.40 billion. Ciena had a return on equity of 12.09% and a net margin of 4.47%.The business’s revenue for the quarter was up 33.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.64 EPS. On average, equities analysts anticipate that Ciena Corporation will post 5.1 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on CIEN shares. B. Riley Financial raised their price target on shares of Ciena from $222.00 to $283.00 and gave the company a “neutral” rating in a research report on Friday, March 6th. Morgan Stanley raised their price target on shares of Ciena from $286.00 to $405.00 and gave the company an “equal weight” rating in a research report on Monday. Needham & Company LLC raised their price objective on Ciena from $280.00 to $370.00 and gave the company a “buy” rating in a research note on Thursday, March 5th. Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 13th. Finally, Raymond James Financial restated an “outperform” rating and set a $320.00 price objective on shares of Ciena in a research note on Thursday, March 5th. One investment analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Ciena presently has a consensus rating of “Moderate Buy” and an average price target of $355.59.

Insider Transactions at Ciena

In related news, SVP Jason Phipps sold 22,014 shares of Ciena stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $409.80, for a total value of $9,021,337.20. Following the sale, the senior vice president owned 68 shares of the company’s stock, valued at approximately $27,866.40. The trade was a 99.69% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Brodie Gage sold 1,200 shares of Ciena stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $471.79, for a total transaction of $566,148.00. Following the completion of the sale, the senior vice president directly owned 45,141 shares in the company, valued at $21,297,072.39. This trade represents a 2.59% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 42,974 shares of company stock worth $16,615,505 in the last ninety days. Company insiders own 0.58% of the company’s stock.

Ciena Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.