Ciena Corporation (NYSE:CIEN – Get Free Report) SVP Brodie Gage sold 1,200 shares of the firm’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $570.65, for a total transaction of $684,780.00. Following the transaction, the senior vice president owned 43,941 shares of the company’s stock, valued at approximately $25,074,931.65. This represents a 2.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brodie Gage also recently made the following trade(s):
- On Wednesday, April 15th, Brodie Gage sold 1,200 shares of Ciena stock. The stock was sold at an average price of $471.79, for a total transaction of $566,148.00.
- On Tuesday, March 24th, Brodie Gage sold 5,000 shares of Ciena stock. The stock was sold at an average price of $405.00, for a total transaction of $2,025,000.00.
Ciena Stock Up 3.2%
Shares of CIEN opened at $541.52 on Wednesday. The stock has a market cap of $76.57 billion, a price-to-earnings ratio of 344.92, a P/E/G ratio of 1.72 and a beta of 1.24. The company has a quick ratio of 2.14, a current ratio of 2.81 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 12 month low of $70.77 and a 12 month high of $598.84. The company has a 50-day moving average price of $463.70 and a two-hundred day moving average price of $320.95.
Analyst Upgrades and Downgrades
CIEN has been the subject of a number of analyst reports. Citigroup raised their price target on shares of Ciena from $345.00 to $658.00 and gave the stock a “buy” rating in a research note on Monday. UBS Group lifted their target price on shares of Ciena from $230.00 to $285.00 and gave the company a “neutral” rating in a research note on Friday, March 6th. Wolfe Research reiterated an “outperform” rating and issued a $375.00 target price on shares of Ciena in a research note on Thursday, March 5th. Morgan Stanley lifted their target price on shares of Ciena from $286.00 to $405.00 and gave the company an “equal weight” rating in a research note on Monday, April 20th. Finally, Zacks Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating in a research note on Friday, March 13th. One investment analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $398.83.
Read Our Latest Research Report on CIEN
Institutional Trading of Ciena
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Western Wealth Management LLC acquired a new stake in shares of Ciena in the first quarter valued at approximately $49,000. Bull Harbor Capital LLC acquired a new stake in shares of Ciena in the first quarter valued at approximately $1,507,000. Regal Partners Ltd acquired a new stake in shares of Ciena in the first quarter valued at approximately $1,165,000. Empowered Funds LLC increased its holdings in shares of Ciena by 26.6% in the first quarter. Empowered Funds LLC now owns 20,663 shares of the communications equipment provider’s stock valued at $8,022,000 after purchasing an additional 4,338 shares in the last quarter. Finally, Quantinno Capital Management LP increased its holdings in shares of Ciena by 3.4% in the first quarter. Quantinno Capital Management LP now owns 103,914 shares of the communications equipment provider’s stock valued at $40,343,000 after purchasing an additional 3,429 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.
Ciena Company 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.
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