Ciena Corporation (NYSE:CIEN – Get Free Report) SVP Brodie Gage sold 1,200 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $466.10, for a total value of $559,320.00. Following the completion of the transaction, the senior vice president directly owned 42,741 shares in the company, valued at $19,921,580.10. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Brodie Gage also recently made the following trade(s):
- On Friday, May 15th, Brodie Gage sold 1,200 shares of Ciena stock. The shares were sold at an average price of $570.65, for a total value of $684,780.00.
- On Wednesday, April 15th, Brodie Gage sold 1,200 shares of Ciena stock. The shares were sold at an average price of $471.79, for a total value 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 value of $2,025,000.00.
Ciena Trading Up 1.3%
NYSE CIEN opened at $435.91 on Thursday. The firm has a market cap of $61.70 billion, a P/E ratio of 145.30 and a beta of 1.24. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11. The stock’s 50-day moving average is $521.44 and its 200-day moving average is $370.05. Ciena Corporation has a one year low of $73.23 and a one year high of $637.51.
Wall Street Analysts Forecast Growth
CIEN has been the topic of a number of research analyst reports. Northland Securities set a $450.00 price target on Ciena in a research report on Friday, June 5th. Barclays raised their price target on Ciena from $372.00 to $607.00 and gave the stock an “overweight” rating in a research report on Friday, June 5th. Raymond James Financial raised their price target on Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a research report on Thursday, June 4th. Weiss Ratings raised Ciena from a “buy (b-)” rating to a “buy (b)” rating in a research report on Friday, June 5th. Finally, Zacks Research lowered Ciena from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 3rd. Thirteen analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and a consensus price target of $530.56.
Get Our Latest Stock Analysis on CIEN
Institutional Inflows and Outflows
Hedge funds have recently modified their holdings of the company. KBC Group NV grew its stake in Ciena by 11.3% in the fourth quarter. KBC Group NV now owns 31,161 shares of the communications equipment provider’s stock valued at $7,288,000 after purchasing an additional 3,156 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Ciena by 53.8% in the fourth quarter. Goldman Sachs Group Inc. now owns 445,359 shares of the communications equipment provider’s stock valued at $104,156,000 after purchasing an additional 155,712 shares in the last quarter. FengHe Fund Management Pte. Ltd. grew its stake in Ciena by 164.0% in the fourth quarter. FengHe Fund Management Pte. Ltd. now owns 660,988 shares of the communications equipment provider’s stock valued at $154,585,000 after purchasing an additional 410,588 shares in the last quarter. DNB Asset Management AS grew its stake in Ciena by 1,095.8% in the fourth quarter. DNB Asset Management AS now owns 27,527 shares of the communications equipment provider’s stock valued at $6,438,000 after purchasing an additional 25,225 shares in the last quarter. Finally, Peak Financial Advisors LLC grew its stake in Ciena by 222.7% in the fourth quarter. Peak Financial Advisors LLC now owns 11,596 shares of the communications equipment provider’s stock valued at $2,712,000 after purchasing an additional 8,003 shares in the last quarter. 91.99% of the stock is currently owned by institutional investors.
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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