21,769 Shares in Ciena Co. (NYSE:CIEN) Acquired by Coyle Financial Counsel LLC

Coyle Financial Counsel LLC purchased a new position in shares of Ciena Co. (NYSE:CIEN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 21,769 shares of the communications equipment provider’s stock, valued at approximately $1,846,000. Ciena comprises about 0.6% of Coyle Financial Counsel LLC’s holdings, making the stock its 27th largest holding.

Several other large investors have also recently bought and sold shares of CIEN. Creative Planning increased its stake in Ciena by 65.0% in the third quarter. Creative Planning now owns 14,516 shares of the communications equipment provider’s stock valued at $894,000 after purchasing an additional 5,717 shares in the last quarter. Blue Trust Inc. increased its stake in Ciena by 241.5% in the third quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 1,007 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Ciena by 399.6% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,378 shares of the communications equipment provider’s stock valued at $146,000 after purchasing an additional 1,902 shares in the last quarter. Private Advisor Group LLC increased its stake in Ciena by 5.4% in the third quarter. Private Advisor Group LLC now owns 6,169 shares of the communications equipment provider’s stock valued at $380,000 after purchasing an additional 318 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC increased its stake in Ciena by 8.6% in the third quarter. NorthCrest Asset Manangement LLC now owns 11,999 shares of the communications equipment provider’s stock valued at $739,000 after purchasing an additional 950 shares in the last quarter. Institutional investors own 91.99% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on CIEN. Northland Securities upped their price target on shares of Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, December 13th. Barclays upped their price target on shares of Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Rosenblatt Securities upped their price target on shares of Ciena from $75.00 to $94.00 and gave the company a “neutral” rating in a report on Friday, December 13th. JPMorgan Chase & Co. upgraded shares of Ciena from a “neutral” rating to an “overweight” rating and upped their price target for the company from $84.00 to $88.00 in a report on Tuesday, January 28th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 price target (up previously from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $78.77.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction on Monday, December 16th. The shares were sold at an average price of $89.09, for a total transaction of $311,815.00. Following the completion of the sale, the senior vice president now owns 192,997 shares of the company’s stock, valued at approximately $17,194,102.73. This represents a 1.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 56,642 shares of company stock worth $4,818,176 over the last quarter. 0.93% of the stock is currently owned by insiders.

Ciena Stock Performance

Shares of CIEN opened at $80.38 on Tuesday. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The firm has a fifty day simple moving average of $86.42 and a 200 day simple moving average of $71.67. The stock has a market capitalization of $11.46 billion, a price-to-earnings ratio of 141.01, a PEG ratio of 1.54 and a beta of 0.88. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). The firm had revenue of $1.12 billion during the quarter, compared to analyst estimates of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. The business’s revenue was down .5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.56 EPS. Research analysts forecast that Ciena Co. will post 1.6 EPS for the current fiscal year.

Ciena Profile

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.