Ciena Co. (NYSE:CIEN) Shares Bought by Swiss National Bank

Swiss National Bank raised its stake in Ciena Co. (NYSE:CIEN) by 1.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 284,000 shares of the communications equipment provider’s stock after purchasing an additional 3,500 shares during the quarter. Swiss National Bank owned 0.20% of Ciena worth $24,086,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of CIEN. Connor Clark & Lunn Investment Management Ltd. purchased a new position in Ciena in the 4th quarter valued at $6,500,000. Farther Finance Advisors LLC boosted its holdings in shares of Ciena by 51.6% in the fourth quarter. Farther Finance Advisors LLC now owns 1,267 shares of the communications equipment provider’s stock valued at $107,000 after acquiring an additional 431 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Ciena by 3.5% during the fourth quarter. EverSource Wealth Advisors LLC now owns 18,471 shares of the communications equipment provider’s stock worth $1,567,000 after acquiring an additional 627 shares during the period. Wealthfront Advisers LLC purchased a new position in Ciena during the fourth quarter worth about $746,000. Finally, Daiwa Securities Group Inc. acquired a new stake in Ciena in the fourth quarter valued at about $68,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling at Ciena

In related news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the transaction, the senior vice president now owns 49,197 shares of the company’s stock, valued at approximately $4,435,601.52. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Dino Diperna sold 2,682 shares of the business’s stock in a transaction on Thursday, December 26th. The shares were sold at an average price of $87.64, for a total value of $235,050.48. Following the completion of the transaction, the senior vice president now owns 50,607 shares of the company’s stock, valued at $4,435,197.48. This trade represents a 5.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,942 shares of company stock worth $5,025,949. 0.93% of the stock is owned by insiders.

Ciena Stock Up 2.9 %

CIEN stock opened at $65.70 on Tuesday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The company’s 50 day simple moving average is $81.92 and its 200-day simple moving average is $73.48. Ciena Co. has a 12 month low of $43.30 and a 12 month high of $101.44. The firm has a market capitalization of $9.34 billion, a PE ratio of 115.27, a P/E/G ratio of 1.54 and a beta of 0.91.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on CIEN shares. Northland Capmk upgraded Ciena from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, March 12th. Morgan Stanley dropped their price objective on Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 12th. Rosenblatt Securities reduced their target price on Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a report on Friday, March 7th. B. Riley reaffirmed a “buy” rating and set a $89.00 price target (down from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Finally, Bank of America upgraded shares of Ciena from a “neutral” rating to a “buy” rating and raised their price objective for the company from $70.00 to $95.00 in a research note on Friday, December 13th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

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.