Ciena Co. (NYSE:CIEN) SVP Sells 350 Shares of Stock

Ciena Co. (NYSE:CIEN) SVP Brodie Gage sold 350 shares of the stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $58.51, for a total transaction of $20,478.50. Following the sale, the senior vice president now owns 46,583 shares of the company’s stock, valued at approximately $2,725,571.33. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Brodie Gage also recently made the following trade(s):

• On Tuesday, February 18th, Brodie Gage sold 350 shares of Ciena stock. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00.

Ciena Stock Up 2.3 %

Shares of NYSE CIEN opened at $60.22 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena Co. has a 1 year low of $43.30 and a 1 year high of $101.44. The stock has a market capitalization of $8.56 billion, a P/E ratio of 105.65, a P/E/G ratio of 1.54 and a beta of 1.15. The company has a 50-day moving average price of $68.73 and a 200-day moving average price of $73.85.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on CIEN shares. Needham & Company LLC dropped their price objective on Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Northland Capmk raised Ciena from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, March 12th. Barclays set a $100.00 price target on Ciena and gave the stock an “overweight” rating in a report on Wednesday, March 12th. Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, Morgan Stanley cut their target price on shares of Ciena from $80.00 to $76.00 and set an “equal weight” rating on the stock in a research note on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.69.

Hedge Funds Weigh In On Ciena

A number of hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its stake in shares of Ciena by 195.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider’s stock worth $392,345,000 after purchasing an additional 3,062,883 shares during the last quarter. Polar Capital Holdings Plc grew its holdings in Ciena by 113.7% during the fourth quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider’s stock worth $183,987,000 after buying an additional 1,154,260 shares in the last quarter. Marshall Wace LLP raised its position in Ciena by 4,215.9% in the 4th quarter. Marshall Wace LLP now owns 899,828 shares of the communications equipment provider’s stock valued at $76,314,000 after buying an additional 878,979 shares during the last quarter. Stephens Investment Management Group LLC purchased a new stake in Ciena in the 4th quarter valued at $56,997,000. Finally, Janus Henderson Group PLC lifted its stake in Ciena by 971.7% during the 4th quarter. Janus Henderson Group PLC now owns 729,722 shares of the communications equipment provider’s stock valued at $61,891,000 after acquiring an additional 661,630 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company’s stock.

About Ciena

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.