Ciena Co. (NYSE:CIEN) SVP Sells $1,131,013.44 in Stock

Ciena Co. (NYSE:CIEN) SVP Jason Phipps sold 18,888 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the transaction, the senior vice president now owns 89,258 shares of the company’s stock, valued at approximately $5,344,769.04. The trade was a 17.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Ciena Trading Up 5.7 %

NYSE CIEN opened at $65.03 on Thursday. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $77.11 and a 200 day simple moving average of $74.23. 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 $9.24 billion, a P/E ratio of 114.09, a PEG ratio of 1.54 and a beta of 0.91.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Needham & Company LLC dropped their target price on shares of Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a report on Wednesday, March 12th. Stifel Nicolaus reissued a “buy” rating and issued a $82.00 price objective (up from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Barclays set a $100.00 target price on Ciena and gave the stock an “overweight” rating in a research note on Wednesday, March 12th. Citigroup boosted their price target on Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 13th. Finally, Northland Securities raised shares of Ciena from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $60.00 to $75.00 in a research report on Wednesday, March 12th. Four 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 MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $81.38.

Hedge Funds Weigh In On Ciena

Several institutional investors have recently modified their holdings of CIEN. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Ciena by 108.6% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock worth $25,000 after acquiring an additional 151 shares during the period. Versant Capital Management Inc raised its stake in shares of Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after purchasing an additional 296 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ciena by 328.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 279 shares during the last quarter. Bessemer Group Inc. grew its position in Ciena by 73.7% during the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider’s stock valued at $30,000 after buying an additional 151 shares during the period. Finally, Atlas Capital Advisors Inc. increased its holdings in Ciena by 77.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 183 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

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.