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

Ciena Co. (NYSE:CIEN) SVP Brodie Gage sold 350 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the sale, the senior vice president now owns 49,197 shares in the company, valued at approximately $4,435,601.52. This trade represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Wednesday, January 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $85.91, for a total value of $30,068.50.

Ciena Stock Down 0.9 %

Shares of NYSE CIEN traded down $0.75 during trading hours on Thursday, hitting $86.30. The stock had a trading volume of 1,309,920 shares, compared to its average volume of 2,408,699. The company has a market capitalization of $12.30 billion, a P/E ratio of 151.39, a P/E/G ratio of 1.60 and a beta of 0.88. The firm’s 50-day moving average price is $86.71 and its two-hundred day moving average price is $70.72. Ciena Co. has a 52 week low of $43.30 and a 52 week high of $101.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.

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

Institutional Investors Weigh In On Ciena

A number of large investors have recently added to or reduced their stakes in CIEN. Creative Planning boosted its position in Ciena by 65.0% during the third quarter. Creative Planning now owns 14,516 shares of the communications equipment provider’s stock worth $894,000 after purchasing an additional 5,717 shares during the period. Blue Trust Inc. lifted its holdings in shares of Ciena by 241.5% during the third quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider’s stock worth $88,000 after buying an additional 1,007 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Ciena by 399.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,378 shares of the communications equipment provider’s stock worth $146,000 after buying an additional 1,902 shares during the last quarter. Private Advisor Group LLC lifted its holdings in shares of Ciena by 5.4% during the third quarter. Private Advisor Group LLC now owns 6,169 shares of the communications equipment provider’s stock worth $380,000 after buying an additional 318 shares during the last quarter. Finally, Lecap Asset Management Ltd. acquired a new position in shares of Ciena during the third quarter worth approximately $664,000. Institutional investors own 91.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on CIEN shares. JPMorgan Chase & Co. upgraded Ciena from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $84.00 to $88.00 in a report on Tuesday, January 28th. Rosenblatt Securities boosted their price objective on Ciena from $75.00 to $94.00 and gave the stock a “neutral” rating in a report on Friday, December 13th. Barclays boosted their price objective on Ciena from $67.00 to $97.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Bank of America upgraded Ciena from a “neutral” rating to a “buy” rating and upped their target price for the company from $70.00 to $95.00 in a report on Friday, December 13th. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $82.00 target price (up previously from $75.00) on shares of Ciena in a report on Tuesday, December 10th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $78.77.

Ciena Company 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.