Aristotle Capital Boston LLC Sells 7,730 Shares of Ciena Co. (NYSE:CIEN)

Aristotle Capital Boston LLC trimmed its position in Ciena Co. (NYSE:CIEN - Free Report) by 7.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 102,492 shares of the communications equipment provider's stock after selling 7,730 shares during the quarter. Aristotle Capital Boston LLC owned approximately 0.07% of Ciena worth $8,692,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ritholtz Wealth Management bought a new stake in shares of Ciena during the 4th quarter valued at about $245,000. US Bancorp DE raised its position in shares of Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock worth $887,000 after purchasing an additional 152 shares during the period. Merit Financial Group LLC bought a new stake in shares of Ciena in the 4th quarter worth approximately $421,000. Oak Thistle LLC bought a new position in Ciena during the 4th quarter worth $755,000. Finally, Park Avenue Securities LLC lifted its position in Ciena by 17.4% in the 4th quarter. Park Avenue Securities LLC now owns 38,350 shares of the communications equipment provider's stock valued at $3,252,000 after purchasing an additional 5,684 shares during the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Performance

Shares of NYSE CIEN traded up $0.76 during trading hours on Wednesday, reaching $73.42. The stock had a trading volume of 1,710,880 shares, compared to its average volume of 2,021,543. The business's fifty day moving average is $64.34 and its two-hundred day moving average is $73.94. The company has a market cap of $10.44 billion, a price-to-earnings ratio of 128.81, a PEG ratio of 1.54 and a beta of 1.11. Ciena Co. has a twelve month low of $44.69 and a twelve month high of $101.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

Analyst Ratings Changes

A number of research analysts recently issued reports on CIEN shares. Northland Capmk raised Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Barclays set a $100.00 price objective on Ciena and gave the stock an "overweight" rating in a research report on Wednesday, March 12th. Morgan Stanley dropped their price target 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. Northland Securities upgraded shares of Ciena from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Ciena from $88.00 to $76.00 and set an "overweight" rating for the company in a research note on Thursday, April 17th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $77.62.

Insider Buying and Selling at Ciena

In related news, SVP Jason Phipps sold 18,888 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the completion of the sale, the senior vice president now owns 89,258 shares in the company, valued at $5,344,769.04. This trade represents a 17.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Brodie Gage sold 350 shares of the business's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the transaction, 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 disclosure for this sale can be found here. Over the last ninety days, insiders have sold 49,288 shares of company stock valued at $3,211,852. 0.93% of the stock is currently owned by corporate insiders.

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.