Ciena Corporation (NYSE:CIEN) SVP Sells $28,899.50 in Stock

Ciena Corporation (NYSE:CIEN - Get Free Report) SVP Brodie Gage sold 350 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $82.57, for a total transaction of $28,899.50. Following the completion of the sale, the senior vice president owned 43,618 shares of the company's stock, valued at $3,601,538.26. This trade represents a 0.80% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

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

• On Tuesday, July 15th, Brodie Gage sold 350 shares of Ciena stock. The shares were sold at an average price of $82.57, for a total transaction of $28,899.50.
• On Monday, June 16th, Brodie Gage sold 350 shares of Ciena stock. The shares were sold at an average price of $72.60, for a total transaction of $25,410.00.
• On Thursday, May 15th, Brodie Gage sold 350 shares of Ciena stock. The shares were sold at an average price of $78.67, for a total transaction of $27,534.50.

Ciena Stock Performance

CIEN stock traded down $0.21 during midday trading on Friday, hitting $84.60. 251,625 shares of the stock traded hands, compared to its average volume of 2,151,660. The firm has a market cap of $11.96 billion, a P/E ratio of 117.67, a PEG ratio of 1.88 and a beta of 1.11. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.40 and a quick ratio of 2.57. The stock's fifty day simple moving average is $78.81 and its 200-day simple moving average is $75.83. Ciena Corporation has a 1-year low of $44.89 and a 1-year high of $101.44.

Ciena (NYSE:CIEN - Get Free Report) last released its quarterly earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 EPS for the quarter, missing the consensus estimate of $0.50 by ($0.08). The firm had revenue of $1.13 billion for the quarter, compared to analyst estimates of $1.09 billion. Ciena had a net margin of 2.46% and a return on equity of 5.08%. The firm's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.27 EPS. On average, analysts expect that Ciena Corporation will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CIEN has been the topic of several research reports. Wall Street Zen upgraded shares of Ciena from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. Rosenblatt Securities lifted their price target on shares of Ciena from $65.00 to $85.00 and gave the stock a "neutral" rating in a research note on Tuesday, June 3rd. Morgan Stanley reiterated an "underweight" rating and set a $70.00 price target (down previously from $73.00) on shares of Ciena in a research note on Tuesday, July 8th. B. Riley reiterated a "buy" rating and set a $90.00 price target (up previously from $89.00) on shares of Ciena in a research note on Friday, June 6th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Ciena from $83.00 to $105.00 and gave the stock an "overweight" rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, nine have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $85.54.

Hedge Funds Weigh In On Ciena

A number of institutional investors have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Ciena by 108.6% during the 4th 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 in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock worth $30,000 after acquiring an additional 279 shares in the last quarter. Bessemer Group Inc. lifted its position in shares of Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after buying an additional 151 shares during the last quarter. Atlas Capital Advisors Inc. lifted its position in shares of Ciena by 77.2% during the 4th 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. Finally, Bayforest Capital Ltd lifted its position in shares of Ciena by 34.7% during the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider's stock worth $38,000 after buying an additional 164 shares during the last quarter. 91.99% of the stock is owned by hedge funds and other institutional investors.

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.