Ciena Co. (NYSE:CIEN) Shares Purchased by Captrust Financial Advisors

Captrust Financial Advisors lifted its stake in shares of Ciena Co. (NYSE:CIEN - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,745 shares of the communications equipment provider's stock after acquiring an additional 4,794 shares during the period. Captrust Financial Advisors' holdings in Ciena were worth $1,081,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in CIEN. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Ciena by 108.6% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ciena by 328.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after buying an additional 279 shares during the last quarter. Bessemer Group Inc. lifted its stake in shares of 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. Atlas Capital Advisors Inc. boosted its position 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 acquiring an additional 183 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in Ciena during the fourth quarter worth approximately $41,000. Hedge funds and other institutional investors own 91.99% of the company's stock.

Ciena Trading Down 0.3%

Shares of Ciena stock traded down $0.23 during trading hours on Monday, hitting $81.01. The company's stock had a trading volume of 761,832 shares, compared to its average volume of 2,030,396. The business has a fifty day moving average of $65.40 and a 200 day moving average of $74.70. Ciena Co. has a 1-year low of $44.69 and a 1-year high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $11.52 billion, a PE ratio of 142.13, a P/E/G ratio of 1.54 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on CIEN. Citigroup reduced their price target on Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. B. Riley reiterated a "buy" rating and set a $89.00 target price (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Rosenblatt Securities dropped their price objective on shares of Ciena from $73.00 to $65.00 and set a "neutral" rating for the company in a research note on Tuesday, April 22nd. Finally, Barclays set a $100.00 price objective on shares of Ciena and gave the stock an "overweight" rating in a report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Ciena currently has a consensus rating of "Moderate Buy" and an average target price of $77.62.

Insider Buying and Selling

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total value of $31,556.00. Following the completion of the sale, the senior vice president now owns 49,197 shares of the company's stock, valued at $4,435,601.52. This trade represents a 0.71% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP David M. Rothenstein sold 2,500 shares of the business's stock in a transaction on Monday, March 24th. The stock was sold at an average price of $68.88, for a total transaction of $172,200.00. Following the transaction, the senior vice president now directly owns 207,370 shares in the company, valued at approximately $14,283,645.60. The trade was a 1.19% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 58,938 shares of company stock valued at $3,982,463. Company insiders own 0.93% of the company's stock.

Ciena 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.