Centiva Capital LP Invests $763,000 in Ciena Co. (NYSE:CIEN)

Centiva Capital LP acquired a new position in Ciena Co. (NYSE:CIEN - Free Report) during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,994 shares of the communications equipment provider's stock, valued at approximately $763,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Ciena by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider's stock valued at $1,299,004,000 after purchasing an additional 139,941 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC boosted its holdings in shares of Ciena by 0.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider's stock worth $444,143,000 after acquiring an additional 17,447 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in shares of Ciena by 195.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider's stock worth $392,345,000 after acquiring an additional 3,062,883 shares in the last quarter. Bank of America Corp DE boosted its holdings in shares of Ciena by 1.6% in the 4th quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider's stock worth $273,684,000 after acquiring an additional 49,996 shares in the last quarter. Finally, Geode Capital Management LLC boosted its holdings in shares of Ciena by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider's stock worth $205,301,000 after acquiring an additional 11,933 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Down 1.7%

Shares of CIEN stock traded down $1.33 on Wednesday, reaching $79.26. 899,607 shares of the company were exchanged, compared to its average volume of 2,386,440. The company has a market cap of $11.27 billion, a price-to-earnings ratio of 139.06, a PEG ratio of 1.54 and a beta of 1.11. The company has a 50-day moving average of $64.56 and a 200-day moving average of $74.31. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena Co. has a one year low of $44.69 and a one year high of $101.44.

Insider Transactions at Ciena

In other Ciena news, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction that occurred on 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 transaction, the senior vice president now owns 89,258 shares of the company's stock, valued at $5,344,769.04. This trade represents a 17.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the transaction, the senior vice president now directly owns 49,197 shares in the company, valued at approximately $4,435,601.52. This represents a 0.71% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 49,288 shares of company stock valued at $3,211,852 in the last 90 days. 0.93% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have recently commented on CIEN. Morgan Stanley reduced their target price on Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. JPMorgan Chase & Co. reduced their price target on shares of Ciena from $88.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. B. Riley reiterated a "buy" rating and set a $89.00 price target (down previously from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Citigroup reduced their price target on shares of Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Rosenblatt Securities reduced their price target on shares of Ciena from $73.00 to $65.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 22nd. Four investment 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. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $77.62.

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.