Ciena Co. (NYSE:CIEN) Stock Position Decreased by AQR Capital Management LLC

AQR Capital Management LLC reduced its position in Ciena Co. (NYSE:CIEN - Free Report) by 26.1% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 595,180 shares of the communications equipment provider's stock after selling 209,783 shares during the period. AQR Capital Management LLC owned about 0.42% of Ciena worth $50,477,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD raised its stake in 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 valued at $392,345,000 after purchasing an additional 3,062,883 shares during the last quarter. Marshall Wace LLP boosted its holdings in shares of Ciena by 4,215.9% during the fourth quarter. Marshall Wace LLP now owns 899,828 shares of the communications equipment provider's stock worth $76,314,000 after purchasing an additional 878,979 shares during the last quarter. Stephens Investment Management Group LLC acquired a new stake in Ciena in the 4th quarter worth about $56,997,000. Keystone Investors PTE Ltd. acquired a new position in shares of Ciena during the 4th quarter valued at about $45,341,000. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Ciena by 4,484.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 529,555 shares of the communications equipment provider's stock worth $44,912,000 after acquiring an additional 518,003 shares during the period. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Up 0.2 %

Shares of CIEN traded up $0.13 during midday trading on Wednesday, hitting $72.79. The company had a trading volume of 334,413 shares, compared to its average volume of 2,016,264. The stock has a market cap of $10.35 billion, a price-to-earnings ratio of 127.47, a PEG ratio of 1.54 and a beta of 1.11. The company's 50 day moving average price is $64.34 and its 200 day moving average price is $73.94. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. Ciena Co. has a 52 week low of $44.69 and a 52 week high of $101.44.

Analysts Set New Price Targets

A number of equities analysts have weighed in on CIEN shares. Morgan Stanley cut 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 Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Citigroup reduced their price objective on Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Needham & Company LLC cut their price target on shares of Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a report on Wednesday, March 12th. Finally, Northland Securities upgraded shares of Ciena from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $77.62.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the sale, the senior vice president now directly owns 49,197 shares of the company's stock, valued at approximately $4,435,601.52. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $65.18, for a total transaction of $443,224.00. Following the completion of the transaction, the chief executive officer now directly owns 391,749 shares of the company's stock, valued at $25,534,199.82. This trade represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 49,288 shares of company stock valued at $3,211,852 over the last three months. 0.93% of the stock is owned by insiders.

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.