Ciena Co. (NYSE:CIEN) Stake Cut by Deutsche Bank AG

Deutsche Bank AG trimmed its position in Ciena Co. (NYSE:CIEN - Free Report) by 48.9% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 285,999 shares of the communications equipment provider's stock after selling 273,339 shares during the period. Deutsche Bank AG owned about 0.20% of Ciena worth $24,256,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in CIEN. Oak Thistle LLC purchased a new position in shares of Ciena during the 4th quarter worth about $755,000. Park Avenue Securities LLC lifted its holdings in shares of Ciena by 17.4% during the 4th quarter. Park Avenue Securities LLC now owns 38,350 shares of the communications equipment provider's stock worth $3,252,000 after acquiring an additional 5,684 shares during the period. Gateway Investment Advisers LLC lifted its holdings in shares of Ciena by 122.5% during the 4th quarter. Gateway Investment Advisers LLC now owns 58,447 shares of the communications equipment provider's stock worth $4,957,000 after acquiring an additional 32,176 shares during the period. Ritholtz Wealth Management purchased a new position in shares of Ciena during the 4th quarter worth about $245,000. Finally, Boston Common Asset Management LLC purchased a new position in shares of Ciena during the 4th quarter worth about $256,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. Morgan Stanley cut their price objective on shares of 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. dropped their target price on shares of Ciena from $88.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $60.00 to $75.00 in a research report on Wednesday, March 12th. Barclays set a $100.00 target price on shares of Ciena and gave the stock an "overweight" rating in a research report on Wednesday, March 12th. Finally, Northland Capmk raised shares of Ciena from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 12th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $77.62.

Ciena Stock Up 1.8%

NYSE:CIEN traded up $1.42 during trading hours on Friday, hitting $81.22. The stock had a trading volume of 1,271,816 shares, compared to its average volume of 2,035,491. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a 1-year low of $44.69 and a 1-year high of $101.44. The business has a 50 day simple moving average of $65.40 and a two-hundred day simple moving average of $74.63. The company has a market cap of $11.54 billion, a PE ratio of 142.49, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11.

Insider Buying and Selling at Ciena

In other news, SVP Brodie Gage sold 350 shares of the 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 completion of 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 transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $76.41, for a total value of $519,588.00. Following the transaction, the chief executive officer now owns 398,549 shares of the company's stock, valued at approximately $30,453,129.09. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,138 shares of company stock valued at $3,439,211 over the last 90 days. 0.93% of the stock is owned by corporate insiders.

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.