Jump Financial LLC Invests $9.69 Million in Ciena Corporation $CIEN

Key Points

• Jump Financial LLC has acquired 160,364 shares of Ciena Corporation, investing approximately $9.69 million in the communications equipment provider.
• Several analysts have increased their price targets for Ciena, with Rosenblatt Securities setting a new target of $85.00 and Wolfe Research upgrading the stock to a "strong-buy" rating.
• Ciena reported a 23.6% year-over-year increase in revenue for the recent quarter, despite posting an earnings per share of $0.42, which missed expectations by $0.08.

Jump Financial LLC purchased a new position in shares of Ciena Corporation (NYSE:CIEN - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 160,364 shares of the communications equipment provider's stock, valued at approximately $9,691,000. Jump Financial LLC owned approximately 0.11% of Ciena as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Nuveen LLC bought a new position in shares of Ciena in the first quarter valued at $70,065,000. Polar Capital Holdings Plc grew its stake in shares of Ciena by 113.7% in the fourth quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider's stock valued at $183,987,000 after buying an additional 1,154,260 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Ciena by 971.7% in the fourth quarter. Janus Henderson Group PLC now owns 729,722 shares of the communications equipment provider's stock valued at $61,891,000 after buying an additional 661,630 shares in the last quarter. Northern Trust Corp grew its stake in shares of Ciena by 26.2% in the fourth quarter. Northern Trust Corp now owns 1,238,284 shares of the communications equipment provider's stock valued at $105,019,000 after buying an additional 257,197 shares in the last quarter. Finally, Foundations Investment Advisors LLC bought a new position in shares of Ciena in the first quarter valued at $12,973,000. 91.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on CIEN. Wolfe Research raised shares of Ciena to a "strong-buy" rating in a research note on Tuesday, July 8th. Morgan Stanley reaffirmed an "underweight" rating and set a $70.00 price objective (down from $73.00) on shares of Ciena in a research report on Tuesday, July 8th. Evercore ISI reissued a "mixed" rating on shares of Ciena in a research report on Friday, June 6th. JPMorgan Chase & Co. boosted their target price on shares of Ciena from $83.00 to $105.00 and gave the company an "overweight" rating in a research report on Thursday, July 17th. Finally, UBS Group boosted their price target on Ciena from $73.00 to $78.00 and gave the company a "neutral" rating in a research note on Friday, June 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $85.54.

Ciena Stock Up 5.5%

NYSE CIEN traded up $5.13 on Thursday, reaching $97.87. The company had a trading volume of 2,753,151 shares, compared to its average volume of 2,251,608. The stock has a market capitalization of $13.84 billion, a P/E ratio of 135.92, a P/E/G ratio of 2.05 and a beta of 1.11. The company's fifty day moving average is $86.13 and its 200 day moving average is $76.78. Ciena Corporation has a 52-week low of $49.21 and a 52-week high of $101.44. The company has a quick ratio of 2.57, a current ratio of 3.40 and a debt-to-equity ratio of 0.55.

Ciena (NYSE:CIEN - Get Free Report) last announced its earnings results on Thursday, June 5th. The communications equipment provider reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.50 by ($0.08). The business had revenue of $1.13 billion for the quarter, compared to analysts' expectations of $1.09 billion. Ciena had a net margin of 2.46% and a return on equity of 5.08%. The company's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same period in the prior year, the business earned $0.27 earnings per share. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Sell-side analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Ciena news, CEO Gary B. Smith sold 6,800 shares of the firm's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $82.23, for a total value of $559,164.00. Following the sale, the chief executive officer owned 325,557 shares of the company's stock, valued at $26,770,552.11. This trade represents a 2.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction dated Friday, August 15th. The shares were sold at an average price of $90.94, for a total value of $31,829.00. Following the completion of the sale, the senior vice president directly owned 43,268 shares in the company, valued at approximately $3,934,791.92. The trade was a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 32,969 shares of company stock worth $2,694,781 in the last 90 days. 0.93% of the stock is owned by company 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.