3,631 Shares in Ciena Corporation $CIEN Acquired by Callan Family Office LLC

Callan Family Office LLC acquired a new stake in Ciena Corporation (NYSE:CIEN - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 3,631 shares of the communications equipment provider's stock, valued at approximately $295,000.

Other institutional investors have also modified their holdings of the company. Vaughan Nelson Investment Management L.P. grew its stake in shares of Ciena by 375.4% in the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider's stock valued at $100,499,000 after buying an additional 975,792 shares in the last quarter. Inspire Investing LLC grew its stake in shares of Ciena by 516.6% in the first quarter. Inspire Investing LLC now owns 18,719 shares of the communications equipment provider's stock valued at $1,131,000 after buying an additional 15,683 shares in the last quarter. Amundi grew its stake in shares of Ciena by 322.8% in the first quarter. Amundi now owns 34,035 shares of the communications equipment provider's stock valued at $1,912,000 after buying an additional 25,986 shares in the last quarter. Connective Portfolio Management LLC acquired a new stake in shares of Ciena in the second quarter valued at $651,000. Finally, Oliver Lagore Vanvalin Investment Group acquired a new stake in shares of Ciena in the second quarter valued at $180,000. 91.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Ciena news, SVP Brodie Gage sold 350 shares of the company's stock in a transaction that occurred on Monday, September 15th. The stock was sold at an average price of $132.00, for a total transaction of $46,200.00. Following the completion of the sale, the senior vice president directly owned 42,918 shares of the company's stock, valued at $5,665,176. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bruce L. Claflin sold 8,461 shares of the company's stock in a transaction that occurred on Wednesday, September 24th. The shares were sold at an average price of $140.12, for a total value of $1,185,555.32. Following the sale, the director directly owned 54,624 shares of the company's stock, valued at approximately $7,653,914.88. This represents a 13.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 38,224 shares of company stock valued at $4,719,468 in the last quarter. 0.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on CIEN. Northland Securities set a $100.00 target price on Ciena in a research note on Monday, June 30th. UBS Group boosted their target price on Ciena from $78.00 to $120.00 and gave the stock a "neutral" rating in a research note on Friday, September 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Ciena in a research note on Wednesday, October 8th. B. Riley reissued a "neutral" rating and set a $113.00 target price (up from $90.00) on shares of Ciena in a research note on Friday, September 5th. Finally, BNP Paribas Exane raised Ciena from a "neutral" rating to an "outperform" rating and set a $185.00 target price for the company in a research note on Monday. Three analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Ciena presently has an average rating of "Moderate Buy" and a consensus price target of $137.53.

Ciena Stock Up 1.4%

Ciena stock opened at $171.11 on Friday. Ciena Corporation has a fifty-two week low of $49.21 and a fifty-two week high of $176.88. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.52 and a current ratio of 3.28. The company has a market capitalization of $24.14 billion, a P/E ratio of 176.40, a PEG ratio of 2.33 and a beta of 1.15. The stock has a 50-day simple moving average of $124.14 and a 200-day simple moving average of $92.29.

Ciena (NYSE:CIEN - Get Free Report) last posted its earnings results on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share for the quarter. Ciena had a return on equity of 6.62% and a net margin of 3.10%.The business had revenue of $844.44 million during the quarter. Equities research analysts expect that Ciena Corporation will post 1.6 earnings per share for the current year.

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.

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