Harbour Capital Advisors LLC Has $2.28 Million Stock Holdings in Ciena Corporation (NYSE:CIEN)

Harbour Capital Advisors LLC increased its stake in Ciena Corporation (NYSE:CIEN - Free Report) by 13.6% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 40,555 shares of the communications equipment provider's stock after buying an additional 4,845 shares during the quarter. Harbour Capital Advisors LLC's holdings in Ciena were worth $2,279,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. Annis Gardner Whiting Capital Advisors LLC grew its stake in Ciena by 108.6% during the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock valued at $25,000 after purchasing an additional 151 shares in the last quarter. Bessemer Group Inc. grew its stake in Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock valued at $30,000 after purchasing an additional 151 shares in the last quarter. US Bancorp DE grew its stake in Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock valued at $887,000 after purchasing an additional 152 shares in the last quarter. State of Alaska Department of Revenue grew its stake in Ciena by 1.1% during the 1st quarter. State of Alaska Department of Revenue now owns 16,649 shares of the communications equipment provider's stock valued at $1,006,000 after purchasing an additional 180 shares in the last quarter. Finally, Atlas Capital Advisors Inc. grew its stake in Ciena by 77.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock valued at $36,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

Ciena Stock Up 1.0%

NYSE CIEN traded up $0.79 on Friday, reaching $82.30. The stock had a trading volume of 3,397,424 shares, compared to its average volume of 2,102,975. The company has a market capitalization of $11.63 billion, a price-to-earnings ratio of 114.31, a P/E/G ratio of 1.78 and a beta of 1.12. The business has a 50 day moving average price of $75.17 and a 200 day moving average price of $76.35. Ciena Corporation has a 1 year low of $44.89 and a 1 year high of $101.44. The company has a current ratio of 3.40, a quick ratio of 2.57 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 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 the consensus estimate of $1.09 billion. Ciena had a net margin of 2.46% and a return on equity of 5.08%. Ciena's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.27 EPS. On average, analysts forecast that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Insider Activity at Ciena

In other Ciena news, SVP Jason Phipps sold 18,888 shares of Ciena stock in a transaction dated Tuesday, April 1st. The stock was 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 directly owns 89,258 shares in the company, valued at approximately $5,344,769.04. The trade was a 17.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $78.67, for a total value of $27,534.50. Following the completion of the sale, the senior vice president now directly owns 46,233 shares in the company, valued at $3,637,150.11. This represents a 0.75% decrease in their position. The disclosure for this sale can be found here. Insiders sold 49,638 shares of company stock valued at $3,345,797 in the last three months. Corporate insiders own 0.93% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. Morgan Stanley raised their price objective on Ciena from $44.00 to $73.00 and gave the company an "equal weight" rating in a research note on Friday, June 6th. Evercore ISI reiterated a "mixed" rating on shares of Ciena in a research report on Friday, June 6th. Needham & Company LLC reiterated a "buy" rating and issued a $90.00 target price on shares of Ciena in a research report on Friday, June 6th. Rosenblatt Securities lifted their target price on Ciena from $65.00 to $85.00 and gave the stock a "neutral" rating in a research report on Tuesday, June 3rd. Finally, B. Riley reiterated a "buy" rating and issued a $90.00 target price (up previously from $89.00) on shares of Ciena in a research report on Friday, June 6th. Six equities research analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $83.15.

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.