Deutsche Bank AG Grows Stake in Ciena Corporation $CIEN

Key Points

• Deutsche Bank AG increased its stake in Ciena Corporation by 7.1%, holding 306,306 shares valued at approximately $18.5 million as of the end of the first quarter.
• Ciena Corporation reported $0.42 EPS for the quarter, missing analysts' estimates, but achieved a revenue of $1.13 billion, exceeding forecasts.
• Several analysts have mixed opinions on Ciena, with price targets ranging from $70 to $105, reflecting a consensus rating of "Moderate Buy".

Deutsche Bank AG boosted its position in shares of Ciena Corporation (NYSE:CIEN - Free Report) by 7.1% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 306,306 shares of the communications equipment provider's stock after purchasing an additional 20,307 shares during the quarter. Deutsche Bank AG owned about 0.22% of Ciena worth $18,510,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bessemer Group Inc. increased its holdings in shares of Ciena by 73.7% in the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock valued at $30,000 after acquiring an additional 151 shares during the period. Bayforest Capital Ltd increased its holdings in shares of Ciena by 34.7% in the 1st quarter. Bayforest Capital Ltd now owns 636 shares of the communications equipment provider's stock valued at $38,000 after acquiring an additional 164 shares during the period. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Ciena by 66.7% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider's stock valued at $39,000 after acquiring an additional 256 shares during the period. Orion Capital Management LLC purchased a new position in shares of Ciena in the 4th quarter valued at $42,000. Finally, AdvisorNet Financial Inc increased its holdings in shares of Ciena by 9,162.5% in the 1st quarter. AdvisorNet Financial Inc now owns 741 shares of the communications equipment provider's stock valued at $45,000 after acquiring an additional 733 shares during the period. 91.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

CIEN has been the topic of several analyst reports. Morgan Stanley reaffirmed an "underweight" rating and issued a $70.00 price target (down from $73.00) on shares of Ciena in a report on Tuesday, July 8th. Wall Street Zen upgraded Ciena from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Wolfe Research upgraded Ciena to a "strong-buy" rating in a research note on Tuesday, July 8th. UBS Group boosted their target price on Ciena from $73.00 to $78.00 and gave the stock a "neutral" rating in a research note on Friday, June 6th. Finally, Northland Securities set a $100.00 target price on Ciena in a research note on Monday, June 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, Ciena presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.54.

Insider Buying and Selling at Ciena

In related news, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $82.23, for a total value of $559,164.00. Following the transaction, the chief executive officer directly 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 filing with the SEC, which is accessible through the SEC website. Also, SVP Joseph Cumello sold 2,044 shares of the business's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $81.64, for a total value of $166,872.16. Following the completion of the sale, the senior vice president directly owned 47,198 shares of the company's stock, valued at $3,853,244.72. The trade was a 4.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 25,819 shares of company stock valued at $2,047,280 in the last quarter. Corporate insiders own 0.93% of the company's stock.

Ciena Price Performance

CIEN stock traded up $0.04 during mid-day trading on Monday, reaching $90.91. 338,848 shares of the company's stock were exchanged, compared to its average volume of 2,271,098. The company has a market cap of $12.85 billion, a price-to-earnings ratio of 126.44, a price-to-earnings-growth ratio of 2.03 and a beta of 1.11. The stock's 50 day moving average is $83.43 and its 200 day moving average is $76.56. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.40 and a quick ratio of 2.57. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $101.44.

Ciena (NYSE:CIEN - Get Free Report) last released 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 firm had revenue of $1.13 billion during 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 business's revenue was up 23.6% compared to the same quarter last year. During the same quarter last year, the business earned $0.27 EPS. On average, research analysts expect that Ciena Corporation will post 1.6 EPS for the current year.

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.