Forum Financial Management LP acquired a new stake in shares of Ciena Co. (NYSE:CIEN - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 3,050 shares of the communications equipment provider's stock, valued at approximately $259,000.
Other institutional investors have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Ciena by 108.6% in the fourth 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 during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Ciena by 328.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after purchasing an additional 279 shares during the period. Bessemer Group Inc. raised its position in shares of Ciena by 73.7% in the fourth 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 during the period. Atlas Capital Advisors Inc. raised its position in shares of Ciena by 77.2% in the fourth 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 during the period. Finally, Picton Mahoney Asset Management bought a new position in shares of Ciena in the fourth quarter valued at about $41,000. Institutional investors own 91.99% of the company's stock.
Insider Activity at Ciena
In related news, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $79.89, for a total value of $543,252.00. Following the sale, the chief executive officer now owns 362,080 shares in the company, valued at $28,926,571.20. This represents a 1.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of the company's stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the completion of the sale, the senior vice president now owns 207,370 shares in the company, valued at approximately $14,283,645.60. This represents a 1.19% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 58,588 shares of company stock worth $3,950,907 in the last quarter. 0.93% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
Several equities analysts recently commented on CIEN shares. Needham & Company LLC decreased their price target on shares of Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research note on Wednesday, March 12th. Morgan Stanley dropped their price objective on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Evercore ISI raised their price objective on shares of Ciena from $68.00 to $82.00 and gave the stock an "in-line" rating in a research report on Friday, May 23rd. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. Finally, Barclays set a $100.00 price target on shares of Ciena and gave the company an "overweight" rating in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $79.69.
Get Our Latest Stock Report on CIEN
Ciena Stock Performance
Shares of NYSE CIEN traded down $1.57 during trading on Friday, hitting $79.98. The company had a trading volume of 2,302,900 shares, compared to its average volume of 2,029,598. The stock has a 50 day simple moving average of $68.41 and a 200 day simple moving average of $75.55. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a 12 month low of $44.69 and a 12 month high of $101.44. The firm has a market capitalization of $11.37 billion, a P/E ratio of 140.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11.
Ciena Profile
(
Free Report)
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.
See Also
Before you consider Ciena, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Ciena wasn't on the list.
While Ciena currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Enter your email address and we'll send you MarketBeat's list of ten stocks that are set to soar in Summer 2025, despite the threat of tariffs and other economic uncertainty. These ten stocks are incredibly resilient and are likely to thrive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
