Fox Run Management L.L.C. Purchases Shares of 13,501 Ciena Corporation $CIEN

Key Points

• Fox Run Management L.L.C. has invested approximately $816,000 in Ciena Corporation by purchasing 13,501 shares during the first quarter.
• Insider selling was noted, with SVP Jason Phipps and SVP Joseph Cumello each offloading shares, decreasing their ownership by 2.67% and 4.15%, respectively.
• Ciena Corporation's quarterly earnings report showed a miss on EPS estimates, reporting $0.42 EPS compared to the expected $0.50, despite a revenue increase of 23.6% year-over-year to $1.13 billion.

Fox Run Management L.L.C. purchased a new position in shares of Ciena Corporation (NYSE:CIEN - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 13,501 shares of the communications equipment provider's stock, valued at approximately $816,000.

Other large investors have also made changes to their positions in the company. Cambridge Investment Research Advisors Inc. acquired a new stake in shares of Ciena during the 1st quarter worth approximately $219,000. GAMMA Investing LLC boosted its position in shares of Ciena by 40.4% during the 1st quarter. GAMMA Investing LLC now owns 2,960 shares of the communications equipment provider's stock worth $179,000 after acquiring an additional 851 shares in the last quarter. Assenagon Asset Management S.A. acquired a new stake in shares of Ciena during the 1st quarter worth approximately $2,398,000. Bessemer Group Inc. boosted its position in shares of Ciena by 50.0% during the 1st quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider's stock worth $32,000 after acquiring an additional 178 shares in the last quarter. Finally, LPL Financial LLC boosted its position in shares of Ciena by 28.6% during the 1st quarter. LPL Financial LLC now owns 48,879 shares of the communications equipment provider's stock worth $2,954,000 after acquiring an additional 10,856 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

Insider Activity

In related news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $82.23, for a total transaction of $559,164.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Friday, August 15th. The stock was sold at an average price of $90.94, for a total transaction of $31,829.00. Following the transaction, the senior vice president directly owned 43,268 shares of the company's stock, valued at $3,934,791.92. This represents a 0.80% decrease in their position. The disclosure for this sale can be found here. Insiders sold 32,969 shares of company stock worth $2,694,781 over the last ninety days. Corporate insiders own 0.93% of the company's stock.

Ciena Trading Down 3.5%

NYSE CIEN traded down $3.0720 during mid-day trading on Wednesday, reaching $85.6980. 1,206,373 shares of the stock were exchanged, compared to its average volume of 2,264,542. Ciena Corporation has a one year low of $49.21 and a one year high of $101.44. The stock has a 50 day simple moving average of $84.15 and a 200-day simple moving average of $76.68. The stock has a market cap of $12.11 billion, a P/E ratio of 119.14, a P/E/G ratio of 2.06 and a beta of 1.11. 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 (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 analysts' consensus estimates of $0.50 by ($0.08). Ciena had a return on equity of 5.08% and a net margin of 2.46%.The firm had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same period in the prior year, the business earned $0.27 EPS. Ciena's quarterly revenue was up 23.6% on a year-over-year basis. Ciena has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, analysts anticipate that Ciena Corporation will post 1.6 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently issued reports on CIEN shares. Wall Street Zen upgraded shares of Ciena from a "hold" rating to a "buy" rating in a research report on Saturday, July 5th. Morgan Stanley restated an "underweight" rating and issued a $70.00 target price (down previously from $73.00) on shares of Ciena in a research report on Tuesday, July 8th. JPMorgan Chase & Co. raised 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. UBS Group raised their target price on shares of Ciena from $73.00 to $78.00 and gave the company a "neutral" rating in a research report on Friday, June 6th. Finally, Needham & Company LLC restated a "buy" rating and issued a $90.00 target price on shares of Ciena in a research report on Friday, June 6th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Ciena currently has a consensus rating of "Moderate Buy" and a consensus price target of $85.54.

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.