Quantinno Capital Management LP Acquires 9,916 Shares of Ciena Co. (NYSE:CIEN)

Quantinno Capital Management LP raised its position in shares of Ciena Co. (NYSE:CIEN - Free Report) by 49.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 30,023 shares of the communications equipment provider's stock after acquiring an additional 9,916 shares during the quarter. Quantinno Capital Management LP's holdings in Ciena were worth $2,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ritholtz Wealth Management bought a new position in shares of Ciena during the fourth quarter valued at approximately $245,000. Merit Financial Group LLC bought a new position in Ciena during the 4th quarter valued at approximately $421,000. HB Wealth Management LLC raised its stake in Ciena by 26.7% during the fourth quarter. HB Wealth Management LLC now owns 7,071 shares of the communications equipment provider's stock valued at $600,000 after buying an additional 1,491 shares during the last quarter. UMB Bank n.a. boosted its holdings in Ciena by 59.2% in the fourth quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider's stock worth $61,000 after acquiring an additional 267 shares in the last quarter. Finally, Blue Trust Inc. grew its stake in shares of Ciena by 44.4% in the fourth quarter. Blue Trust Inc. now owns 2,056 shares of the communications equipment provider's stock worth $174,000 after acquiring an additional 632 shares during the last quarter. Hedge funds and other institutional investors own 91.99% of the company's stock.

Insiders Place Their Bets

In other news, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $78.67, for a total transaction of $27,534.50. Following the sale, the senior vice president now owns 46,233 shares in the company, valued at $3,637,150.11. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the company's stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $79.89, for a total transaction of $543,252.00. Following the transaction, the chief executive officer now owns 362,080 shares of the company's stock, valued at approximately $28,926,571.20. This represents a 1.84% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 58,588 shares of company stock worth $3,950,907. Corporate insiders own 0.93% of the company's stock.

Analyst Ratings Changes

CIEN has been the topic of a number of analyst reports. Citigroup dropped their price target on shares of Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Morgan Stanley cut their price target on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a report on Wednesday, March 12th. Rosenblatt Securities decreased their price objective on shares of Ciena from $73.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. Evercore ISI upped their price objective on Ciena from $68.00 to $82.00 and gave the company an "in-line" rating in a research report on Friday. Finally, B. Riley reaffirmed a "buy" rating and set a $89.00 price objective (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Four investment 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 company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $78.92.

Ciena Stock Performance

Shares of CIEN stock traded up $0.19 during trading hours on Monday, reaching $80.31. 705,244 shares of the company traded hands, compared to its average volume of 2,029,905. The firm has a 50-day moving average price of $67.00 and a 200 day moving average price of $75.20. The company has a market cap of $11.42 billion, a P/E ratio of 140.90, a P/E/G ratio of 1.54 and a beta of 1.11. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. Ciena Co. has a 12-month low of $44.69 and a 12-month high of $101.44.

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.