Sphera Management Technology Funds Ltd Acquires Shares of 20,000 Ciena Co. (NYSE:CIEN)

Sphera Management Technology Funds Ltd bought a new position in Ciena Co. (NYSE:CIEN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 20,000 shares of the communications equipment provider's stock, valued at approximately $1,696,000. Ciena comprises 1.0% of Sphera Management Technology Funds Ltd's portfolio, making the stock its 24th biggest position.

A number of other large investors have also recently made changes to their positions in the company. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Ciena by 108.6% during 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 buying an additional 151 shares during the period. Bessemer Group Inc. boosted its holdings 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 acquiring an additional 151 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock valued at $30,000 after acquiring an additional 279 shares during the period. Atlas Capital Advisors Inc. grew its position in Ciena by 77.2% in the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock valued at $36,000 after acquiring an additional 183 shares during the last quarter. Finally, Picton Mahoney Asset Management purchased a new stake in Ciena in the fourth quarter worth $41,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Ciena news, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total value of $31,556.00. Following the completion of the transaction, the senior vice president now owns 49,197 shares of the company's stock, valued at approximately $4,435,601.52. This trade represents a 0.71% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the business's stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $76.41, for a total transaction of $519,588.00. Following the sale, the chief executive officer now directly owns 398,549 shares in the company, valued at $30,453,129.09. This trade represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 52,138 shares of company stock worth $3,439,211. Insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

CIEN has been the topic of a number of research analyst reports. Rosenblatt Securities cut their price target on shares of Ciena from $73.00 to $65.00 and set a "neutral" rating on the stock in a report on Tuesday, April 22nd. Needham & Company LLC dropped their target price 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. Barclays set a $100.00 price target on shares of Ciena and gave the company an "overweight" rating in a research note on Wednesday, March 12th. Morgan Stanley dropped their price objective on Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research note on Wednesday, March 12th. Finally, Citigroup decreased their target price on Ciena from $98.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $77.62.

Ciena Trading Up 1.8%

NYSE:CIEN opened at $81.22 on Monday. The stock has a market capitalization of $11.54 billion, a price-to-earnings ratio of 142.49, a PEG ratio of 1.54 and a beta of 1.11. Ciena Co. has a 52 week low of $44.69 and a 52 week high of $101.44. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54. The firm has a 50 day moving average of $65.40 and a 200 day moving average of $74.70.

About Ciena

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.

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