State of New Jersey Common Pension Fund D Sells 5,015 Shares of Ciena Corporation $CIEN

Key Points

• The State of New Jersey Common Pension Fund D reduced its stake in Ciena Corporation by 9.0%, selling 5,015 shares, bringing its total holdings to 50,709 shares worth $3.06 million.
• Ciena reported $0.42 earnings per share for the last quarter, missing estimates of $0.50, but achieved a 23.6% year-over-year revenue growth with total revenues of $1.13 billion.
• Institutional investors and hedge funds collectively own 91.99% of Ciena's stock, indicating strong interest from large investment entities.

State of New Jersey Common Pension Fund D trimmed its stake in Ciena Corporation (NYSE:CIEN - Free Report) by 9.0% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,709 shares of the communications equipment provider's stock after selling 5,015 shares during the period. State of New Jersey Common Pension Fund D's holdings in Ciena were worth $3,064,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its position in Ciena by 50.0% in the first quarter. Bessemer Group Inc. now owns 534 shares of the communications equipment provider's stock worth $32,000 after purchasing an additional 178 shares during the period. Bayforest Capital Ltd raised its stake 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 buying an additional 164 shares in the last quarter. MassMutual Private Wealth & Trust FSB lifted its holdings in shares of Ciena by 66.7% during the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 640 shares of the communications equipment provider's stock worth $39,000 after acquiring an additional 256 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Ciena during the 4th quarter valued at about $42,000. Finally, AdvisorNet Financial Inc increased its stake in Ciena by 9,162.5% in the first 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. Institutional investors and hedge funds own 91.99% of the company's stock.

Ciena Price Performance

Shares of CIEN opened at $86.5670 on Thursday. The stock has a market cap of $12.24 billion, a P/E ratio of 120.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.11. Ciena Corporation has a 1 year low of $49.21 and a 1 year high of $101.44. The stock's 50-day moving average price is $84.43 and its two-hundred day moving average price is $76.75. The company has a current ratio of 3.40, a quick ratio of 2.57 and a debt-to-equity ratio of 0.55.

Ciena (NYSE:CIEN - Get Free Report) last posted 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). Ciena had a return on equity of 5.08% and a net margin of 2.46%.The business had revenue of $1.13 billion for the quarter, compared to the consensus estimate of $1.09 billion. During the same quarter in the prior year, the firm posted $0.27 earnings per share. The business's 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, equities analysts predict that Ciena Corporation will post 1.6 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CIEN has been the subject of a number of analyst reports. UBS Group lifted their price objective on Ciena from $73.00 to $78.00 and gave the company a "neutral" rating in a report on Friday, June 6th. JPMorgan Chase & Co. boosted their price target 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. Morgan Stanley reaffirmed an "underweight" rating and set a $70.00 price objective (down previously from $73.00) on shares of Ciena in a report on Tuesday, July 8th. Evercore ISI reiterated a "mixed" rating on shares of Ciena in a research note on Friday, June 6th. Finally, Northland Securities set a $100.00 price target on Ciena in a research report on Monday, June 30th. Two equities research analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $85.54.

Insiders Place Their Bets

In other news, SVP Jason Phipps sold 2,325 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $80.50, for a total value of $187,162.50. Following the completion of the transaction, the senior vice president owned 84,833 shares in the company, valued at $6,829,056.50. This represents a 2.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Joseph Cumello sold 2,044 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $81.64, for a total transaction of $166,872.16. Following the sale, the senior vice president owned 47,198 shares in the company, valued at approximately $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 a total of 32,969 shares of company stock valued at $2,694,781 over the last 90 days. 0.93% of the stock is owned by company insiders.

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.

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