TriaGen Wealth Management LLC Invests $915,000 in Ciena Corporation $CIEN

Key Points

• TriaGen Wealth Management opened a new position in Ciena, buying 3,914 shares worth about $915,000 in Q4, and institutional investors now own roughly 91.99% of the stock.
• Insiders have been sizable net sellers recently: SVP Jason Phipps sold 22,014 shares for about $9.02M under a Rule 10b5-1 plan, and insiders disposed of 42,974 shares worth roughly $16.6M over the last 90 days, leaving insider ownership at ~0.58%.
• Ciena beat its latest quarter (EPS $1.35 vs. $1.17 est.) with revenue up 33.1% YoY, but the stock carries a high valuation (market cap ≈ $71.68B, PE ≈ 322.9) and a MarketBeat consensus target of about $348.59.

TriaGen Wealth Management LLC bought a new position in Ciena Corporation (NYSE:CIEN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,914 shares of the communications equipment provider's stock, valued at approximately $915,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hilltop National Bank purchased a new position in shares of Ciena in the fourth quarter valued at about $35,000. Community Bank N.A. purchased a new stake in shares of Ciena during the third quarter worth about $25,000. Mather Group LLC. bought a new stake in shares of Ciena in the third quarter worth about $28,000. Assetmark Inc. grew its stake in shares of Ciena by 50.4% in the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider's stock worth $29,000 after purchasing an additional 67 shares during the last quarter. Finally, Wolff Wiese Magana LLC purchased a new position in Ciena during the 4th quarter valued at about $47,000. 91.99% of the stock is currently owned by institutional investors.

Insider Activity

In related news, SVP Jason Phipps sold 22,014 shares of the firm's stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $409.80, for a total transaction of $9,021,337.20. Following the completion of the transaction, the senior vice president owned 68 shares of the company's stock, valued at $27,866.40. This trade represents a 99.69% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of Ciena stock in a transaction on Monday, March 16th. The shares were sold at an average price of $359.53, for a total value of $1,061,332.56. Following the transaction, the chief executive officer owned 293,084 shares of the company's stock, valued at $105,372,490.52. The trade was a 1.00% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 42,974 shares of company stock worth $16,615,505. Insiders own 0.58% of the company's stock.

Ciena Stock Down 0.1%

NYSE:CIEN opened at $506.96 on Monday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. The firm's 50-day moving average price is $378.22 and its 200-day moving average price is $269.31. The company has a market capitalization of $71.68 billion, a PE ratio of 322.90, a P/E/G ratio of 1.67 and a beta of 1.01. Ciena Corporation has a 1-year low of $56.94 and a 1-year high of $513.83.

Ciena (NYSE:CIEN - Get Free Report) last posted its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, topping the consensus estimate of $1.17 by $0.18. The business had revenue of $1.43 billion for the quarter, compared to analyst estimates of $1.40 billion. Ciena had a net margin of 4.47% and a return on equity of 12.09%. Ciena's quarterly revenue was up 33.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.64 earnings per share. On average, equities analysts predict that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have weighed in on CIEN. Raymond James Financial reiterated an "outperform" rating and issued a $320.00 price objective on shares of Ciena in a report on Thursday, March 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Ciena in a research note on Wednesday, January 21st. Stifel Nicolaus upped their target price on Ciena from $320.00 to $430.00 and gave the company a "buy" rating in a report on Monday, March 23rd. Bank of America raised their price target on Ciena from $355.00 to $550.00 and gave the stock a "buy" rating in a research note on Thursday. Finally, Wolfe Research reiterated an "outperform" rating and issued a $375.00 price target on shares of Ciena in a report on Thursday, March 5th. One analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Ciena currently has an average rating of "Moderate Buy" and a consensus target price of $348.59.

Ciena Company Profile

Ciena Corporation NYSE: CIEN is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena's product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.

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