Two Sigma Advisers LP Invests $2.69 Million in Ciena Co. (NYSE:CIEN)

Two Sigma Advisers LP bought a new position in Ciena Co. (NYSE:CIEN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 31,716 shares of the communications equipment provider's stock, valued at approximately $2,690,000.

A number of other large investors have also added to or reduced their stakes in the stock. US Bancorp DE grew its holdings in Ciena by 1.5% during the 4th quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock valued at $887,000 after buying an additional 152 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in shares of Ciena by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider's stock valued at $81,403,000 after buying an additional 4,315 shares during the period. Kestra Private Wealth Services LLC bought a new position in Ciena in the fourth quarter worth approximately $1,129,000. Choreo LLC bought a new stake in Ciena during the fourth quarter valued at about $328,000. Finally, Institute for Wealth Management LLC. purchased a new stake in Ciena during the fourth quarter valued at approximately $246,000. Institutional investors own 91.99% of the company's stock.

Analyst Upgrades and Downgrades

CIEN has been the subject of a number of research analyst reports. Morgan Stanley decreased their price target on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a report on Wednesday, March 12th. Needham & Company LLC cut their price target on Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. B. Riley reiterated a "buy" rating and issued a $89.00 price objective (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Northland Securities upgraded shares of Ciena from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. Finally, Citigroup reduced 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. Four research 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. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $79.69.

Ciena Price Performance

Shares of CIEN stock traded down $1.57 during mid-day trading on Friday, reaching $79.98. The stock had a trading volume of 2,302,900 shares, compared to its average volume of 2,030,520. The company has a market cap of $11.37 billion, a P/E ratio of 140.32, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. Ciena Co. has a 12-month low of $44.69 and a 12-month high of $101.44. The business has a 50-day simple moving average of $68.20 and a 200 day simple moving average of $75.42.

Insider Activity at Ciena

In other news, SVP Brodie Gage sold 350 shares of the firm's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $78.67, for a total value of $27,534.50. Following the transaction, the senior vice president now owns 46,233 shares of the company's stock, valued at approximately $3,637,150.11. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $59.54, for a total transaction of $404,872.00. Following the transaction, the chief executive officer now owns 375,680 shares in the company, valued at $22,367,987.20. The trade was a 1.78% 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 valued at $3,950,907. 0.93% of the stock is owned by 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.