Ciena Co. (NYSE:CIEN) Shares Acquired by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Ciena Co. (NYSE:CIEN - Free Report) by 7.7% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 582,784 shares of the communications equipment provider's stock after buying an additional 41,687 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.41% of Ciena worth $49,426,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Price T Rowe Associates Inc. MD increased its position in Ciena by 195.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider's stock worth $392,345,000 after buying an additional 3,062,883 shares in the last quarter. Polar Capital Holdings Plc increased its position in Ciena by 113.7% during the 4th quarter. Polar Capital Holdings Plc now owns 2,169,406 shares of the communications equipment provider's stock worth $183,987,000 after purchasing an additional 1,154,260 shares in the last quarter. Marshall Wace LLP raised its stake in Ciena by 4,215.9% in the 4th quarter. Marshall Wace LLP now owns 899,828 shares of the communications equipment provider's stock valued at $76,314,000 after purchasing an additional 878,979 shares during the last quarter. Stephens Investment Management Group LLC purchased a new position in Ciena in the 4th quarter valued at about $56,997,000. Finally, Janus Henderson Group PLC grew its holdings in shares of Ciena by 971.7% during the fourth quarter. Janus Henderson Group PLC now owns 729,722 shares of the communications equipment provider's stock worth $61,891,000 after buying an additional 661,630 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Ciena

In related news, SVP David M. Rothenstein sold 2,500 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $79.93, for a total transaction of $199,825.00. Following the transaction, the senior vice president now directly owns 202,370 shares of the company's stock, valued at approximately $16,175,434.10. The trade was a 1.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 398,549 shares of the company's stock, valued at $30,453,129.09. This trade represents a 1.68% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 58,588 shares of company stock valued at $3,950,907 over the last ninety days. Corporate insiders own 0.93% of the company's stock.

Ciena Trading Down 1.3%

Shares of NYSE:CIEN traded down $1.10 during trading on Thursday, reaching $81.60. 756,325 shares of the stock were exchanged, compared to its average volume of 2,024,680. The firm's 50-day moving average price is $67.96 and its 200 day moving average price is $75.35. The firm has a market cap of $11.60 billion, a price-to-earnings ratio of 143.13, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. Ciena Co. has a 12-month low of $44.69 and a 12-month high of $101.44. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.

Analyst Upgrades and Downgrades

CIEN has been the topic of several recent analyst reports. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and upped their price objective for the company from $60.00 to $75.00 in a research note on Wednesday, March 12th. Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Needham & Company LLC lowered their price objective on Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a research report on Wednesday, March 12th. Citigroup decreased their price target on Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, Morgan Stanley cut their price objective 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. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $79.69.

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.