Williams Jones Wealth Management LLC. Has $22.34 Million Stock Holdings in Ciena Co. (NYSE:CIEN)

Williams Jones Wealth Management LLC. boosted its holdings in shares of Ciena Co. (NYSE:CIEN - Free Report) by 46.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 263,435 shares of the communications equipment provider's stock after buying an additional 83,065 shares during the period. Williams Jones Wealth Management LLC. owned approximately 0.19% of Ciena worth $22,342,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of CIEN. Greenleaf Trust raised its holdings in shares of Ciena by 2.8% during the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider's stock worth $422,000 after acquiring an additional 136 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Ciena by 108.6% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider's stock worth $25,000 after purchasing an additional 151 shares during the last quarter. Bessemer Group Inc. raised its stake in shares of Ciena by 73.7% during the 4th quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after purchasing an additional 151 shares in the last quarter. US Bancorp DE lifted its holdings in shares of 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 during the last quarter. Finally, Atlas Capital Advisors Inc. grew its stake in shares of 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 buying an additional 183 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Citigroup cut their price objective on shares of Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. B. Riley reaffirmed a "buy" rating and issued a $89.00 price objective (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Northland Securities upgraded shares of Ciena from a "market perform" rating to an "outperform" rating and upped their price objective for the stock from $60.00 to $75.00 in a report on Wednesday, March 12th. Northland Capmk upgraded Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Finally, Barclays set a $100.00 price target on Ciena and gave the stock an "overweight" rating in a research report on Wednesday, March 12th. Four equities research 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 data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $77.62.

Ciena Stock Down 0.3%

CIEN opened at $81.01 on Tuesday. The business has a 50 day moving average of $65.70 and a 200-day moving average of $74.82. The stock has a market capitalization of $11.52 billion, a price-to-earnings ratio of 142.13, a P/E/G 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 1-year low of $44.69 and a 1-year high of $101.44.

Insider Activity at Ciena

In other news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $59.54, for a total transaction of $404,872.00. Following the sale, the chief executive officer now owns 375,680 shares of the company's stock, valued at approximately $22,367,987.20. This trade represents a 1.78% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP David M. Rothenstein sold 2,500 shares of the company's stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $79.93, for a total value of $199,825.00. Following the completion of the transaction, the senior vice president now owns 202,370 shares of the company's stock, valued at $16,175,434.10. The trade was a 1.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 58,588 shares of company stock worth $3,950,907 in the last ninety days. 0.93% of the stock is currently owned by insiders.

Ciena 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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