Ciena Co. (NYSE:CIEN) Shares Sold by Guggenheim Capital LLC

Guggenheim Capital LLC lessened its position in Ciena Co. (NYSE:CIEN - Free Report) by 86.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 12,876 shares of the communications equipment provider's stock after selling 79,974 shares during the quarter. Guggenheim Capital LLC's holdings in Ciena were worth $1,092,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in CIEN. Sanctuary Advisors LLC lifted its holdings in shares of Ciena by 75.8% in the 3rd quarter. Sanctuary Advisors LLC now owns 8,315 shares of the communications equipment provider's stock worth $512,000 after acquiring an additional 3,584 shares during the last quarter. Retirement Systems of Alabama increased its stake in Ciena by 4.8% in the 3rd quarter. Retirement Systems of Alabama now owns 403,490 shares of the communications equipment provider's stock worth $24,851,000 after buying an additional 18,426 shares during the period. Versant Capital Management Inc increased its stake in Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider's stock worth $28,000 after buying an additional 296 shares during the period. GAMMA Investing LLC increased its stake in Ciena by 27.7% in the 4th quarter. GAMMA Investing LLC now owns 2,109 shares of the communications equipment provider's stock worth $179,000 after buying an additional 458 shares during the period. Finally, Everence Capital Management Inc. purchased a new position in Ciena in the 4th quarter worth about $235,000. Institutional investors own 91.99% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Northland Securities raised shares of Ciena from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. JPMorgan Chase & Co. reduced their price target on shares of Ciena from $88.00 to $76.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. Rosenblatt Securities reduced their price target on shares of Ciena from $73.00 to $65.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 22nd. Morgan Stanley cut their target price on shares of Ciena from $80.00 to $76.00 and set an "equal weight" rating on the stock in a research report on Wednesday, March 12th. Finally, Needham & Company LLC cut their target price on shares of Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Four research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $77.62.

Ciena Stock Performance

CIEN stock traded up $0.60 during trading on Monday, reaching $66.54. The company had a trading volume of 1,696,806 shares, compared to its average volume of 2,014,181. The firm has a 50-day simple moving average of $65.62 and a 200-day simple moving average of $73.81. The company has a market cap of $9.46 billion, a price-to-earnings ratio of 116.74, a price-to-earnings-growth ratio of 1.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a twelve month low of $44.69 and a twelve month high of $101.44.

Insider Buying and Selling

In related news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $59.54, for a total value of $404,872.00. Following the completion of the sale, the chief executive officer now directly owns 375,680 shares in the company, valued at $22,367,987.20. This trade represents a 1.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Brodie Gage sold 350 shares of Ciena stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total transaction of $31,556.00. Following the completion of the sale, the senior vice president now owns 49,197 shares of the company's stock, valued at $4,435,601.52. This trade represents a 0.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 49,288 shares of company stock worth $3,299,980 in the last three months. Corporate insiders own 0.93% of the company's stock.

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.