MetLife Investment Management LLC Has $6.90 Million Stake in Ciena Co. (NYSE:CIEN)

MetLife Investment Management LLC lifted its holdings in Ciena Co. (NYSE:CIEN - Free Report) by 9.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,406 shares of the communications equipment provider's stock after purchasing an additional 7,129 shares during the period. MetLife Investment Management LLC owned 0.06% of Ciena worth $6,904,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in CIEN. Greenleaf Trust raised its position 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 valued at $422,000 after buying an additional 136 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its position in shares of 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 acquiring an additional 151 shares during the period. Bessemer Group Inc. grew its holdings 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 increased its position in shares of Ciena by 1.5% during the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock valued at $887,000 after purchasing an additional 152 shares during the period. Finally, Atlas Capital Advisors Inc. raised its stake in shares of Ciena by 77.2% in the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock valued at $36,000 after purchasing an additional 183 shares in the last quarter. Institutional investors and hedge funds own 91.99% of the company's stock.

Insider Transactions at Ciena

In other Ciena news, SVP Jason Phipps sold 18,888 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $59.88, for a total transaction of $1,131,013.44. Following the completion of the transaction, the senior vice president now directly owns 89,258 shares in the company, valued at $5,344,769.04. The trade was a 17.47 % decrease in their ownership of the stock. The sale 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 the business's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the transaction, the senior vice president now directly owns 49,197 shares of the company's stock, valued at approximately $4,435,601.52. The trade was a 0.71 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 49,288 shares of company stock worth $3,299,980 in the last 90 days. Corporate insiders own 0.93% of the company's stock.

Ciena Stock Up 0.3 %

Shares of Ciena stock traded up $0.23 during trading hours on Monday, reaching $66.17. 512,346 shares of the company's stock were exchanged, compared to its average volume of 2,009,629. The company has a current ratio of 3.55, a quick ratio of 2.72 and a debt-to-equity ratio of 0.54. The company has a 50 day moving average of $66.02 and a two-hundred day moving average of $73.82. The stock has a market cap of $9.41 billion, a P/E ratio of 115.98, a P/E/G ratio of 1.54 and a beta of 1.15. Ciena Co. has a fifty-two week low of $44.69 and a fifty-two week high of $101.44.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on CIEN. Barclays set a $100.00 price objective on shares of Ciena and gave the company an "overweight" rating in a research note on Wednesday, March 12th. Northland Securities upgraded Ciena from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $60.00 to $75.00 in a research report on Wednesday, March 12th. Needham & Company LLC decreased their price objective on Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Northland Capmk raised shares of Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. Finally, B. Riley reiterated a "buy" rating and issued a $89.00 price target (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $77.62.

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.