Ciena Co. (NYSE:CIEN) Position Increased by Nissay Asset Management Corp Japan ADV

Nissay Asset Management Corp Japan ADV raised its position in shares of Ciena Co. (NYSE:CIEN - Free Report) by 11.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 33,995 shares of the communications equipment provider's stock after purchasing an additional 3,359 shares during the period. Nissay Asset Management Corp Japan ADV's holdings in Ciena were worth $2,946,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of Ciena by 108.6% in the fourth 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 last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Ciena by 328.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider's stock worth $30,000 after buying an additional 279 shares in the last quarter. Bessemer Group Inc. lifted its position in Ciena by 73.7% during the fourth quarter. Bessemer Group Inc. now owns 356 shares of the communications equipment provider's stock worth $30,000 after buying an additional 151 shares in the last quarter. Atlas Capital Advisors Inc. lifted its position in Ciena by 77.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider's stock worth $36,000 after buying an additional 183 shares in the last quarter. Finally, Picton Mahoney Asset Management purchased a new position in Ciena during the fourth quarter worth approximately $41,000. 91.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on CIEN. 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 report on Wednesday, March 12th. Barclays set a $100.00 price objective on shares of Ciena and gave the company an "overweight" rating in a report on Wednesday, March 12th. Northland Capmk raised shares of Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. B. Riley restated a "buy" rating and issued a $89.00 target price (down previously from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their target price on Ciena from $88.00 to $76.00 and set an "overweight" rating on the stock in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $77.62.

Insider Transactions at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $78.67, for a total transaction of $27,534.50. Following the completion of the transaction, the senior vice president now directly 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 document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of the firm's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $76.41, for a total value of $519,588.00. Following the sale, the chief executive officer now directly owns 398,549 shares of the company's stock, valued at approximately $30,453,129.09. This represents a 1.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 58,588 shares of company stock valued at $3,950,907 over the last quarter. Company insiders own 0.93% of the company's stock.

Ciena Trading Down 0.0%

CIEN stock traded down $0.04 during trading on Tuesday, reaching $80.95. 761,474 shares of the stock traded hands, compared to its average volume of 2,029,516. The business's 50 day moving average price is $65.70 and its 200-day moving average price is $74.82. Ciena Co. has a 52-week low of $44.69 and a 52-week high of $101.44. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72. The firm has a market capitalization of $11.51 billion, a PE ratio of 142.02, a P/E/G ratio of 1.54 and a beta of 1.11.

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.