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Ciena Co. (NYSE:CIEN) CEO Gary B. Smith Sells 3,125 Shares

Last updated on Friday, April 30, 2021 | 2021 MarketBeat

Ciena Co. (NYSE:CIEN) CEO Gary B. Smith sold 3,125 shares of Ciena stock in a transaction on Wednesday, April 28th. The shares were sold at an average price of $52.14, for a total transaction of $162,937.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Gary B. Smith also recently made the following trade(s):

  • On Monday, April 12th, Gary B. Smith sold 3,125 shares of Ciena stock. The shares were sold at an average price of $56.17, for a total transaction of $175,531.25.
  • On Tuesday, March 23rd, Gary B. Smith sold 3,125 shares of Ciena stock. The shares were sold at an average price of $54.69, for a total transaction of $170,906.25.
  • On Monday, March 8th, Gary B. Smith sold 3,125 shares of Ciena stock. The shares were sold at an average price of $49.55, for a total transaction of $154,843.75.
  • On Friday, March 5th, Gary B. Smith sold 3,125 shares of Ciena stock. The shares were sold at an average price of $49.22, for a total transaction of $153,812.50.
  • On Wednesday, February 17th, Gary B. Smith sold 2,500 shares of Ciena stock. The shares were sold at an average price of $55.09, for a total transaction of $137,725.00.
  • On Thursday, February 4th, Gary B. Smith sold 2,500 shares of Ciena stock. The stock was sold at an average price of $54.93, for a total transaction of $137,325.00.

CIEN stock traded down $2.25 during midday trading on Friday, reaching $50.50. The company had a trading volume of 70,404 shares, compared to its average volume of 1,365,002. The company has a debt-to-equity ratio of 0.27, a current ratio of 3.43 and a quick ratio of 2.98. Ciena Co. has a 1 year low of $38.03 and a 1 year high of $61.51. The company has a market capitalization of $7.83 billion, a P/E ratio of 21.81, a P/E/G ratio of 1.41 and a beta of 0.85. The firm has a 50-day moving average price of $55.26 and a 200-day moving average price of $50.48.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Wednesday, March 3rd. The communications equipment provider reported $0.52 EPS for the quarter, topping the Zacks' consensus estimate of $0.45 by $0.07. Ciena had a net margin of 10.23% and a return on equity of 17.41%. The business had revenue of $757.10 million during the quarter, compared to analysts' expectations of $750.24 million. During the same quarter in the previous year, the company earned $0.52 EPS. The business's quarterly revenue was down 9.1% compared to the same quarter last year. On average, equities analysts predict that Ciena Co. will post 2.36 EPS for the current year.

Several institutional investors have recently made changes to their positions in the company. BlackRock Inc. boosted its stake in shares of Ciena by 8.9% in the 4th quarter. BlackRock Inc. now owns 14,792,049 shares of the communications equipment provider's stock valued at $781,761,000 after purchasing an additional 1,206,685 shares in the last quarter. Spring Creek Capital LLC boosted its position in Ciena by 364.0% during the 4th quarter. Spring Creek Capital LLC now owns 4,652,391 shares of the communications equipment provider's stock valued at $245,879,000 after buying an additional 3,649,669 shares during the period. Congress Asset Management Co. MA boosted its position in Ciena by 2.3% during the 4th quarter. Congress Asset Management Co. MA now owns 3,594,491 shares of the communications equipment provider's stock valued at $189,969,000 after buying an additional 81,911 shares during the period. UBS Asset Management Americas Inc. boosted its position in Ciena by 851.2% during the 4th quarter. UBS Asset Management Americas Inc. now owns 2,802,104 shares of the communications equipment provider's stock valued at $148,091,000 after buying an additional 2,507,510 shares during the period. Finally, Norges Bank purchased a new stake in Ciena during the 4th quarter valued at $135,287,000. 83.98% of the stock is owned by institutional investors.

Several research firms recently weighed in on CIEN. Citigroup boosted their price target on shares of Ciena from $55.00 to $65.00 in a report on Thursday, February 25th. Needham & Company LLC boosted their price target on shares of Ciena from $58.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, January 13th. Raymond James boosted their price target on shares of Ciena from $52.00 to $57.00 and gave the stock an "outperform" rating in a report on Thursday, March 4th. Zacks Investment Research upgraded shares of Ciena from a "sell" rating to a "hold" rating and set a $60.00 target price on the stock in a research note on Tuesday, February 16th. Finally, Colliers Securities reiterated a "buy" rating and issued a $58.00 target price on shares of Ciena in a research note on Friday, March 5th. Six analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The stock presently has an average rating of "Buy" and a consensus price target of $59.08.

About Ciena

Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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