Occudo Quantitative Strategies LP Acquires Shares of 12,016 Ciena Co. (NYSE:CIEN)

Occudo Quantitative Strategies LP bought a new stake in shares of Ciena Co. (NYSE:CIEN - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 12,016 shares of the communications equipment provider's stock, valued at approximately $1,019,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Ciena by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider's stock valued at $1,299,004,000 after acquiring an additional 139,941 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its position in shares of Ciena by 0.3% during the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 5,236,920 shares of the communications equipment provider's stock valued at $444,143,000 after acquiring an additional 17,447 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Ciena by 195.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 4,626,153 shares of the communications equipment provider's stock valued at $392,345,000 after acquiring an additional 3,062,883 shares in the last quarter. Bank of America Corp DE raised its position in shares of Ciena by 1.6% during the 4th quarter. Bank of America Corp DE now owns 3,227,020 shares of the communications equipment provider's stock valued at $273,684,000 after acquiring an additional 49,996 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Ciena by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 2,419,947 shares of the communications equipment provider's stock valued at $205,301,000 after acquiring an additional 11,933 shares in the last quarter. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

Ciena Stock Performance

Shares of NYSE:CIEN traded up $1.42 on Friday, hitting $81.22. The company's stock had a trading volume of 1,271,816 shares, compared to its average volume of 2,030,765. Ciena Co. has a 12 month low of $44.69 and a 12 month high of $101.44. The company has a market capitalization of $11.54 billion, a price-to-earnings ratio of 142.49, a price-to-earnings-growth ratio of 1.54 and a beta of 1.11. The stock's 50-day moving average is $65.40 and its two-hundred day moving average is $74.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on CIEN shares. Citigroup dropped their price target on Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. JPMorgan Chase & Co. dropped 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. Needham & Company LLC dropped their target price on Ciena from $95.00 to $90.00 and set a "buy" rating on the stock in a research report on Wednesday, March 12th. Morgan Stanley dropped their target price on 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, Northland Capmk raised Ciena from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, March 12th. 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 an average rating of "Moderate Buy" and a consensus price target of $77.62.

Insider Transactions at Ciena

In related news, SVP David M. Rothenstein sold 2,500 shares of the stock in a transaction on Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the completion of the transaction, the senior vice president now owns 207,370 shares in the company, valued at $14,283,645.60. This trade represents a 1.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $78.67, for a total value of $27,534.50. Following the completion of the transaction, the senior vice president now owns 46,233 shares of the company's stock, valued at $3,637,150.11. This trade represents a 0.75% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,138 shares of company stock valued at $3,439,211. 0.93% of the stock is currently owned by corporate 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.