66,081 Shares in Ciena Co. (NYSE:CIEN) Bought by Raiffeisen Bank International AG

Raiffeisen Bank International AG acquired a new stake in shares of Ciena Co. (NYSE:CIEN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 66,081 shares of the communications equipment provider's stock, valued at approximately $5,618,000.

Several other large investors also recently made changes to their positions in CIEN. Annis Gardner Whiting Capital Advisors LLC boosted its holdings 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 buying an additional 151 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Ciena by 328.2% in 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 during the period. Bessemer Group Inc. boosted its holdings in shares of Ciena by 73.7% in 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 during the period. Atlas Capital Advisors Inc. boosted its holdings 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 worth $36,000 after buying an additional 183 shares during the period. Finally, Picton Mahoney Asset Management acquired a new position in shares of Ciena in the fourth quarter worth about $41,000. Institutional investors own 91.99% of the company's stock.

Insider Buying and Selling at Ciena

In other news, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $79.89, for a total value of $543,252.00. Following the transaction, the chief executive officer now owns 362,080 shares of the company's stock, valued at $28,926,571.20. This trade represents a 1.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP David M. Rothenstein sold 2,500 shares of Ciena stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $79.93, for a total transaction of $199,825.00. Following the completion of the transaction, the senior vice president now directly owns 202,370 shares in the company, valued at approximately $16,175,434.10. This represents a 1.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 58,938 shares of company stock worth $3,982,463 over the last ninety days. 0.93% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on CIEN. Needham & Company LLC decreased their target price on shares of Ciena from $95.00 to $90.00 and set a "buy" rating for the company in a report on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a "hold" rating to a "strong-buy" rating in a report on Wednesday, March 12th. Rosenblatt Securities decreased their target price on shares of Ciena from $73.00 to $65.00 and set a "neutral" rating for the company in a report on Tuesday, April 22nd. B. Riley restated a "buy" rating and set a $89.00 price target (down from $97.00) on shares of Ciena in a report on Wednesday, March 12th. Finally, Citigroup lowered their price objective on shares of Ciena from $98.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Four investment analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $77.62.

Ciena Stock Down 0.3%

NYSE CIEN traded down $0.23 during trading on Monday, reaching $81.01. The company's stock had a trading volume of 761,832 shares, compared to its average volume of 2,030,396. 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 stock has a market capitalization of $11.52 billion, a PE ratio of 142.13, a PEG ratio of 1.54 and a beta of 1.11. The business has a 50-day moving average price of $65.40 and a 200-day moving average price of $74.70. Ciena Co. has a 1-year low of $44.69 and a 1-year high of $101.44.

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.