Schonfeld Strategic Advisors LLC Makes New $8.67 Million Investment in Ciena Co. (NYSE:CIEN)

Schonfeld Strategic Advisors LLC acquired a new stake in shares of Ciena Co. (NYSE:CIEN - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 102,260 shares of the communications equipment provider's stock, valued at approximately $8,673,000. Schonfeld Strategic Advisors LLC owned about 0.07% of Ciena at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of CIEN. Ritholtz Wealth Management acquired a new stake in shares of Ciena in the 4th quarter valued at $245,000. US Bancorp DE lifted its position in shares of Ciena by 1.5% in the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider's stock worth $887,000 after buying an additional 152 shares during the last quarter. Merit Financial Group LLC bought a new stake in shares of Ciena during the 4th quarter worth about $421,000. Oak Thistle LLC acquired a new position in shares of Ciena during the 4th quarter valued at about $755,000. Finally, Park Avenue Securities LLC raised its stake in shares of Ciena by 17.4% in the 4th quarter. Park Avenue Securities LLC now owns 38,350 shares of the communications equipment provider's stock valued at $3,252,000 after acquiring an additional 5,684 shares in the last quarter. Hedge funds and other institutional investors own 91.99% of the company's stock.

Ciena Price Performance

Shares of Ciena stock traded up $1.39 during trading on Friday, hitting $72.82. 1,854,202 shares of the company's stock traded hands, compared to its average volume of 2,026,203. Ciena Co. has a twelve month low of $44.69 and a twelve month 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 company has a market cap of $10.35 billion, a PE ratio of 127.76, a PEG ratio of 1.54 and a beta of 1.15. The firm's fifty day moving average price is $64.60 and its 200 day moving average price is $73.84.

Insider Activity

In other Ciena news, SVP Brodie Gage sold 350 shares of the company's stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $90.16, for a total transaction of $31,556.00. Following the sale, the senior vice president now directly owns 49,197 shares of the company's stock, valued at approximately $4,435,601.52. This represents a 0.71 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jason Phipps sold 18,888 shares of Ciena 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 owns 89,258 shares of the company's stock, valued at $5,344,769.04. This trade represents a 17.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 49,288 shares of company stock worth $3,299,980. Company insiders own 0.93% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on CIEN shares. Morgan Stanley decreased their target price on Ciena from $80.00 to $76.00 and set an "equal weight" rating for the company in a research report on Wednesday, March 12th. Northland Capmk upgraded shares of Ciena from a "hold" rating to a "strong-buy" rating in a research note on Wednesday, March 12th. B. Riley reissued a "buy" rating and set a $89.00 target price (down previously from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Northland Securities raised Ciena from a "market perform" rating to an "outperform" rating and raised their price target for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. cut their price objective on Ciena from $88.00 to $76.00 and set an "overweight" rating for the company in a research report on Thursday, April 17th. Four investment analysts have rated the stock with a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Ciena presently has an average rating of "Moderate Buy" and an average price target of $77.62.

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.