Insider Selling: Ciena Co. (NYSE:CIEN) SVP Sells 1,000 Shares of Stock

Ciena Co. (NYSE:CIEN) SVP Scott Mcfeely sold 1,000 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $41.11, for a total transaction of $41,110.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Shares of NYSE CIEN traded up $1.18 on Monday, hitting $42.25. The company’s stock had a trading volume of 75,004 shares, compared to its average volume of 1,908,806. Ciena Co. has a 12-month low of $26.21 and a 12-month high of $46.78. The company has a market capitalization of $6.54 billion, a price-to-earnings ratio of 37.73, a price-to-earnings-growth ratio of 1.33 and a beta of 1.11. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.83 and a quick ratio of 2.36. The stock has a 50 day moving average of $43.43 and a 200-day moving average of $40.05.

Ciena (NYSE:CIEN) last announced its quarterly earnings results on Thursday, June 6th. The communications equipment provider reported $0.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.41 by $0.07. Ciena had a net margin of 5.98% and a return on equity of 12.37%. The company had revenue of $865.00 million for the quarter, compared to the consensus estimate of $818.23 million. During the same quarter in the prior year, the firm earned $0.23 earnings per share. The company’s revenue for the quarter was up 18.5% compared to the same quarter last year. Sell-side analysts expect that Ciena Co. will post 1.74 EPS for the current fiscal year.

Several hedge funds and other institutional investors have recently made changes to their positions in CIEN. Magnetar Financial LLC increased its position in Ciena by 10.8% during the second quarter. Magnetar Financial LLC now owns 25,736 shares of the communications equipment provider’s stock worth $1,059,000 after purchasing an additional 2,519 shares during the last quarter. Verition Fund Management LLC increased its position in Ciena by 886.9% during the second quarter. Verition Fund Management LLC now owns 91,574 shares of the communications equipment provider’s stock worth $3,766,000 after purchasing an additional 82,295 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in Ciena by 121.8% during the second quarter. Ladenburg Thalmann Financial Services Inc. now owns 11,091 shares of the communications equipment provider’s stock worth $457,000 after purchasing an additional 6,091 shares during the last quarter. Voloridge Investment Management LLC increased its position in Ciena by 1,275.1% during the second quarter. Voloridge Investment Management LLC now owns 183,320 shares of the communications equipment provider’s stock worth $7,540,000 after purchasing an additional 169,989 shares during the last quarter. Finally, Zacks Investment Management increased its position in Ciena by 31.3% during the second quarter. Zacks Investment Management now owns 391,105 shares of the communications equipment provider’s stock worth $16,086,000 after purchasing an additional 93,174 shares during the last quarter. 88.05% of the stock is currently owned by institutional investors.

Several brokerages have weighed in on CIEN. Nomura upped their target price on shares of Ciena from $50.00 to $52.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Stifel Nicolaus upped their target price on shares of Ciena from $46.00 to $54.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Barclays began coverage on shares of Ciena in a research report on Wednesday, August 7th. They set an “overweight” rating and a $50.00 target price on the stock. TheStreet upgraded shares of Ciena from a “c+” rating to a “b” rating in a research report on Tuesday, June 25th. Finally, Zacks Investment Research upgraded shares of Ciena from a “hold” rating to a “strong-buy” rating and set a $42.00 target price on the stock in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $46.79.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, 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 solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

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Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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