Ciena Co. (NYSE:CIEN) SVP David M. Rothenstein Sells 3,500 Shares

Ciena Co. (NYSE:CIEN – Get Rating) SVP David M. Rothenstein sold 3,500 shares of the stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $49.82, for a total value of $174,370.00. Following the completion of the sale, the senior vice president now owns 249,668 shares in the company, valued at $12,438,459.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Ciena Stock Down 2.8 %

NYSE CIEN traded down $1.44 during midday trading on Friday, hitting $49.44. 2,127,182 shares of the company traded hands, compared to its average volume of 1,654,311. The company has a debt-to-equity ratio of 0.55, a current ratio of 3.70 and a quick ratio of 2.54. The company has a market cap of $7.37 billion, a PE ratio of 40.52, a price-to-earnings-growth ratio of 1.69 and a beta of 0.97. The company’s 50-day simple moving average is $49.84 and its 200-day simple moving average is $46.66. Ciena Co. has a 52 week low of $38.33 and a 52 week high of $61.97.

Ciena (NYSE:CIEN – Get Rating) last posted its quarterly earnings data on Monday, March 6th. The communications equipment provider reported $0.64 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.28. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $959.04 million. Ciena had a return on equity of 8.22% and a net margin of 4.77%. The business’s quarterly revenue was up 25.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.35 EPS. As a group, equities research analysts forecast that Ciena Co. will post 2 earnings per share for the current year.

Analyst Ratings Changes

CIEN has been the topic of several recent analyst reports. Cowen increased their price target on Ciena from $71.00 to $76.00 in a report on Friday, December 9th. Cowen raised their price objective on Ciena from $71.00 to $76.00 in a report on Friday, December 9th. Citigroup raised their price objective on Ciena from $55.00 to $65.00 in a report on Friday, December 9th. B. Riley raised their price objective on Ciena from $69.00 to $72.00 and gave the stock a “buy” rating in a report on Tuesday, March 7th. Finally, Raymond James raised their price objective on Ciena from $57.00 to $58.00 and gave the stock an “outperform” rating in a report on Tuesday, March 7th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $64.00.

Institutional Trading of Ciena

A number of institutional investors have recently made changes to their positions in CIEN. Raymond James Financial Services Advisors Inc. boosted its position in shares of Ciena by 0.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 28,651 shares of the communications equipment provider’s stock worth $1,737,000 after purchasing an additional 252 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Ciena by 11.0% in the 1st quarter. American Century Companies Inc. now owns 17,204 shares of the communications equipment provider’s stock worth $1,043,000 after purchasing an additional 1,708 shares in the last quarter. Bank of Montreal Can boosted its position in shares of Ciena by 0.6% in the 1st quarter. Bank of Montreal Can now owns 36,296 shares of the communications equipment provider’s stock worth $2,227,000 after purchasing an additional 220 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Ciena by 2.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,753,752 shares of the communications equipment provider’s stock worth $106,335,000 after acquiring an additional 41,815 shares during the last quarter. Finally, Vontobel Holding Ltd. raised its stake in Ciena by 40.6% in the 1st quarter. Vontobel Holding Ltd. now owns 19,106 shares of the communications equipment provider’s stock worth $1,172,000 after acquiring an additional 5,516 shares during the last quarter. Institutional investors and hedge funds own 96.26% of the company’s stock.

Ciena Company Profile

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Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.