David M. Rothenstein Sells 2,500 Shares of Ciena Co. (NYSE:CIEN) Stock

Ciena Co. (NYSE:CIEN) SVP David M. Rothenstein sold 2,500 shares of the stock in a transaction dated Monday, March 24th. The stock was sold at an average price of $68.88, for a total value of $172,200.00. Following the sale, the senior vice president now owns 207,370 shares of the company’s stock, valued at $14,283,645.60. This represents a 1.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Ciena Stock Performance

NYSE CIEN opened at $62.75 on Friday. The business’s 50 day moving average price is $79.21 and its 200-day moving average price is $73.85. Ciena Co. has a fifty-two week low of $43.30 and a fifty-two week high of $101.44. The company has a market cap of $8.92 billion, a P/E ratio of 110.08, a P/E/G ratio of 1.54 and a beta of 0.91. 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

A number of brokerages have issued reports on CIEN. Needham & Company LLC cut their price objective 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. Citigroup raised their target price on shares of Ciena from $84.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, December 13th. B. Riley reiterated a “buy” rating and issued a $89.00 price target (down previously from $97.00) on shares of Ciena in a research note on Wednesday, March 12th. Northland Securities upgraded Ciena from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. Finally, Rosenblatt Securities decreased their target price on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Four equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $81.38.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of Ciena by 108.6% during the fourth quarter. Annis Gardner Whiting Capital Advisors LLC now owns 290 shares of the communications equipment provider’s stock valued at $25,000 after buying an additional 151 shares during the period. Versant Capital Management Inc boosted its holdings in Ciena by 925.0% during the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock valued at $28,000 after acquiring an additional 296 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Ciena by 328.2% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock valued at $30,000 after acquiring an additional 279 shares during the last quarter. Bessemer Group Inc. increased its stake in 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 purchasing an additional 151 shares during the period. Finally, Atlas Capital Advisors Inc. lifted its position in shares of Ciena by 77.2% during the fourth quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock worth $36,000 after purchasing an additional 183 shares during the last quarter. Institutional investors own 91.99% of the company’s stock.

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.