Ciena Co. (NYSE:CIEN) Shares Bought by Signaturefd LLC

Signaturefd LLC raised its holdings in Ciena Co. (NYSE:CIEN) by 10.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 7,475 shares of the communications equipment provider’s stock after purchasing an additional 707 shares during the period. Signaturefd LLC’s holdings in Ciena were worth $634,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Versant Capital Management Inc raised its position in shares of Ciena by 925.0% in the 4th quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock valued at $28,000 after purchasing an additional 296 shares in the last quarter. Picton Mahoney Asset Management acquired a new stake in shares of Ciena during the 4th quarter valued at approximately $41,000. Parkside Financial Bank & Trust raised its position in shares of Ciena by 409.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 520 shares of the communications equipment provider’s stock valued at $44,000 after acquiring an additional 418 shares in the last quarter. Kieckhefer Group LLC acquired a new stake in shares of Ciena during the 4th quarter valued at approximately $59,000. Finally, UMB Bank n.a. raised its position in shares of Ciena by 59.2% during the 4th quarter. UMB Bank n.a. now owns 718 shares of the communications equipment provider’s stock valued at $61,000 after acquiring an additional 267 shares in the last quarter. 91.99% of the stock is owned by institutional investors and hedge funds.

Ciena Stock Performance

Shares of CIEN opened at $65.84 on Thursday. Ciena Co. has a 52-week low of $43.30 and a 52-week high of $101.44. The firm has a market capitalization of $9.36 billion, a PE ratio of 115.52, a P/E/G ratio of 1.54 and a beta of 0.91. The firm has a 50-day moving average price of $81.24 and a 200 day moving average price of $73.48. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and upped their price target for the company from $70.00 to $95.00 in a research report on Friday, December 13th. Rosenblatt Securities dropped their price target on Ciena from $94.00 to $79.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Northland Securities raised Ciena from a “market perform” rating to an “outperform” rating and upped their price target for the company from $60.00 to $75.00 in a research report on Wednesday, March 12th. B. Riley reaffirmed a “buy” rating and issued a $89.00 target price (down from $97.00) on shares of Ciena in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. raised Ciena from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $84.00 to $88.00 in a research report on Tuesday, January 28th. Four equities research 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, the company presently has an average rating of “Moderate Buy” and an average price target of $81.38.

Insider Activity

In other news, SVP Brodie Gage sold 350 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the sale, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. This represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Jason Phipps sold 5,648 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $84.64, for a total value of $478,046.72. Following the completion of the sale, the senior vice president now owns 109,878 shares of the company’s stock, valued at approximately $9,300,073.92. This trade represents a 4.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 66,742 shares of company stock worth $5,469,173 over the last three months. Corporate insiders own 0.93% of the company’s stock.

About Ciena

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.