Xponance Inc. Boosts Stake in Ciena Co. (NYSE:CIEN)

Xponance Inc. raised its position in shares of Ciena Co. (NYSE:CIEN) by 5.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,822 shares of the communications equipment provider’s stock after acquiring an additional 1,023 shares during the period. Xponance Inc.’s holdings in Ciena were worth $1,681,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Greenleaf Trust grew its position in Ciena by 2.8% during the fourth quarter. Greenleaf Trust now owns 4,978 shares of the communications equipment provider’s stock valued at $422,000 after acquiring an additional 136 shares during the period. US Bancorp DE grew its position in Ciena by 1.5% during the fourth quarter. US Bancorp DE now owns 10,459 shares of the communications equipment provider’s stock valued at $887,000 after acquiring an additional 152 shares during the period. Coldstream Capital Management Inc. grew its position in Ciena by 3.8% during the third quarter. Coldstream Capital Management Inc. now owns 4,742 shares of the communications equipment provider’s stock valued at $292,000 after acquiring an additional 175 shares during the period. CIBC Asset Management Inc grew its position in Ciena by 5.3% during the fourth quarter. CIBC Asset Management Inc now owns 4,469 shares of the communications equipment provider’s stock valued at $379,000 after acquiring an additional 226 shares during the period. Finally, QRG Capital Management Inc. grew its position in Ciena by 4.9% during the fourth quarter. QRG Capital Management Inc. now owns 4,914 shares of the communications equipment provider’s stock valued at $417,000 after acquiring an additional 228 shares during the period. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Insider Buying and Selling at Ciena

In other Ciena news, SVP Dino Diperna sold 2,682 shares of the company’s stock in a transaction that occurred on Thursday, December 26th. The stock was sold at an average price of $87.64, for a total transaction of $235,050.48. Following the sale, the senior vice president now owns 50,607 shares in the company, valued at $4,435,197.48. This represents a 5.03 % 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 Brodie Gage sold 350 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the sale, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. The trade was a 0.70 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 66,742 shares of company stock worth $5,469,173 over the last quarter. 0.93% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Barclays set a $100.00 price target on Ciena and gave the company an “overweight” rating in a research report on Wednesday, March 12th. Citigroup upped their target price on Ciena from $84.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, December 13th. Rosenblatt Securities decreased their target price on Ciena from $94.00 to $79.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. 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. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $82.00 target price (up previously from $75.00) on shares of Ciena in a research report on Tuesday, December 10th. Four 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 stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $81.38.

Ciena Trading Down 0.2 %

NYSE:CIEN opened at $65.47 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 2.72 and a current ratio of 3.55. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The business’s 50-day simple moving average is $80.57 and its 200 day simple moving average is $73.60. The stock has a market cap of $9.31 billion, a price-to-earnings ratio of 114.86, a price-to-earnings-growth ratio of 1.54 and a beta of 0.91.

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.