Wells Fargo & Company MN Has $21.77 Million Stock Holdings in Ciena Co. (NYSE:CIEN)

Wells Fargo & Company MN decreased its position in shares of Ciena Co. (NYSE:CIEN) by 29.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 256,651 shares of the communications equipment provider’s stock after selling 104,945 shares during the period. Wells Fargo & Company MN owned 0.18% of Ciena worth $21,767,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Ciena by 108.6% during the 4th 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 last quarter. Versant Capital Management Inc grew its position in Ciena by 925.0% in the fourth quarter. Versant Capital Management Inc now owns 328 shares of the communications equipment provider’s stock worth $28,000 after acquiring an additional 296 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Ciena by 328.2% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 364 shares of the communications equipment provider’s stock worth $30,000 after purchasing an additional 279 shares during the last quarter. Atlas Capital Advisors Inc. raised its holdings in shares of Ciena by 77.2% during the 4th quarter. Atlas Capital Advisors Inc. now owns 420 shares of the communications equipment provider’s stock valued at $36,000 after purchasing an additional 183 shares in the last quarter. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Ciena in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 91.99% of the company’s stock.

Ciena Stock Up 0.6 %

Shares of CIEN opened at $58.70 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. The company has a 50-day simple moving average of $71.84 and a 200-day simple moving average of $74.02. 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 $8.34 billion, a P/E ratio of 102.99, a P/E/G ratio of 1.54 and a beta of 1.15.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Needham & Company LLC reduced their price target on Ciena from $95.00 to $90.00 and set a “buy” rating for the company in a research report on Wednesday, March 12th. 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. JPMorgan Chase & Co. raised shares of Ciena from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $84.00 to $88.00 in a research report on Tuesday, January 28th. Northland Securities upgraded shares of Ciena from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $60.00 to $75.00 in a research note on Wednesday, March 12th. Finally, Barclays set a $100.00 target price on shares of Ciena and gave the company an “overweight” rating in a research note on Wednesday, March 12th. Four equities research analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, Ciena currently has an average rating of “Moderate Buy” and an average target price of $81.38.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total transaction of $30,068.50. Following the completion of the transaction, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. This trade represents a 0.70 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gary B. Smith sold 6,800 shares of the company’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.29, for a total value of $579,972.00. Following the completion of the sale, the chief executive officer now owns 418,949 shares in the company, valued at approximately $35,732,160.21. This represents a 1.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 49,288 shares of company stock worth $3,484,670 over the last three months. Company insiders own 0.93% of the company’s stock.

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.