Atria Investments Inc Purchases 2,843 Shares of Ciena Corporation $CIEN

Atria Investments Inc boosted its stake in Ciena Corporation (NYSE:CIEN) by 10.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,876 shares of the communications equipment provider’s stock after acquiring an additional 2,843 shares during the quarter. Atria Investments Inc’s holdings in Ciena were worth $6,987,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. MassMutual Private Wealth & Trust FSB lifted its position in Ciena by 9.7% in the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 710 shares of the communications equipment provider’s stock valued at $166,000 after acquiring an additional 63 shares in the last quarter. Assetmark Inc. lifted its position in Ciena by 50.4% in the 3rd quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after acquiring an additional 67 shares in the last quarter. Legacy Financial Advisors Inc. lifted its position in Ciena by 5.4% in the 4th quarter. Legacy Financial Advisors Inc. now owns 1,549 shares of the communications equipment provider’s stock valued at $362,000 after acquiring an additional 79 shares in the last quarter. Coldstream Capital Management Inc. raised its stake in shares of Ciena by 1.7% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,772 shares of the communications equipment provider’s stock worth $695,000 after purchasing an additional 79 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its position in Ciena by 1.3% during the third quarter. Nisa Investment Advisors LLC now owns 6,475 shares of the communications equipment provider’s stock worth $943,000 after buying an additional 80 shares during the last quarter. 91.99% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have weighed in on CIEN shares. Raymond James Financial reissued an “outperform” rating and set a $320.00 price target on shares of Ciena in a research report on Thursday, March 5th. Bank of America boosted their price target on Ciena from $355.00 to $550.00 and gave the stock a “buy” rating in a research report on Thursday, April 16th. UBS Group boosted their price target on Ciena from $230.00 to $285.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Zacks Research raised Ciena from a “hold” rating to a “strong-buy” rating in a research report on Friday, March 13th. Finally, Barclays boosted their price target on Ciena from $279.00 to $372.00 and gave the stock an “overweight” rating in a research report on Friday, March 6th. One analyst has rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Ciena currently has a consensus rating of “Moderate Buy” and an average price target of $381.44.

Insider Transactions at Ciena

In other Ciena news, SVP Brodie Gage sold 1,200 shares of the firm’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $471.79, for a total value of $566,148.00. Following the completion of the sale, the senior vice president directly owned 45,141 shares in the company, valued at approximately $21,297,072.39. This trade represents a 2.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Gary B. Smith sold 2,952 shares of the firm’s stock in a transaction on Friday, May 1st. The stock was sold at an average price of $537.74, for a total transaction of $1,587,408.48. Following the completion of the sale, the chief executive officer owned 275,461 shares of the company’s stock, valued at $148,126,398.14. The trade was a 1.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 42,974 shares of company stock worth $17,418,863 over the last three months. 0.58% of the stock is owned by company insiders.

Ciena Price Performance

Shares of NYSE:CIEN opened at $554.26 on Friday. The company has a market cap of $78.37 billion, a price-to-earnings ratio of 353.04, a PEG ratio of 1.94 and a beta of 1.24. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.81 and a quick ratio of 2.14. The firm has a 50 day simple moving average of $454.25 and a 200 day simple moving average of $315.14. Ciena Corporation has a one year low of $70.77 and a one year high of $598.84.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, March 5th. The communications equipment provider reported $1.35 EPS for the quarter, beating the consensus estimate of $1.17 by $0.18. The business had revenue of $1.43 billion during the quarter, compared to the consensus estimate of $1.40 billion. Ciena had a net margin of 4.47% and a return on equity of 12.09%. The firm’s revenue was up 33.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.64 EPS. Research analysts predict that Ciena Corporation will post 5.12 earnings per share for the current fiscal year.

About Ciena

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.