John G Ullman & Associates Inc. Sells 4,100 Shares of Ciena Corporation $CIEN

John G Ullman & Associates Inc. lessened its stake in shares of Ciena Corporation (NYSE:CIEN) by 24.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,400 shares of the communications equipment provider’s stock after selling 4,100 shares during the period. John G Ullman & Associates Inc.’s holdings in Ciena were worth $4,814,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Elyxium Wealth LLC purchased a new position in Ciena during the fourth quarter worth $2,747,810,000. State Street Corp raised its stake in shares of Ciena by 17.2% in the fourth quarter. State Street Corp now owns 5,102,409 shares of the communications equipment provider’s stock valued at $1,193,300,000 after acquiring an additional 750,128 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Ciena by 53.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,051,625 shares of the communications equipment provider’s stock valued at $947,554,000 after acquiring an additional 1,404,132 shares during the period. Bank of America Corp DE lifted its holdings in shares of Ciena by 10.4% in the 2nd quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock worth $284,313,000 after acquiring an additional 329,821 shares during the last quarter. Finally, Corient Private Wealth LLC lifted its holdings in shares of Ciena by 30,114.5% in the 4th quarter. Corient Private Wealth LLC now owns 2,870,677 shares of the communications equipment provider’s stock worth $671,365,000 after acquiring an additional 2,861,176 shares during the last quarter. 91.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Ciena

In related news, SVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $570.65, for a total value of $684,780.00. Following the completion of the sale, the senior vice president owned 43,941 shares in the company, valued at approximately $25,074,931.65. The trade was a 2.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Marc D. Graff sold 126 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $58,741.20. Following the completion of the transaction, the chief financial officer directly owned 126,955 shares in the company, valued at approximately $59,186,421. This trade represents a 0.10% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 21,627 shares of company stock valued at $10,974,985. 0.58% of the stock is owned by corporate insiders.

Ciena Trading Down 3.9%

NYSE CIEN opened at $373.72 on Friday. The stock has a market cap of $52.90 billion, a PE ratio of 124.57 and a beta of 1.27. Ciena Corporation has a 12 month low of $83.20 and a 12 month high of $637.51. The company’s 50-day moving average price is $495.15 and its 200-day moving average price is $403.75. The company has a current ratio of 2.73, a quick ratio of 2.11 and a debt-to-equity ratio of 0.53.

Ciena (NYSE:CIEN) last announced its quarterly earnings data on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.18. The company had revenue of $1.57 billion during the quarter, compared to analyst estimates of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. The firm’s revenue for the quarter was up 39.5% on a year-over-year basis. During the same quarter last year, the business posted $0.42 EPS. Equities research analysts forecast that Ciena Corporation will post 5.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

CIEN has been the topic of several analyst reports. Rosenblatt Securities upped their price target on shares of Ciena from $350.00 to $720.00 and gave the company a “buy” rating in a report on Friday, June 5th. Raymond James Financial raised their price objective on shares of Ciena from $320.00 to $530.00 and gave the stock an “outperform” rating in a research note on Thursday, June 4th. UBS Group boosted their target price on Ciena from $285.00 to $508.00 and gave the company a “neutral” rating in a research report on Friday, June 5th. Weiss Ratings cut Ciena from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, July 7th. Finally, Zacks Research upgraded Ciena from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 2nd. One research analyst has rated the stock with a Strong Buy rating, twelve have issued a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $530.56.

Ciena Company Profile

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.