Ciena Co. (NYSE:CIEN) Director Patrick H. Nettles sold 20,000 shares of the company’s stock in a transaction on Monday, July 27th. The shares were sold at an average price of $58.61, for a total transaction of $1,172,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Patrick H. Nettles also recently made the following trade(s):

  • On Monday, July 20th, Patrick H. Nettles sold 20,000 shares of Ciena stock. The shares were sold at an average price of $54.16, for a total transaction of $1,083,200.00.
  • On Monday, July 13th, Patrick H. Nettles sold 20,000 shares of Ciena stock. The shares were sold at an average price of $54.66, for a total transaction of $1,093,200.00.
  • On Friday, July 10th, Patrick H. Nettles sold 20,000 shares of Ciena stock. The shares were sold at an average price of $54.74, for a total transaction of $1,094,800.00.

NYSE:CIEN opened at $59.51 on Friday. The stock’s fifty day moving average is $54.50 and its 200 day moving average is $47.00. Ciena Co. has a fifty-two week low of $30.58 and a fifty-two week high of $59.82. The firm has a market capitalization of $9.13 billion, a PE ratio of 29.03, a PEG ratio of 1.43 and a beta of 0.89. The company has a debt-to-equity ratio of 0.30, a quick ratio of 2.83 and a current ratio of 3.28.

Ciena (NYSE:CIEN) last released its quarterly earnings results on Thursday, June 4th. The communications equipment provider reported $0.76 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.49 by $0.27. Ciena had a return on equity of 16.18% and a net margin of 8.78%. The company had revenue of $894.00 million for the quarter, compared to analyst estimates of $889.42 million. During the same quarter in the prior year, the firm posted $0.48 EPS. Ciena’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities analysts forecast that Ciena Co. will post 2.6 EPS for the current year.

Large investors have recently added to or reduced their stakes in the stock. West Oak Capital LLC purchased a new stake in Ciena during the 2nd quarter valued at $41,000. Meeder Asset Management Inc. increased its stake in Ciena by 2,121.1% in the first quarter. Meeder Asset Management Inc. now owns 1,266 shares of the communications equipment provider’s stock worth $51,000 after purchasing an additional 1,209 shares during the period. Patriot Financial Group Insurance Agency LLC purchased a new stake in Ciena in the first quarter worth $76,000. Prime Capital Investment Advisors LLC increased its stake in Ciena by 2,457.7% in the second quarter. Prime Capital Investment Advisors LLC now owns 1,816 shares of the communications equipment provider’s stock worth $98,000 after purchasing an additional 1,745 shares during the period. Finally, Tobam increased its stake in Ciena by 15.8% in the first quarter. Tobam now owns 2,508 shares of the communications equipment provider’s stock worth $100,000 after purchasing an additional 342 shares during the period. Institutional investors own 88.44% of the company’s stock.

A number of equities research analysts have recently commented on CIEN shares. Stifel Nicolaus upped their price objective on shares of Ciena from $54.00 to $61.00 and gave the company a “buy” rating in a research note on Friday, June 5th. MKM Partners upped their price objective on shares of Ciena from $54.00 to $62.00 and gave the company a “buy” rating in a research note on Friday, May 22nd. Morgan Stanley increased their target price on shares of Ciena from $47.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Needham & Company LLC raised shares of Ciena from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a research note on Tuesday, July 21st. Finally, Wolfe Research assumed coverage on shares of Ciena in a report on Friday, July 24th. They set an “outperform” rating on the stock. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $56.71.

Ciena Company Profile

Ciena Corporation provides network hardware, software, and services that support the transport, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking solutions optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

Recommended Story: What’s a Black Swan?

Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

Receive News & Ratings for Ciena Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena and related companies with MarketBeat.com's FREE daily email newsletter.