Ciena Corporation (NYSE:CIEN) CEO Gary B. Smith sold 8,000 shares of Ciena Corporation stock in a transaction that occurred on Friday, August 11th. The stock was sold at an average price of $24.20, for a total value of $193,600.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

Gary B. Smith also recently made the following trade(s):

  • On Wednesday, July 26th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The stock was sold at an average price of $26.25, for a total value of $105,000.00.
  • On Thursday, July 27th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The stock was sold at an average price of $26.07, for a total value of $208,560.00.
  • On Monday, July 10th, Gary B. Smith sold 4,000 shares of Ciena Corporation stock. The stock was sold at an average price of $25.84, for a total value of $103,360.00.
  • On Tuesday, July 11th, Gary B. Smith sold 8,000 shares of Ciena Corporation stock. The stock was sold at an average price of $25.87, for a total value of $206,960.00.
  • On Wednesday, June 21st, Gary B. Smith sold 12,558 shares of Ciena Corporation stock. The stock was sold at an average price of $25.31, for a total value of $317,842.98.

Ciena Corporation (NYSE:CIEN) traded up 2.11% on Monday, reaching $24.68. The company had a trading volume of 1,959,074 shares. The firm has a 50-day moving average of $25.53 and a 200-day moving average of $24.50. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The stock has a market capitalization of $3.50 billion, a P/E ratio of 32.60 and a beta of 1.61.

Ciena Corporation (NYSE:CIEN) last released its quarterly earnings data on Thursday, June 1st. The communications equipment provider reported $0.45 EPS for the quarter, beating the consensus estimate of $0.37 by $0.08. Ciena Corporation had a return on equity of 25.56% and a net margin of 4.13%. The company had revenue of $707.02 million for the quarter, compared to analyst estimates of $694.84 million. During the same period last year, the company posted $0.34 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts expect that Ciena Corporation will post $1.77 earnings per share for the current fiscal year.

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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Swiss National Bank raised its position in Ciena Corporation by 1.1% in the first quarter. Swiss National Bank now owns 229,700 shares of the communications equipment provider’s stock valued at $5,423,000 after buying an additional 2,600 shares during the period. Vanguard Group Inc. raised its position in Ciena Corporation by 11.2% in the first quarter. Vanguard Group Inc. now owns 12,263,170 shares of the communications equipment provider’s stock valued at $289,534,000 after buying an additional 1,235,744 shares during the period. Legal & General Group Plc raised its position in Ciena Corporation by 31.4% in the first quarter. Legal & General Group Plc now owns 91,386 shares of the communications equipment provider’s stock valued at $2,159,000 after buying an additional 21,834 shares during the period. Shell Asset Management Co. bought a new position in Ciena Corporation during the first quarter valued at approximately $540,000. Finally, Principal Financial Group Inc. raised its position in Ciena Corporation by 4.0% in the first quarter. Principal Financial Group Inc. now owns 582,192 shares of the communications equipment provider’s stock valued at $13,746,000 after buying an additional 22,409 shares during the period.

A number of brokerages recently commented on CIEN. B. Riley reiterated a “buy” rating and set a $34.25 price objective on shares of Ciena Corporation in a research report on Tuesday, May 30th. UBS AG reiterated a “buy” rating and set a $31.00 price objective (up previously from $29.00) on shares of Ciena Corporation in a research report on Monday, June 5th. ValuEngine upgraded Ciena Corporation from a “hold” rating to a “buy” rating in a research report on Thursday, July 6th. Stifel Nicolaus reiterated a “buy” rating and set a $32.00 price objective on shares of Ciena Corporation in a research report on Friday, July 21st. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $32.50 price objective (up previously from $29.00) on shares of Ciena Corporation in a research report on Friday, June 2nd. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company. Ciena Corporation presently has an average rating of “Buy” and an average target price of $30.19.

About Ciena Corporation

Ciena Corporation is a network strategy and technology company, which provides solutions that enable a range of network operators to adopt communication architectures and deliver an array of services, relied upon by enterprise and consumer end users. It provides equipment, software and services that support the transport, switching, aggregation, service delivery and management of voice, video and data traffic on communications networks.

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

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