Ciena (NYSE:CIEN) SVP Brodie Gage Sells 550 Shares

Ciena Corporation (NYSE:CIEN) SVP Brodie Gage sold 550 shares of the business’s stock in a transaction that occurred on Monday, December 15th. The stock was sold at an average price of $220.84, for a total transaction of $121,462.00. Following the completion of the sale, the senior vice president directly owned 39,992 shares of the company’s stock, valued at $8,831,833.28. This represents a 1.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Brodie Gage also recently made the following trade(s):

• On Monday, November 17th, Brodie Gage sold 111 shares of Ciena stock. The shares were sold at an average price of $190.80, for a total transaction of $21,178.80.
• On Wednesday, October 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $169.36, for a total transaction of $59,276.00.

Ciena Stock Down 2.7%

Shares of NYSE:CIEN traded down $5.76 on Tuesday, reaching $210.42. The company had a trading volume of 1,904,687 shares, compared to its average volume of 2,533,092. The stock has a 50-day moving average price of $189.69 and a 200 day moving average price of $130.11. The company has a quick ratio of 2.09, a current ratio of 2.73 and a debt-to-equity ratio of 0.56. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $248.00. The stock has a market capitalization of $29.68 billion, a P/E ratio of 247.84, a P/E/G ratio of 1.53 and a beta of 1.17.

Ciena (NYSE:CIEN) last posted its earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.15. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The firm had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.29 billion. During the same period in the previous year, the company earned $0.54 EPS. The company’s revenue for the quarter was up 20.1% on a year-over-year basis. On average, equities analysts expect that Ciena Corporation will post 1.6 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on CIEN shares. Raymond James Financial set a $240.00 target price on shares of Ciena in a research report on Thursday. Northland Securities set a $190.00 target price on Ciena and gave the company a “market perform” rating in a research note on Friday. Stifel Nicolaus set a $270.00 price target on Ciena in a research report on Thursday. Bank of America increased their price objective on Ciena from $200.00 to $260.00 and gave the company a “buy” rating in a research report on Friday. Finally, Barclays boosted their target price on shares of Ciena from $138.00 to $279.00 and gave the stock an “overweight” rating in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $236.38.

Institutional Investors Weigh In On Ciena

Large investors have recently made changes to their positions in the company. Allworth Financial LP boosted its position in shares of Ciena by 94.3% in the 3rd quarter. Allworth Financial LP now owns 1,395 shares of the communications equipment provider’s stock worth $203,000 after purchasing an additional 677 shares during the last quarter. IFP Advisors Inc raised its stake in Ciena by 93.1% during the 3rd quarter. IFP Advisors Inc now owns 977 shares of the communications equipment provider’s stock worth $145,000 after buying an additional 471 shares during the period. Swiss Life Asset Management Ltd lifted its holdings in Ciena by 80.2% during the third quarter. Swiss Life Asset Management Ltd now owns 6,635 shares of the communications equipment provider’s stock worth $967,000 after acquiring an additional 2,954 shares in the last quarter. WBI Investments LLC acquired a new position in Ciena in the third quarter valued at about $458,000. Finally, Wilmington Savings Fund Society FSB bought a new stake in shares of Ciena in the third quarter worth about $157,000. Institutional investors own 91.99% of the company’s stock.

Ciena Company 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.