Deutsche Bank AG Reduces Stake in Ciena Co. (NYSE:CIEN)

Deutsche Bank AG lowered its stake in Ciena Co. (NYSE:CIENGet Rating) by 66.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 667,429 shares of the communications equipment provider’s stock after selling 1,340,271 shares during the period. Deutsche Bank AG owned approximately 0.45% of Ciena worth $30,503,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. SeaCrest Wealth Management LLC bought a new stake in Ciena in the second quarter worth about $32,000. IndexIQ Advisors LLC bought a new stake in Ciena in the first quarter worth about $41,000. Archer Investment Corp raised its stake in shares of Ciena by 5,312.5% during the first quarter. Archer Investment Corp now owns 866 shares of the communications equipment provider’s stock valued at $52,000 after acquiring an additional 850 shares in the last quarter. Prospera Financial Services Inc bought a new stake in shares of Ciena during the first quarter valued at approximately $72,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Ciena by 236.7% during the second quarter. EverSource Wealth Advisors LLC now owns 1,808 shares of the communications equipment provider’s stock valued at $83,000 after acquiring an additional 1,271 shares in the last quarter. Hedge funds and other institutional investors own 90.64% of the company’s stock.

Analyst Ratings Changes

CIEN has been the subject of several research analyst reports. JPMorgan Chase & Co. downgraded shares of Ciena from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $62.00 to $45.00 in a research note on Tuesday, September 6th. Needham & Company LLC decreased their price target on shares of Ciena from $88.00 to $70.00 and set a “buy” rating for the company in a research note on Friday, September 2nd. Barclays decreased their price target on shares of Ciena from $70.00 to $55.00 in a research note on Friday, September 2nd. StockNews.com initiated coverage on shares of Ciena in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Finally, Rosenblatt Securities cut their price objective on shares of Ciena from $70.00 to $65.00 and set a “buy” rating on the stock in a report on Friday, September 2nd. Four research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $64.74.

Insider Activity at Ciena

In related news, CEO Gary B. Smith sold 3,542 shares of the business’s stock in a transaction on Wednesday, November 2nd. The shares were sold at an average price of $47.05, for a total transaction of $166,651.10. Following the completion of the transaction, the chief executive officer now directly owns 387,040 shares in the company, valued at $18,210,232. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Ciena news, VP David M. Rothenstein sold 3,500 shares of the company’s stock in a transaction dated Tuesday, November 15th. The shares were sold at an average price of $45.00, for a total value of $157,500.00. Following the completion of the transaction, the vice president now owns 231,610 shares in the company, valued at $10,422,450. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Gary B. Smith sold 3,542 shares of the company’s stock in a transaction dated Wednesday, November 2nd. The stock was sold at an average price of $47.05, for a total transaction of $166,651.10. Following the completion of the transaction, the chief executive officer now owns 387,040 shares of the company’s stock, valued at approximately $18,210,232. The disclosure for this sale can be found here. Insiders sold 36,208 shares of company stock worth $1,549,651 over the last three months. Company insiders own 0.94% of the company’s stock.

Ciena Price Performance

Shares of CIEN opened at $44.05 on Friday. The firm has a market capitalization of $6.53 billion, a PE ratio of 34.69, a price-to-earnings-growth ratio of 1.45 and a beta of 1.03. The company has a debt-to-equity ratio of 0.40, a current ratio of 3.48 and a quick ratio of 2.58. Ciena Co. has a 1-year low of $38.33 and a 1-year high of $78.28. The company’s fifty day moving average price is $42.94 and its 200-day moving average price is $46.84.

Ciena (NYSE:CIENGet Rating) last announced its quarterly earnings data on Thursday, September 1st. The communications equipment provider reported $0.18 earnings per share for the quarter, missing analysts’ consensus estimates of $0.21 by ($0.03). The company had revenue of $867.30 million for the quarter, compared to analysts’ expectations of $903.95 million. Ciena had a net margin of 5.37% and a return on equity of 8.91%. Ciena’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period last year, the firm earned $0.81 earnings per share. On average, equities research analysts predict that Ciena Co. will post 0.83 EPS for the current year.

About Ciena

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Ciena Corporation provides network hardware, software, and services that support the transport, routing, 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 products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching.

See Also

Institutional Ownership by Quarter for Ciena (NYSE:CIEN)

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