Evelyn Partners Investment Management LLP Has $81,000 Position in Ciena Corporation $CIEN

Evelyn Partners Investment Management LLP decreased its holdings in Ciena Corporation (NYSE:CIEN) by 78.9% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,025 shares of the communications equipment provider’s stock after selling 3,825 shares during the quarter. Evelyn Partners Investment Management LLP’s holdings in Ciena were worth $81,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in CIEN. Nuveen LLC bought a new stake in Ciena in the first quarter valued at about $70,065,000. Vaughan Nelson Investment Management L.P. boosted its holdings in Ciena by 375.4% during the second quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock valued at $100,499,000 after purchasing an additional 975,792 shares in the last quarter. Woodline Partners LP acquired a new stake in Ciena during the first quarter valued at approximately $49,221,000. Assenagon Asset Management S.A. grew its stake in shares of Ciena by 1,883.5% in the 2nd quarter. Assenagon Asset Management S.A. now owns 787,266 shares of the communications equipment provider’s stock valued at $64,028,000 after purchasing an additional 747,576 shares during the period. Finally, William Blair Investment Management LLC raised its holdings in shares of Ciena by 35.0% in the 2nd quarter. William Blair Investment Management LLC now owns 2,708,540 shares of the communications equipment provider’s stock worth $220,286,000 after buying an additional 702,909 shares in the last quarter. 91.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently commented on CIEN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Ciena in a research note on Wednesday, October 8th. BNP Paribas Exane upgraded shares of Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 target price on the stock in a research note on Monday, October 13th. Evercore ISI upped their target price on shares of Ciena from $120.00 to $200.00 and gave the stock an “in-line” rating in a report on Monday, November 10th. Bank of America lifted their price target on shares of Ciena from $135.00 to $155.00 and gave the company a “buy” rating in a report on Wednesday, September 17th. Finally, Needham & Company LLC boosted their price target on shares of Ciena from $90.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Strong Buy rating, eleven have given a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $153.20.

Insider Activity at Ciena

In other Ciena news, SVP Brodie Gage sold 350 shares of the stock in a transaction on Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total value of $59,276.00. Following the transaction, the senior vice president directly owned 40,653 shares in the company, valued at approximately $6,884,992.08. This trade represents a 0.85% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Gary B. Smith sold 6,800 shares of Ciena stock in a transaction on Monday, November 10th. The shares were sold at an average price of $209.45, for a total value of $1,424,260.00. Following the completion of the sale, the chief executive officer directly owned 261,670 shares of the company’s stock, valued at $54,806,781.50. This trade represents a 2.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 51,935 shares of company stock valued at $8,029,442 over the last three months. 0.93% of the stock is owned by company insiders.

Ciena Stock Performance

Ciena stock opened at $178.11 on Friday. The stock has a 50-day simple moving average of $168.98 and a 200 day simple moving average of $115.45. The stock has a market capitalization of $25.12 billion, a price-to-earnings ratio of 183.62, a P/E/G ratio of 2.62 and a beta of 1.17. The company has a quick ratio of 2.52, a current ratio of 3.28 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 12-month low of $49.21 and a 12-month high of $214.17.

Ciena (NYSE:CIEN) last issued its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 EPS for the quarter. The firm had revenue of $844.44 million for the quarter. Ciena had a net margin of 3.10% and a return on equity of 6.62%. On average, research analysts anticipate that Ciena Corporation will post 1.6 earnings per share for the current fiscal year.

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.