Insider Selling: Ciena Corporation (CIEN) VP Sells 2,000 Shares of Stock
Ciena Corporation (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of the stock in a transaction on Monday, October 16th. The shares were sold at an average price of $21.56, for a total value of $43,120.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Ciena Corporation (CIEN) traded down 0.19% during trading on Tuesday, hitting $21.25. The company had a trading volume of 4,313,644 shares. The company has a market cap of $3.03 billion, a PE ratio of 23.25 and a beta of 1.70. Ciena Corporation has a 12 month low of $18.94 and a 12 month high of $27.98. The company’s 50 day moving average price is $22.05 and its 200-day moving average price is $23.80.
Ciena Corporation (NYSE:CIEN) last issued its earnings results on Thursday, August 31st. The communications equipment provider reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.49 by $0.02. The business had revenue of $728.70 million for the quarter, compared to analyst estimates of $726.81 million. Ciena Corporation had a net margin of 4.99% and a return on equity of 25.53%. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.42 EPS. Equities analysts expect that Ciena Corporation will post $1.74 earnings per share for the current year.
ILLEGAL ACTIVITY NOTICE: This report was first reported by Watch List News and is the property of of Watch List News. If you are accessing this report on another website, it was copied illegally and reposted in violation of US & international trademark & copyright legislation. The original version of this report can be accessed at https://www.watchlistnews.com/insider-selling-ciena-corporation-cien-vp-sells-2000-shares-of-stock/1637283.html.
CIEN has been the topic of several analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $30.00 price objective on shares of Ciena Corporation in a research note on Friday, September 1st. TheStreet upgraded Ciena Corporation from a “c+” rating to a “b” rating in a research note on Monday, June 19th. William Blair reiterated a “buy” rating on shares of Ciena Corporation in a research note on Thursday, August 3rd. Citigroup Inc. upgraded Ciena Corporation from a “neutral” rating to a “buy” rating and increased their price objective for the company from $23.87 to $29.00 in a research note on Wednesday, August 30th. Finally, Nomura reiterated a “buy” rating and issued a $28.00 price objective on shares of Ciena Corporation in a research note on Wednesday, September 20th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $29.53.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Ciena Corporation by 11.3% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,085 shares of the communications equipment provider’s stock worth $127,000 after acquiring an additional 517 shares during the period. Fortaleza Asset Management Inc. acquired a new stake in Ciena Corporation during the second quarter worth about $134,000. Advisor Group Inc. raised its stake in Ciena Corporation by 6.4% during the second quarter. Advisor Group Inc. now owns 10,011 shares of the communications equipment provider’s stock worth $151,000 after acquiring an additional 604 shares during the period. Acadian Asset Management LLC acquired a new stake in Ciena Corporation during the second quarter worth about $159,000. Finally, TNB Financial acquired a new stake in Ciena Corporation during the second quarter worth about $200,000.
Ciena Corporation Company Profile
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.
Receive News & Ratings for Ciena Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.