Keybank National Association OH Sells 283 Shares of Ciena Corporation $CIEN

Keybank National Association OH decreased its position in shares of Ciena Corporation (NYSE:CIEN) by 4.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 6,292 shares of the communications equipment provider’s stock after selling 283 shares during the quarter. Keybank National Association OH’s holdings in Ciena were worth $512,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in CIEN. Nuveen LLC bought a new position in shares of Ciena during the 1st quarter worth $70,065,000. Vaughan Nelson Investment Management L.P. grew its stake in shares of Ciena by 375.4% during the 2nd quarter. Vaughan Nelson Investment Management L.P. now owns 1,235,696 shares of the communications equipment provider’s stock worth $100,499,000 after acquiring an additional 975,792 shares during the period. Woodline Partners LP bought a new position in shares of Ciena during the 1st quarter worth $49,221,000. Assenagon Asset Management S.A. grew its stake in shares of Ciena by 1,883.5% during the 2nd quarter. Assenagon Asset Management S.A. now owns 787,266 shares of the communications equipment provider’s stock worth $64,028,000 after acquiring an additional 747,576 shares during the period. Finally, William Blair Investment Management LLC grew its stake in shares of Ciena by 35.0% during 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 acquiring an additional 702,909 shares during the period. Institutional investors own 91.99% of the company’s stock.

Analysts Set New Price Targets

CIEN has been the subject of several research reports. Wolfe Research upgraded Ciena to a “strong-buy” rating in a research note on Tuesday, July 8th. Needham & Company LLC raised their target price on Ciena from $90.00 to $130.00 and gave the stock a “buy” rating in a research note on Friday, September 5th. Barclays raised their target price on Ciena from $102.00 to $138.00 and gave the stock an “overweight” rating in a research note on Friday, September 5th. B. Riley restated a “neutral” rating and issued a $113.00 target price (up previously from $90.00) on shares of Ciena in a research note on Friday, September 5th. Finally, BNP Paribas Exane upgraded Ciena from a “neutral” rating to an “outperform” rating and set a $185.00 target price for the company in a research note on Monday, October 13th. Three equities research analysts have rated the stock with a Strong Buy rating, eleven have issued a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $137.53.

Ciena Stock Down 3.7%

CIEN stock opened at $182.52 on Wednesday. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. The company’s 50 day moving average is $147.10 and its 200 day moving average is $104.09. The stock has a market cap of $25.75 billion, a price-to-earnings ratio of 188.16, a price-to-earnings-growth ratio of 2.62 and a beta of 1.15. Ciena Corporation has a 1-year low of $49.21 and a 1-year high of $194.41.

Ciena (NYSE:CIEN) last posted its quarterly earnings data on Thursday, April 6th. The communications equipment provider reported $0.47 earnings per share for the quarter. The company 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%. Sell-side analysts predict that Ciena Corporation will post 1.6 EPS for the current fiscal year.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 350 shares of the firm’s stock in a transaction dated Wednesday, October 15th. The stock was sold at an average price of $169.36, for a total transaction of $59,276.00. Following the transaction, the senior vice president directly owned 40,653 shares of the company’s stock, 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 SEC, which is accessible through this link. Also, CEO Gary B. Smith sold 6,800 shares of the firm’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $92.93, for a total value of $631,924.00. Following the transaction, the chief executive officer directly owned 305,157 shares in the company, valued at approximately $28,358,240.01. This represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 45,374 shares of company stock valued at $5,936,444. 0.93% of the stock is currently owned by corporate insiders.

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.