Vestmark Advisory Solutions Inc. Has $1.56 Million Stock Position in Ciena Corporation $CIEN

Vestmark Advisory Solutions Inc. boosted its holdings in Ciena Corporation (NYSE:CIEN) by 218.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 19,117 shares of the communications equipment provider’s stock after buying an additional 13,108 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Ciena were worth $1,555,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. World Investment Advisors bought a new stake in shares of Ciena in the 2nd quarter worth approximately $253,000. Vaughan Nelson Investment Management L.P. increased its position in shares of 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 during the period. Inspire Investing LLC raised its stake in shares of Ciena by 516.6% in the first quarter. Inspire Investing LLC now owns 18,719 shares of the communications equipment provider’s stock valued at $1,131,000 after purchasing an additional 15,683 shares in the last quarter. Amundi lifted its position in Ciena by 322.8% in the first quarter. Amundi now owns 34,035 shares of the communications equipment provider’s stock worth $1,912,000 after purchasing an additional 25,986 shares during the period. Finally, Connective Portfolio Management LLC acquired a new stake in Ciena during the second quarter worth $651,000. 91.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Joseph Cumello sold 1,863 shares of Ciena stock in a transaction dated Friday, September 26th. The stock was sold at an average price of $141.14, for a total value of $262,943.82. Following the completion of the transaction, the senior vice president directly owned 43,531 shares of the company’s stock, valued at $6,143,965.34. The trade was a 4.10% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Gary B. Smith sold 6,800 shares of the stock in a transaction dated Tuesday, September 2nd. The stock was sold at an average price of $92.93, for a total transaction of $631,924.00. Following the sale, 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 position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 52,174 shares of company stock worth $7,231,504 in the last three months. Company insiders own 0.93% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on CIEN. UBS Group boosted their price target on shares of Ciena from $78.00 to $120.00 and gave the company a “neutral” rating in a report on Friday, September 5th. Rosenblatt Securities raised shares of Ciena from a “neutral” rating to a “buy” rating and upped their target price for the company from $127.50 to $175.00 in a research note on Friday, September 26th. BNP Paribas set a $185.00 price target on shares of Ciena and gave the stock an “outperform” rating in a research report on Monday, October 13th. JPMorgan Chase & Co. lifted their price objective on Ciena from $105.00 to $140.00 and gave the company an “overweight” rating in a report on Friday, September 5th. Finally, Wall Street Zen lowered Ciena from a “strong-buy” rating to a “buy” rating in a research note on Saturday. Three analysts have rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $137.53.

Ciena Price Performance

Shares of Ciena stock opened at $199.15 on Monday. The stock has a market capitalization of $28.09 billion, a price-to-earnings ratio of 205.31, a P/E/G ratio of 2.62 and a beta of 1.17. The firm’s 50-day moving average price is $153.34 and its two-hundred day moving average price is $107.02. The company has a current ratio of 3.28, a quick ratio of 2.52 and a debt-to-equity ratio of 0.55. Ciena Corporation has a 1-year low of $49.21 and a 1-year high of $203.40.

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

Ciena 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.