Insider Selling: Ciena Co. (NYSE:CIEN) SVP Sells $159,311.79 in Stock

Ciena Co. (NYSE:CIEN) SVP Jason Phipps sold 3,069 shares of the firm’s stock in a transaction dated Tuesday, September 21st. The shares were sold at an average price of $51.91, for a total transaction of $159,311.79. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Shares of NYSE CIEN opened at $52.02 on Friday. The company has a market cap of $8.06 billion, a PE ratio of 17.63, a price-to-earnings-growth ratio of 1.35 and a beta of 0.83. Ciena Co. has a 12 month low of $38.03 and a 12 month high of $61.09. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.61 and a quick ratio of 3.16. The company has a 50-day simple moving average of $55.57 and a 200-day simple moving average of $55.36.

Ciena (NYSE:CIEN) last released its earnings results on Wednesday, September 1st. The communications equipment provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.13. Ciena had a net margin of 13.55% and a return on equity of 13.32%. The firm had revenue of $988.10 million during the quarter, compared to the consensus estimate of $969.41 million. During the same period in the previous year, the firm earned $1.06 earnings per share. Ciena’s revenue was up 1.2% compared to the same quarter last year. On average, analysts anticipate that Ciena Co. will post 2.5 EPS for the current year.

Several brokerages recently commented on CIEN. Citigroup raised their price objective on shares of Ciena from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, June 4th. Barclays cut their target price on shares of Ciena from $68.00 to $66.00 and set an “overweight” rating for the company in a research report on Friday, September 3rd. B. Riley cut their target price on shares of Ciena from $53.00 to $51.00 and set a “neutral” rating for the company in a research report on Friday, September 3rd. They noted that the move was a valuation call. lifted their target price on shares of Ciena from $65.00 to $70.00 and gave the stock a “buy” rating in a research report on Friday, June 4th. Finally, Colliers Securities restated a “buy” rating and set a $70.00 target price on shares of Ciena in a research report on Friday, September 3rd. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $61.27.

A number of institutional investors have recently added to or reduced their stakes in the stock. Cigna Investments Inc. New grew its holdings in Ciena by 3.6% in the first quarter. Cigna Investments Inc. New now owns 5,502 shares of the communications equipment provider’s stock valued at $301,000 after purchasing an additional 190 shares during the period. Pacitti Group Inc. lifted its position in Ciena by 4.3% during the second quarter. Pacitti Group Inc. now owns 4,798 shares of the communications equipment provider’s stock valued at $272,000 after buying an additional 198 shares in the last quarter. Covenant Partners LLC lifted its position in Ciena by 3.7% during the first quarter. Covenant Partners LLC now owns 5,593 shares of the communications equipment provider’s stock valued at $306,000 after buying an additional 201 shares in the last quarter. Aurora Investment Counsel lifted its position in Ciena by 0.6% during the first quarter. Aurora Investment Counsel now owns 32,839 shares of the communications equipment provider’s stock valued at $1,797,000 after buying an additional 204 shares in the last quarter. Finally, NEXT Financial Group Inc lifted its position in Ciena by 1.6% during the second quarter. NEXT Financial Group Inc now owns 13,301 shares of the communications equipment provider’s stock valued at $757,000 after buying an additional 208 shares in the last quarter. Hedge funds and other institutional investors own 90.49% of the company’s stock.

Ciena Company Profile

Ciena Corp. engages in the provision of network and communication infrastructure. It operates through the following segments: Networking Platforms, Platform Software and Services, Blue Planet Automation Software and Services, and Global Services. The Networking Platforms segment consists of Converged Packet Optical and Packet Networking portfolios.

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Insider Buying and Selling by Quarter for Ciena (NYSE:CIEN)

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