Ciena Co. (NYSE:CIEN) SVP Sells $97,800.00 in Stock

Ciena Co. (NYSE:CIEN) SVP Scott Mcfeely sold 2,000 shares of the stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $48.90, for a total value of $97,800.00. Following the sale, the senior vice president now owns 88,392 shares of the company’s stock, valued at approximately $4,322,368.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Scott Mcfeely also recently made the following trade(s):

• On Thursday, August 31st, Scott Mcfeely sold 500 shares of Ciena stock. The shares were sold at an average price of $50.00, for a total transaction of $25,000.00.
• On Tuesday, August 15th, Scott Mcfeely sold 2,000 shares of Ciena stock. The stock was sold at an average price of $41.76, for a total transaction of $83,520.00.
• On Monday, July 17th, Scott Mcfeely sold 2,000 shares of Ciena stock. The shares were sold at an average price of $41.20, for a total transaction of $82,400.00.

Ciena Stock Down 1.8 %

NYSE:CIEN traded down $0.89 during mid-day trading on Tuesday, hitting $47.97. 1,158,078 shares of the company’s stock traded hands, compared to its average volume of 1,786,540. Ciena Co. has a twelve month low of $38.33 and a twelve month high of $54.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 2.71 and a current ratio of 3.95. The company has a market capitalization of $7.09 billion, a P/E ratio of 33.03, a P/E/G ratio of 1.66 and a beta of 0.91. The company has a fifty day moving average of $43.76 and a 200 day moving average of $45.52.

Ciena (NYSE:CIEN) last issued its quarterly earnings results on Thursday, August 31st. The communications equipment provider reported $0.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.08. Ciena had a net margin of 5.23% and a return on equity of 10.00%. The business had revenue of $1.07 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same quarter in the prior year, the business posted $0.18 EPS. Ciena’s revenue for the quarter was up 23.0% compared to the same quarter last year. On average, analysts forecast that Ciena Co. will post 1.96 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their price objective on Ciena from $67.00 to $65.00 in a research report on Wednesday, June 7th. Northland Securities reduced their price target on shares of Ciena from $45.00 to $41.00 in a research report on Wednesday, June 7th. StockNews.com started coverage on shares of Ciena in a research note on Thursday, August 17th. They issued a “hold” rating for the company. Jefferies Financial Group lowered their price target on shares of Ciena from $65.00 to $60.00 in a report on Wednesday, June 7th. Finally, Rosenblatt Securities lifted their target price on Ciena from $57.00 to $65.00 in a report on Friday, September 1st. Four analysts have rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $61.35.

Institutional Investors Weigh In On Ciena

A number of institutional investors and hedge funds have recently modified their holdings of CIEN. Thrivent Financial for Lutherans lifted its stake in Ciena by 8.6% during the 1st quarter. Thrivent Financial for Lutherans now owns 2,801,038 shares of the communications equipment provider’s stock valued at $147,110,000 after acquiring an additional 221,721 shares during the period. Van ECK Associates Corp boosted its holdings in Ciena by 283.3% in the first quarter. Van ECK Associates Corp now owns 17,330 shares of the communications equipment provider’s stock valued at $910,000 after purchasing an additional 12,809 shares during the last quarter. ETF Managers Group LLC grew its position in Ciena by 3.8% during the 4th quarter. ETF Managers Group LLC now owns 11,727 shares of the communications equipment provider’s stock worth $598,000 after purchasing an additional 426 shares during the period. Granite Investment Partners LLC purchased a new position in shares of Ciena during the 4th quarter valued at about $2,354,000. Finally, Emerald Advisers LLC acquired a new stake in Ciena during the first quarter worth about $231,000. Institutional investors and hedge funds own 90.02% of the company’s stock.

About Ciena

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, IP routing, and switching services.