Brodie Gage Sells 350 Shares of Ciena Co. (NYSE:CIEN) Stock

Ciena Co. (NYSE:CIEN) SVP Brodie Gage sold 350 shares of Ciena stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $90.16, for a total value of $31,556.00. Following the sale, the senior vice president now owns 49,197 shares in the company, valued at $4,435,601.52. The trade was a 0.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Brodie Gage also recently made the following trade(s):

• On Wednesday, January 15th, Brodie Gage sold 350 shares of Ciena stock. The stock was sold at an average price of $85.91, for a total transaction of $30,068.50.

Ciena Stock Down 2.7 %

CIEN stock opened at $84.15 on Friday. The stock has a 50-day simple moving average of $86.64 and a two-hundred day simple moving average of $71.27. Ciena Co. has a twelve month low of $43.30 and a twelve month high of $101.44. The firm has a market capitalization of $12.00 billion, a PE ratio of 147.63, a PEG ratio of 1.54 and a beta of 0.88. The company has a quick ratio of 2.72, a current ratio of 3.55 and a debt-to-equity ratio of 0.54.

Ciena (NYSE:CIEN) last released its quarterly earnings data on Thursday, December 12th. The communications equipment provider reported $0.54 EPS for the quarter, missing analysts’ consensus estimates of $0.66 by ($0.12). The firm had revenue of $1.12 billion during the quarter, compared to the consensus estimate of $1.10 billion. Ciena had a net margin of 2.09% and a return on equity of 4.72%. Ciena’s revenue was down .5% compared to the same quarter last year. During the same quarter last year, the business posted $0.56 earnings per share. On average, equities analysts predict that Ciena Co. will post 1.6 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently weighed in on CIEN shares. Morgan Stanley downgraded shares of Ciena from an “overweight” rating to an “equal weight” rating and set a $63.00 target price for the company. in a research report on Monday, October 28th. Northland Securities increased their price objective on Ciena from $46.00 to $60.00 and gave the company a “market perform” rating in a report on Friday, December 13th. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and raised their target price for the stock from $70.00 to $95.00 in a research report on Friday, December 13th. Barclays upped their price target on Ciena from $67.00 to $97.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $95.00 price objective on shares of Ciena in a report on Friday, January 10th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $78.77.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in CIEN. Creative Planning grew its holdings in shares of Ciena by 65.0% during the third quarter. Creative Planning now owns 14,516 shares of the communications equipment provider’s stock worth $894,000 after purchasing an additional 5,717 shares in the last quarter. Blue Trust Inc. lifted its position in Ciena by 241.5% during the third quarter. Blue Trust Inc. now owns 1,424 shares of the communications equipment provider’s stock valued at $88,000 after purchasing an additional 1,007 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Ciena by 399.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,378 shares of the communications equipment provider’s stock valued at $146,000 after purchasing an additional 1,902 shares during the last quarter. Private Advisor Group LLC grew its stake in Ciena by 5.4% in the 3rd quarter. Private Advisor Group LLC now owns 6,169 shares of the communications equipment provider’s stock worth $380,000 after buying an additional 318 shares in the last quarter. Finally, Lecap Asset Management Ltd. bought a new position in shares of Ciena in the 3rd quarter worth $664,000. 91.99% of the stock is currently owned by hedge funds and other institutional investors.

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, optical transport network switching, IP routing, and switching services.