Ciena Corp. (CIEN) VP Sells $42,200.00 in Stock
Ciena Corp. (NYSE:CIEN) VP David M. Rothenstein sold 2,000 shares of Ciena Corp. stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $21.10, for a total value of $42,200.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
David M. Rothenstein also recently made the following trade(s):
- On Monday, August 15th, David M. Rothenstein sold 2,000 shares of Ciena Corp. stock. The stock was sold at an average price of $20.84, for a total value of $41,680.00.
- On Friday, July 15th, David M. Rothenstein sold 2,000 shares of Ciena Corp. stock. The stock was sold at an average price of $19.57, for a total value of $39,140.00.
Shares of Ciena Corp. (NYSE:CIEN) opened at 22.26 on Friday. The company has a market cap of $3.10 billion, a P/E ratio of 137.41 and a beta of 1.63. Ciena Corp. has a 52-week low of $15.62 and a 52-week high of $25.46. The stock’s 50 day moving average price is $21.52 and its 200-day moving average price is $19.17.
Ciena Corp. (NYSE:CIEN) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.04. The business had revenue of $670.60 million for the quarter, compared to the consensus estimate of $672.23 million. Ciena Corp. had a return on equity of 22.41% and a net margin of 0.86%. The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.37 earnings per share. Equities analysts expect that Ciena Corp. will post $1.43 EPS for the current year.
Several brokerages have commented on CIEN. B. Riley reaffirmed a “buy” rating and issued a $28.50 price target on shares of Ciena Corp. in a research report on Sunday, September 4th. Deutsche Bank AG reissued a “hold” rating and set a $17.00 price objective (up previously from $15.00) on shares of Ciena Corp. in a report on Tuesday, May 31st. BMO Capital Markets reissued a “buy” rating on shares of Ciena Corp. in a report on Wednesday, June 1st. Argus reissued a “buy” rating and set a $30.00 price objective on shares of Ciena Corp. in a report on Friday, September 2nd. Finally, Citigroup Inc. reissued a “hold” rating on shares of Ciena Corp. in a report on Saturday, June 4th. Four investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $25.47.
A number of large investors have recently modified their holdings of the company. LS Investment Advisors LLC increased its stake in shares of Ciena Corp. by 70.1% in the second quarter. LS Investment Advisors LLC now owns 7,664 shares of the company’s stock worth $144,000 after buying an additional 3,159 shares in the last quarter. Oakbrook Investments LLC acquired a new stake in shares of Ciena Corp. during the second quarter worth $199,000. Clinton Group Inc. acquired a new stake in shares of Ciena Corp. during the second quarter worth $201,000. Acrospire Investment Management LLC acquired a new stake in shares of Ciena Corp. during the second quarter worth $206,000. Finally, Pacer Advisors Inc. acquired a new stake in shares of Ciena Corp. during the second quarter worth $218,000. 92.57% of the stock is currently owned by institutional investors and hedge funds.
Ciena Corp. Company Profile
Ciena Corporation is a network specialist that focuses on providing communications networking solutions. The Company operates through four segments: Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services. Its Converged Packet Optical portfolio includes networking solutions optimized for the convergence of coherent optical transport, optical transport network (OTN) switching and packet switching.
Receive News & Ratings for Ciena Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Ciena Corp. and related companies with MarketBeat.com's FREE daily email newsletter.