Ciena (NYSE:CIEN) CEO Sells $784,051.20 in Stock

Ciena Corporation (NYSE:CIEN) CEO Gary Smith sold 2,952 shares of Ciena stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $265.60, for a total value of $784,051.20. Following the completion of the sale, the chief executive officer directly owned 301,940 shares of the company’s stock, valued at approximately $80,195,264. This represents a 0.97% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Ciena Stock Performance

NYSE CIEN opened at $271.88 on Friday. The business’s 50-day moving average price is $234.17 and its 200 day moving average price is $173.30. The company has a current ratio of 2.73, a quick ratio of 2.09 and a debt-to-equity ratio of 0.56. Ciena Corporation has a twelve month low of $49.21 and a twelve month high of $285.97. The company has a market capitalization of $38.29 billion, a PE ratio of 319.86, a price-to-earnings-growth ratio of 1.42 and a beta of 1.13.

Ciena (NYSE:CIEN) last posted its quarterly earnings results on Thursday, December 11th. The communications equipment provider reported $0.91 EPS for the quarter, beating the consensus estimate of $0.76 by $0.15. The company had revenue of $1.35 billion during the quarter, compared to analysts’ expectations of $1.29 billion. Ciena had a return on equity of 8.38% and a net margin of 2.59%.The firm’s revenue was up 20.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. On average, research analysts predict that Ciena Corporation will post 1.6 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have issued reports on CIEN. Morgan Stanley set a $213.00 price objective on shares of Ciena in a research note on Wednesday, December 17th. Barclays increased their price target on Ciena from $138.00 to $279.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Weiss Ratings restated a “hold (c)” rating on shares of Ciena in a research note on Wednesday, January 21st. Northland Securities set a $190.00 target price on Ciena and gave the stock a “market perform” rating in a research report on Friday, December 12th. Finally, B. Riley Financial reiterated a “neutral” rating on shares of Ciena in a report on Friday, December 12th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, Ciena has an average rating of “Moderate Buy” and a consensus price target of $241.67.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in CIEN. Community Bank N.A. acquired a new stake in shares of Ciena in the 3rd quarter valued at about $25,000. Mather Group LLC. acquired a new stake in Ciena during the third quarter valued at approximately $28,000. Assetmark Inc. raised its stake in Ciena by 50.4% during the third quarter. Assetmark Inc. now owns 200 shares of the communications equipment provider’s stock valued at $29,000 after buying an additional 67 shares in the last quarter. Ameritas Advisory Services LLC lifted its holdings in Ciena by 104.0% during the 3rd quarter. Ameritas Advisory Services LLC now owns 204 shares of the communications equipment provider’s stock worth $30,000 after buying an additional 104 shares during the last quarter. Finally, Salomon & Ludwin LLC bought a new stake in shares of Ciena in the 3rd quarter valued at approximately $31,000. 91.99% of the stock is currently owned by institutional investors.

Ciena Company Profile

Ciena Corporation (NYSE: CIEN) is a global supplier of telecommunications networking equipment, software and services. The company develops high-capacity optical transport systems and packet-optical platforms that enable service providers, cloud operators and large enterprises to build, manage and scale their networks. Ciena’s product portfolio includes coherent optical solutions, packet networking platforms and a suite of network automation software designed to optimize bandwidth, reduce latency and simplify network operations.

In addition to hardware offerings, Ciena provides professional services and support, including network design, implementation and ongoing maintenance.