4,497 Shares in Ciena Corporation $CIEN Purchased by Krilogy Financial LLC

Krilogy Financial LLC acquired a new position in Ciena Corporation (NYSE:CIEN) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 4,497 shares of the communications equipment provider’s stock, valued at approximately $655,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Ciena by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 15,088,445 shares of the communications equipment provider’s stock worth $1,227,143,000 after purchasing an additional 103,199 shares during the period. JPMorgan Chase & Co. increased its position in Ciena by 7.4% in the second quarter. JPMorgan Chase & Co. now owns 5,243,053 shares of the communications equipment provider’s stock worth $426,420,000 after buying an additional 359,579 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Ciena by 10.4% in the second quarter. Bank of America Corp DE now owns 3,495,795 shares of the communications equipment provider’s stock valued at $284,313,000 after buying an additional 329,821 shares during the period. William Blair Investment Management LLC lifted its position in shares of Ciena by 35.0% during the 2nd quarter. William Blair Investment Management LLC now owns 2,708,540 shares of the communications equipment provider’s stock valued at $220,286,000 after buying an additional 702,909 shares during the last quarter. Finally, Senvest Management LLC grew its stake in shares of Ciena by 12.4% during the 2nd quarter. Senvest Management LLC now owns 1,655,012 shares of the communications equipment provider’s stock worth $134,602,000 after acquiring an additional 182,900 shares during the period. 91.99% of the stock is owned by institutional investors.

Ciena Trading Up 3.7%

Ciena stock opened at $303.85 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.09 and a current ratio of 2.73. Ciena Corporation has a fifty-two week low of $49.21 and a fifty-two week high of $308.81. The stock has a market cap of $42.80 billion, a P/E ratio of 357.48, a PEG ratio of 1.64 and a beta of 1.13. The firm’s fifty day moving average price is $243.93 and its 200-day moving average price is $180.56.

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

Insider Buying and Selling

In related news, SVP Jason Phipps sold 21,383 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $247.89, for a total value of $5,300,631.87. Following the sale, the senior vice president directly owned 91,765 shares of the company’s stock, valued at $22,747,625.85. This trade represents a 18.90% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Joseph Cumello sold 11,929 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $229.82, for a total transaction of $2,741,522.78. Following the completion of the transaction, the senior vice president directly owned 49,475 shares of the company’s stock, valued at approximately $11,370,344.50. This represents a 19.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 157,242 shares of company stock valued at $36,341,766 in the last 90 days. 0.93% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on CIEN shares. Raymond James Financial set a $240.00 price objective on Ciena in a research note on Thursday, December 11th. Northland Securities set a $190.00 price target on shares of Ciena and gave the company a “market perform” rating in a research note on Friday, December 12th. Evercore set a $240.00 price objective on shares of Ciena in a report on Thursday, December 11th. Barclays boosted their target price on shares of Ciena from $138.00 to $279.00 and gave the company an “overweight” rating in a report on Friday, December 12th. Finally, UBS Group raised their price target on Ciena from $120.00 to $230.00 and gave the stock a “neutral” rating in a report on Friday, December 12th. One research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, Ciena presently has a consensus rating of “Moderate Buy” and a consensus price target of $241.67.

About Ciena

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.