Quantinno Capital Management LP Boosts Position in Ciena Corporation $CIEN

Quantinno Capital Management LP raised its position in Ciena Corporation (NYSE:CIEN) by 3.4% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 103,914 shares of the communications equipment provider’s stock after acquiring an additional 3,429 shares during the quarter. Quantinno Capital Management LP owned approximately 0.07% of Ciena worth $40,343,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Transamerica Financial Advisors LLC increased its position in shares of Ciena by 71.0% during the 4th quarter. Transamerica Financial Advisors LLC now owns 106 shares of the communications equipment provider’s stock valued at $25,000 after purchasing an additional 44 shares during the last quarter. Truvestments Capital LLC boosted its holdings in shares of Ciena by 45.3% in the fourth quarter. Truvestments Capital LLC now owns 154 shares of the communications equipment provider’s stock worth $36,000 after buying an additional 48 shares during the last quarter. Bogart Wealth LLC grew its position in Ciena by 635.7% during the first quarter. Bogart Wealth LLC now owns 103 shares of the communications equipment provider’s stock valued at $40,000 after buying an additional 89 shares during the period. Acumen Wealth Advisors LLC bought a new stake in Ciena during the fourth quarter valued at approximately $40,000. Finally, Zions Bancorporation National Association UT purchased a new stake in Ciena during the fourth quarter valued at approximately $50,000. 91.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Ciena

In related news, SVP Brodie Gage sold 1,200 shares of the business’s stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $466.10, for a total value of $559,320.00. Following the transaction, the senior vice president directly owned 42,741 shares of the company’s stock, valued at approximately $19,921,580.10. The trade was a 2.73% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Jason Phipps sold 2,629 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $466.20, for a total value of $1,225,639.80. Following the completion of the transaction, the senior vice president owned 62,382 shares of the company’s stock, valued at $29,082,488.40. The trade was a 4.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 18,675 shares of company stock valued at $9,387,576. 0.58% of the stock is owned by corporate insiders.

Ciena Stock Performance

Shares of NYSE CIEN opened at $371.37 on Friday. The stock has a market cap of $52.57 billion, a PE ratio of 123.79 and a beta of 1.27. Ciena Corporation has a 1 year low of $84.41 and a 1 year high of $637.51. The firm has a fifty day moving average price of $461.58 and a 200-day moving average price of $413.77. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.73 and a quick ratio of 2.11.

Ciena (NYSE:CIEN) last issued its earnings results on Thursday, June 4th. The communications equipment provider reported $1.64 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.18. The company had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.50 billion. Ciena had a net margin of 7.87% and a return on equity of 18.15%. Ciena’s quarterly revenue was up 39.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.42 EPS. Equities analysts anticipate that Ciena Corporation will post 5.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently weighed in on CIEN shares. Morgan Stanley lifted their price target on shares of Ciena from $405.00 to $490.00 and gave the stock an “equal weight” rating in a research note on Friday, June 5th. Argus set a $650.00 target price on Ciena in a report on Friday, June 5th. Bank of America lifted their target price on Ciena from $550.00 to $660.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Barclays boosted their price target on Ciena from $372.00 to $607.00 and gave the company an “overweight” rating in a report on Friday, June 5th. Finally, Needham & Company LLC restated a “buy” rating on shares of Ciena in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $530.56.

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.